Chartwell Investment Partners LLC increased its holdings in shares of Essent Group Ltd (NYSE:ESNT) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 95,081 shares of the financial services provider’s stock after buying an additional 1,289 shares during the period. Chartwell Investment Partners LLC’s holdings in Essent Group were worth $4,128,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in ESNT. Fortaleza Asset Management Inc. acquired a new stake in Essent Group in the third quarter valued at $112,000. Telemus Capital LLC acquired a new stake in Essent Group in the fourth quarter valued at $204,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Essent Group by 50.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,735 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 1,590 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new stake in Essent Group in the fourth quarter valued at $208,000. Finally, Nine Chapters Capital Management LLC acquired a new stake in Essent Group in the third quarter valued at $219,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Andrew Turnbull sold 5,000 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the transaction, the director now directly owns 24,596 shares in the company, valued at $1,131,416. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Casale sold 370,673 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.50, for a total value of $16,494,948.50. Following the transaction, the chief executive officer now owns 1,845,356 shares in the company, valued at $82,118,342. The disclosure for this sale can be found here. Insiders sold 401,686 shares of company stock worth $17,906,354 over the last 90 days. Company insiders own 18.10% of the company’s stock.
ESNT has been the topic of several research reports. Deutsche Bank upped their target price on Essent Group from $48.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. BidaskClub lowered Essent Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Barclays upped their target price on Essent Group from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, November 10th. Zacks Investment Research raised Essent Group from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Finally, Wells Fargo & Co initiated coverage on Essent Group in a report on Tuesday, November 28th. They issued an “outperform” rating and a $52.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $52.52.
Shares of Essent Group Ltd (ESNT) opened at $47.23 on Monday. Essent Group Ltd has a 12-month low of $33.45 and a 12-month high of $50.08. The stock has a market capitalization of $4,650.00, a price-to-earnings ratio of 11.93, a PEG ratio of 0.99 and a beta of 1.15.
Essent Group (NYSE:ESNT) last issued its quarterly earnings data on Friday, February 9th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Essent Group had a return on equity of 18.84% and a net margin of 65.87%. The business had revenue of $161.77 million for the quarter, compared to the consensus estimate of $155.22 million. During the same period in the prior year, the business earned $0.68 earnings per share. The business’s revenue was up 28.0% on a year-over-year basis. analysts forecast that Essent Group Ltd will post 4.34 EPS for the current fiscal year.
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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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