Sentinel Trust Co. LBA bought a new position in shares of Essent Group Ltd (NYSE:ESNT) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 18,065 shares of the financial services provider’s stock, valued at approximately $648,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mount Yale Investment Advisors LLC acquired a new stake in Essent Group in the first quarter valued at approximately $155,000. FDx Advisors Inc. acquired a new stake in Essent Group in the first quarter valued at approximately $200,000. Element Capital Management LLC acquired a new stake in Essent Group in the first quarter valued at approximately $242,000. LPL Financial LLC grew its stake in Essent Group by 35.9% in the first quarter. LPL Financial LLC now owns 6,994 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 1,847 shares during the period. Finally, Unison Advisors LLC acquired a new stake in Essent Group in the second quarter valued at approximately $280,000. 90.09% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Vijay Bhasin sold 27,869 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $44.64, for a total value of $1,244,072.16. Following the completion of the transaction, the senior vice president now directly owns 278,515 shares in the company, valued at approximately $12,432,909.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mary Lourdes Gibbons sold 18,781 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $45.15, for a total value of $847,962.15. Following the completion of the transaction, the senior vice president now owns 223,412 shares of the company’s stock, valued at $10,087,051.80. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.
Shares of NYSE ESNT opened at $45.26 on Monday. Essent Group Ltd has a fifty-two week low of $32.73 and a fifty-two week high of $50.08. The firm has a market capitalization of $4.41 billion, a PE ratio of 14.60, a P/E/G ratio of 0.99 and a beta of 1.26.
Essent Group (NYSE:ESNT) last posted its earnings results on Friday, August 3rd. The financial services provider reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.08. Essent Group had a return on equity of 19.37% and a net margin of 71.08%. The business had revenue of $173.77 million during the quarter, compared to analysts’ expectations of $174.06 million. During the same period in the previous year, the business earned $0.77 earnings per share. The firm’s revenue was up 26.3% on a year-over-year basis. analysts anticipate that Essent Group Ltd will post 4.54 EPS for the current year.
Several analysts have issued reports on the company. Susquehanna Bancshares boosted their target price on Essent Group from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 6th. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, June 19th. MKM Partners lowered their target price on Essent Group to $40.00 and set a “neutral” rating on the stock in a research note on Monday, August 6th. JPMorgan Chase & Co. lowered their target price on Essent Group from $51.00 to $40.00 and set a “$38.36” rating on the stock in a research note on Monday, July 23rd. Finally, ValuEngine upgraded Essent Group from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $49.48.
About Essent Group
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.
Further Reading: Return on Investment (ROI)
Want to see what other hedge funds are holding ESNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essent Group Ltd (NYSE:ESNT).
Receive News & Ratings for Essent Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essent Group and related companies with MarketBeat.com's FREE daily email newsletter.