AMP Capital Investors Ltd lifted its stake in Essent Group Ltd (NYSE:ESNT) by 497.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,115 shares of the financial services provider’s stock after purchasing an additional 30,902 shares during the period. AMP Capital Investors Ltd’s holdings in Essent Group were worth $1,503,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of ESNT. Fortaleza Asset Management Inc. purchased a new position in Essent Group during the third quarter valued at approximately $112,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Essent Group by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock worth $117,000 after buying an additional 288 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Essent Group in the second quarter worth $208,000. Nine Chapters Capital Management LLC purchased a new position in shares of Essent Group in the third quarter worth $219,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Essent Group in the second quarter worth $243,000. 85.83% of the stock is owned by hedge funds and other institutional investors.
In related news, VP David B. Weinstock sold 3,000 shares of Essent Group stock in a transaction on Monday, October 16th. The shares were sold at an average price of $41.71, for a total value of $125,130.00. Following the sale, the vice president now owns 25,785 shares of the company’s stock, valued at approximately $1,075,492.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew Turnbull sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the transaction, the director now owns 24,596 shares in the company, valued at approximately $1,131,416. The disclosure for this sale can be found here. Insiders have sold a total of 53,858 shares of company stock worth $2,414,044 in the last ninety days. Corporate insiders own 18.10% of the company’s stock.
Shares of Essent Group Ltd (NYSE:ESNT) traded up $1.18 during trading on Thursday, hitting $47.84. 797,920 shares of the company traded hands, compared to its average volume of 729,755. The stock has a market cap of $4,710.00, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.20 and a beta of 1.15. Essent Group Ltd has a 52-week low of $31.63 and a 52-week high of $47.96.
Essent Group (NYSE:ESNT) last issued its quarterly earnings results on Thursday, November 9th. The financial services provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.07. The company had revenue of $150.20 million for the quarter, compared to the consensus estimate of $143.79 million. Essent Group had a net margin of 51.64% and a return on equity of 18.55%. Essent Group’s quarterly revenue 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 forecast that Essent Group Ltd will post 3.08 EPS for the current fiscal year.
ESNT has been the topic of a number of recent research reports. BidaskClub raised shares of Essent Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 16th. Zacks Investment Research downgraded shares of Essent Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Compass Point reiterated a “buy” rating and set a $50.00 price objective (up previously from $38.00) on shares of Essent Group in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $44.00 price objective on shares of Essent Group in a research report on Thursday, October 12th. Finally, Deutsche Bank upped their price target on shares of Essent Group from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Essent Group has an average rating of “Buy” and an average price target of $49.40.
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About Essent Group
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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