Rhumbline Advisers Has $3.44 Million Position in Essent Group (ESNT)

Rhumbline Advisers cut its holdings in Essent Group (NYSE:ESNT) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,140 shares of the financial services provider’s stock after selling 9,728 shares during the period. Rhumbline Advisers owned approximately 0.08% of Essent Group worth $3,436,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Telemus Capital LLC purchased a new position in shares of Essent Group during the fourth quarter valued at about $204,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Essent Group by 50.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,735 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 1,590 shares in the last quarter. Trust Co. of Toledo NA OH bought a new stake in Essent Group during the fourth quarter worth about $208,000. Teacher Retirement System of Texas boosted its stake in Essent Group by 23.2% during the third quarter. Teacher Retirement System of Texas now owns 6,904 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 1,299 shares in the last quarter. Finally, Invictus RG bought a new stake in Essent Group during the third quarter worth about $286,000. 89.01% of the stock is owned by institutional investors and hedge funds.

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ESNT stock opened at $42.07 on Friday. The firm has a market cap of $4,178.82, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 0.88 and a beta of 1.17. Essent Group has a 52 week low of $34.08 and a 52 week high of $50.08.

Essent Group (NYSE:ESNT) last released its earnings results on Friday, February 9th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The firm had revenue of $161.77 million during the quarter, compared to analyst estimates of $155.22 million. Essent Group had a net margin of 65.87% and a return on equity of 17.77%. The business’s revenue was up 28.0% on a year-over-year basis. During the same quarter last year, the business earned $0.68 EPS. equities research analysts forecast that Essent Group will post 4.42 EPS for the current fiscal year.

In other Essent Group news, CEO Mark Casale sold 370,673 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $44.50, for a total transaction of $16,494,948.50. Following the transaction, the chief executive officer now owns 1,845,356 shares of the company’s stock, valued at approximately $82,118,342. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.10% of the company’s stock.

Several research analysts have recently issued reports on the stock. Macquarie assumed coverage on shares of Essent Group in a research note on Wednesday, March 14th. They issued an “outperform” rating and a $62.00 target price on the stock. Wells Fargo restated a “buy” rating on shares of Essent Group in a research report on Tuesday, March 13th. Royal Bank of Canada increased their price objective on shares of Essent Group to $59.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Zelman & Associates raised shares of Essent Group from a “hold” rating to a “buy” rating in a report on Monday, February 12th. Finally, Compass Point upped their target price on shares of Essent Group from $57.50 to $60.75 and gave the company a “buy” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $53.31.

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Essent Group Profile

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.

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

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