Essent Group Ltd. (NYSE:ESNT) Holdings Reduced by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its stake in Essent Group Ltd. (NYSE:ESNT) by 45.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,813 shares of the financial services provider’s stock after selling 153,731 shares during the period. Ameriprise Financial Inc. owned approximately 0.19% of Essent Group worth $6,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Sei Investments Co. lifted its stake in Essent Group by 2.6% during the first quarter. Sei Investments Co. now owns 2,909 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 74 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Essent Group by 0.9% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,746 shares of the financial services provider’s stock worth $845,000 after purchasing an additional 200 shares during the last quarter. US Bancorp DE lifted its stake in Essent Group by 4.6% during the first quarter. US Bancorp DE now owns 4,946 shares of the financial services provider’s stock worth $179,000 after purchasing an additional 218 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its stake in Essent Group by 0.4% during the second quarter. Riggs Asset Managment Co. Inc. now owns 57,668 shares of the financial services provider’s stock worth $2,142,000 after purchasing an additional 246 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Essent Group by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 288 shares during the last quarter. Institutional investors and hedge funds own 81.02% of the company’s stock.



In other news, VP David B. Weinstock sold 2,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $38.95, for a total transaction of $77,900.00. Following the completion of the sale, the vice president now owns 30,785 shares of the company’s stock, valued at $1,199,075.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Lawrence E. Mcalee, Jr. sold 3,118 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $40.00, for a total transaction of $124,720.00. Following the completion of the sale, the chief financial officer now directly owns 272,167 shares of the company’s stock, valued at approximately $10,886,680. The disclosure for this sale can be found here. In the last three months, insiders sold 36,363 shares of company stock valued at $1,531,285. 18.10% of the stock is owned by insiders.

Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Friday, September 8th. Deutsche Bank AG increased their price objective on Essent Group from $48.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday. BidaskClub downgraded Essent Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods set a $43.00 price target on Essent Group and gave the stock a “hold” rating in a report on Monday, August 7th. Finally, Barclays PLC increased their price target on Essent Group from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Essent Group currently has a consensus rating of “Buy” and an average price target of $44.88.

Essent Group Ltd. (NYSE ESNT) opened at 43.96 on Friday. Essent Group Ltd. has a 12 month low of $25.84 and a 12 month high of $45.10. The company has a market cap of $4.11 billion, a PE ratio of 15.64 and a beta of 1.14. The company has a 50-day moving average of $40.35 and a 200 day moving average of $38.27.

Essent Group (NYSE:ESNT) last posted its earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.09. Essent Group had a net margin of 50.92% and a return on equity of 18.77%. The firm had revenue of $137.61 million during the quarter, compared to analysts’ expectations of $131.99 million. During the same period in the previous year, the business posted $0.57 EPS. The business’s revenue was up 27.2% compared to the same quarter last year. On average, equities analysts forecast that Essent Group Ltd. will post $3.04 earnings per share for the current fiscal year.

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Essent Group Profile

Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance.

Institutional Ownership by Quarter for Essent Group (NYSE:ESNT)

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