First Trust Advisors LP reduced its stake in Essent Group Ltd (NYSE:ESNT) by 20.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,012 shares of the financial services provider’s stock after selling 19,482 shares during the quarter. First Trust Advisors LP owned about 0.08% of Essent Group worth $3,038,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. BNP Paribas Arbitrage SA lifted its stake in Essent Group by 1,181.9% in the second quarter. BNP Paribas Arbitrage SA now owns 37,484 shares of the financial services provider’s stock valued at $1,392,000 after buying an additional 34,560 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Essent Group by 26.4% during the second quarter. Parametric Portfolio Associates LLC now owns 110,244 shares of the financial services provider’s stock worth $4,094,000 after purchasing an additional 23,018 shares during the period. Renaissance Group LLC raised its position in shares of Essent Group by 5.5% during the second quarter. Renaissance Group LLC now owns 23,276 shares of the financial services provider’s stock worth $864,000 after purchasing an additional 1,205 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Essent Group by 18.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 735,340 shares of the financial services provider’s stock worth $27,311,000 after purchasing an additional 115,177 shares during the period. Finally, Advisor Group Inc. raised its position in shares of Essent Group by 470.9% during the second quarter. Advisor Group Inc. now owns 8,192 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 6,757 shares during the period. 85.83% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on ESNT. Zacks Investment Research raised Essent Group from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Friday, September 8th. Deutsche Bank upped their target price on Essent Group from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. BidaskClub raised Essent Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 18th. Wells Fargo & Company started coverage on Essent Group in a report on Tuesday, November 28th. They set an “outperform” rating and a $52.00 price target for the company. Finally, Keefe, Bruyette & Woods upgraded Essent Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $43.00 to $44.00 in a report on Wednesday, August 23rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $45.78.
Shares of Essent Group Ltd (NYSE:ESNT) traded up $0.17 during trading hours on Thursday, reaching $45.72. The company’s stock had a trading volume of 931,815 shares, compared to its average volume of 691,149. The company has a market cap of $4,482.69, a P/E ratio of 15.23, a PEG ratio of 1.48 and a beta of 1.15. Essent Group Ltd has a 52-week low of $31.33 and a 52-week high of $46.15.
Essent Group (NYSE:ESNT) last announced its quarterly earnings data on Thursday, November 9th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The firm had revenue of $150.20 million during the quarter, compared to the consensus estimate of $143.79 million. Essent Group had a return on equity of 18.55% and a net margin of 51.64%. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. sell-side analysts predict that Essent Group Ltd will post 3.08 earnings per share for the current fiscal year.
In other news, Director Andrew Turnbull sold 15,813 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $45.62, for a total transaction of $721,389.06. Following the completion of the transaction, the director now owns 45,409 shares in the company, valued at approximately $2,071,558.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Lawrence E. Mcalee, Jr. sold 7,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $45.01, for a total value of $315,070.00. Following the transaction, the chief financial officer now owns 265,167 shares of the company’s stock, valued at approximately $11,935,166.67. The disclosure for this sale can be found here. Insiders sold a total of 50,858 shares of company stock valued at $2,261,864 in the last 90 days. Corporate insiders own 18.10% of the company’s stock.
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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.
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