Origin Asset Management LLP raised its holdings in Essent Group Ltd (NYSE:ESNT) by 876.1% during the 1st quarter, Holdings Channel reports. The fund owned 69,077 shares of the financial services provider’s stock after buying an additional 62,000 shares during the period. Origin Asset Management LLP’s holdings in Essent Group were worth $3,001,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in ESNT. TIAA CREF Investment Management LLC grew its position in Essent Group by 17.6% in the third quarter. TIAA CREF Investment Management LLC now owns 767,250 shares of the financial services provider’s stock valued at $33,951,000 after purchasing an additional 114,577 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Essent Group by 12.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,888 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 668 shares in the last quarter. Quantamental Technologies LLC bought a new position in Essent Group in the fourth quarter valued at $47,000. Rhumbline Advisers grew its position in Essent Group by 45.3% in the fourth quarter. Rhumbline Advisers now owns 132,038 shares of the financial services provider’s stock valued at $4,513,000 after purchasing an additional 41,165 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in Essent Group by 20.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 50,018 shares of the financial services provider’s stock valued at $1,710,000 after purchasing an additional 8,351 shares in the last quarter. 90.13% of the stock is currently owned by institutional investors.
In other news, SVP Jeff Cashmer sold 25,000 shares of Essent Group stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $45.56, for a total value of $1,139,000.00. Following the completion of the transaction, the senior vice president now owns 107,056 shares of the company’s stock, valued at approximately $4,877,471.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Lawrence E. Mcalee, Jr. sold 10,000 shares of Essent Group stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $47.61, for a total transaction of $476,100.00. Following the completion of the transaction, the chief financial officer now directly owns 219,883 shares of the company’s stock, valued at approximately $10,468,629.63. The disclosure for this sale can be found here. In the last three months, insiders sold 80,315 shares of company stock valued at $3,631,618. Insiders own 2.90% of the company’s stock.
Separately, Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $49.60.
Shares of ESNT traded up $0.01 during midday trading on Wednesday, reaching $48.99. The stock had a trading volume of 12,427 shares, compared to its average volume of 600,924. Essent Group Ltd has a one year low of $31.08 and a one year high of $50.51. The company has a market cap of $4.83 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 0.92 and a beta of 1.40.
Essent Group (NYSE:ESNT) last announced its quarterly earnings data on Friday, May 3rd. The financial services provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.02. Essent Group had a net margin of 64.33% and a return on equity of 21.36%. The company had revenue of $200.53 million during the quarter, compared to the consensus estimate of $196.94 million. During the same quarter last year, the firm posted $1.13 EPS. The company’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, analysts expect that Essent Group Ltd will post 5.3 earnings per share for the current year.
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Essent Group Company 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.
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