Convergence Investment Partners LLC trimmed its holdings in shares of Essent Group Ltd (NYSE:ESNT) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,119 shares of the financial services provider’s stock after selling 5,384 shares during the quarter. Convergence Investment Partners LLC owned 0.05% of Essent Group worth $2,176,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in ESNT. Fortaleza Asset Management Inc. purchased a new stake in shares of Essent Group during the third quarter worth about $112,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in 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 valued at $117,000 after buying an additional 288 shares during the last quarter. Nine Chapters Capital Management LLC bought a new stake in Essent Group in the third quarter valued at about $219,000. GSA Capital Partners LLP bought a new stake in Essent Group in the second quarter valued at about $243,000. Finally, Ameritas Investment Partners Inc. increased its holdings in Essent Group by 5.1% in the second quarter. Ameritas Investment Partners Inc. now owns 6,781 shares of the financial services provider’s stock valued at $252,000 after buying an additional 330 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.
Essent Group Ltd (NYSE ESNT) opened at $47.78 on Wednesday. Essent Group Ltd has a 52 week low of $31.63 and a 52 week high of $48.57. The company has a market capitalization of $4,732.71, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 1.22 and a beta of 1.15.
Essent Group (NYSE:ESNT) last issued its earnings results on Thursday, November 9th. The financial services provider reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.07. Essent Group had a return on equity of 18.55% and a net margin of 51.64%. The company had revenue of $150.20 million during the quarter, compared to the consensus estimate of $143.79 million. During the same period in the previous year, the firm posted $0.65 earnings per share. Essent Group’s quarterly revenue was up 23.9% compared to the same quarter last year. research analysts forecast that Essent Group Ltd will post 3.07 EPS for the current fiscal year.
ESNT has been the subject of several research analyst reports. Zacks Investment Research lowered Essent Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Compass Point reissued a “buy” rating and issued a $50.00 price objective (up from $38.00) on shares of Essent Group in a report on Wednesday, October 11th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $44.00 price objective on shares of Essent Group in a report on Thursday, October 12th. BidaskClub raised Essent Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. Finally, Deutsche Bank boosted their price objective on Essent Group from $48.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $49.40.
In other Essent Group news, Director Robert Glanville sold 3,000 shares of Essent Group stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $44.88, for a total value of $134,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew Turnbull sold 5,000 shares of Essent Group stock in a transaction that occurred 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 of the company’s stock, valued at $1,131,416. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,022 shares of company stock valued at $2,085,608. 18.10% of the stock is currently owned by insiders.
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Essent Group Company 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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