Russell Investments Group Ltd. Cuts Stake in Essent Group Ltd. (NYSE:ESNT)

Russell Investments Group Ltd. decreased its position in Essent Group Ltd. (NYSE:ESNT - Free Report) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,497 shares of the financial services provider's stock after selling 13,780 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of Essent Group worth $7,733,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Raymond James & Associates boosted its position in Essent Group by 12.4% during the third quarter. Raymond James & Associates now owns 13,980 shares of the financial services provider's stock valued at $661,000 after purchasing an additional 1,544 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Essent Group by 17.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,014 shares of the financial services provider's stock valued at $946,000 after purchasing an additional 2,906 shares during the last quarter. Strs Ohio grew its stake in shares of Essent Group by 18.5% in the third quarter. Strs Ohio now owns 32,100 shares of the financial services provider's stock worth $1,518,000 after purchasing an additional 5,000 shares during the last quarter. Assetmark Inc. increased its holdings in Essent Group by 4.0% in the third quarter. Assetmark Inc. now owns 40,032 shares of the financial services provider's stock valued at $1,893,000 after purchasing an additional 1,538 shares during the period. Finally, AlphaMark Advisors LLC bought a new position in Essent Group during the 3rd quarter worth $253,000. 93.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on Essent Group from $62.00 to $64.00 and gave the company a "market perform" rating in a report on Thursday, April 4th. StockNews.com cut shares of Essent Group from a "buy" rating to a "hold" rating in a research report on Monday, March 4th. Royal Bank of Canada dropped their target price on shares of Essent Group from $64.00 to $61.00 and set an "outperform" rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. cut shares of Essent Group from an "overweight" rating to a "neutral" rating and upped their price target for the company from $58.00 to $61.00 in a research report on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $58.75.

Essent Group Stock Down 0.7 %

ESNT stock traded down $0.39 during midday trading on Wednesday, hitting $56.01. The company's stock had a trading volume of 651,367 shares, compared to its average volume of 534,734. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 0.83 and a beta of 1.05. The stock's 50-day moving average price is $55.29 and its 200 day moving average price is $52.64. Essent Group Ltd. has a 1 year low of $42.52 and a 1 year high of $59.90.

Essent Group (NYSE:ESNT - Get Free Report) last issued its quarterly earnings results on Friday, May 3rd. The financial services provider reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.56 by $0.14. Essent Group had a net margin of 61.40% and a return on equity of 14.24%. The company had revenue of $298.40 million for the quarter, compared to the consensus estimate of $298.69 million. During the same period in the previous year, the firm earned $1.59 EPS. The firm's quarterly revenue was up 16.4% on a year-over-year basis. As a group, equities analysts forecast that Essent Group Ltd. will post 6.56 earnings per share for the current fiscal year.

Essent Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.12 annualized dividend and a dividend yield of 2.00%. Essent Group's payout ratio is currently 16.94%.

Essent Group Company Profile

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its mortgage insurance products include primary, pool, and master policy. The company also provides information technology maintenance and development services; customer support-related services; underwriting consulting; and contract underwriting services, as well as risk management products and title insurance and settlement services.