Sapience Investments LLC Trims Stock Position in Essent Group Ltd. (NYSE:ESNT)

Sapience Investments LLC reduced its position in Essent Group Ltd. (NYSE:ESNT - Free Report) by 24.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,632 shares of the financial services provider's stock after selling 11,811 shares during the period. Sapience Investments LLC's holdings in Essent Group were worth $1,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new position in shares of Essent Group in the 4th quarter valued at $25,000. Picton Mahoney Asset Management lifted its stake in shares of Essent Group by 68.8% in the 4th quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 238 shares during the period. US Bancorp DE lifted its stake in shares of Essent Group by 53.3% in the 4th quarter. US Bancorp DE now owns 1,125 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 391 shares during the period. R Squared Ltd acquired a new position in shares of Essent Group in the 4th quarter valued at $63,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Essent Group by 8.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,363 shares of the financial services provider's stock valued at $129,000 after purchasing an additional 180 shares during the period. 93.00% of the stock is currently owned by institutional investors and hedge funds.

Essent Group Stock Performance

Shares of NYSE ESNT traded down $0.39 during mid-day trading on Tuesday, reaching $59.07. The company's stock had a trading volume of 482,991 shares, compared to its average volume of 640,228. The stock has a 50-day moving average of $56.48 and a two-hundred day moving average of $56.29. The stock has a market capitalization of $5.99 billion, a P/E ratio of 8.64, a P/E/G ratio of 2.70 and a beta of 0.87. Essent Group Ltd. has a 1-year low of $51.61 and a 1-year high of $65.34.

Essent Group (NYSE:ESNT - Get Free Report) last issued its earnings results on Friday, May 9th. The financial services provider reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The business had revenue of $317.56 million during the quarter, compared to analysts' expectations of $311.18 million. Essent Group had a net margin of 58.69% and a return on equity of 13.35%. The company's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.70 earnings per share. Analysts predict that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.

Essent Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 30th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, May 30th. Essent Group's dividend payout ratio (DPR) is 18.16%.

Insider Buying and Selling

In other news, Director Douglas J. Pauls sold 3,000 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $59.80, for a total value of $179,400.00. Following the transaction, the director now owns 27,165 shares of the company's stock, valued at $1,624,467. This represents a 9.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mary Lourdes Gibbons sold 1,777 shares of Essent Group stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $60.07, for a total transaction of $106,744.39. Following the sale, the senior vice president now owns 253,022 shares of the company's stock, valued at approximately $15,199,031.54. This represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,001 shares of company stock worth $299,591. Insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods restated an "outperform" rating on shares of Essent Group in a research report on Friday, May 9th. The Goldman Sachs Group restated a "neutral" rating on shares of Essent Group in a research report on Friday, May 9th. JPMorgan Chase & Co. upgraded shares of Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price objective for the company in a research report on Tuesday, April 8th. Royal Bank of Canada restated an "outperform" rating on shares of Essent Group in a research report on Friday, May 9th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Essent Group in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $61.71.

About Essent Group

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.