Epoch Investment Partners Inc. lowered its stake in Essent Group Ltd. (NYSE:ESNT - Free Report) by 81.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,383 shares of the financial services provider's stock after selling 229,090 shares during the quarter. Epoch Investment Partners Inc.'s holdings in Essent Group were worth $2,943,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of ESNT. Norges Bank bought a new stake in Essent Group in the 4th quarter worth approximately $60,678,000. UBS Group AG raised its stake in Essent Group by 45.0% during the fourth quarter. UBS Group AG now owns 271,077 shares of the financial services provider's stock valued at $14,297,000 after purchasing an additional 84,087 shares in the last quarter. Trexquant Investment LP bought a new position in Essent Group during the fourth quarter valued at $365,000. Franklin Resources Inc. grew its stake in shares of Essent Group by 12.2% in the 4th quarter. Franklin Resources Inc. now owns 35,191 shares of the financial services provider's stock worth $1,856,000 after buying an additional 3,816 shares in the last quarter. Finally, Provident Investment Management Inc. increased its holdings in shares of Essent Group by 23.2% in the 4th quarter. Provident Investment Management Inc. now owns 11,405 shares of the financial services provider's stock worth $602,000 after buying an additional 2,150 shares during the last quarter. Hedge funds and other institutional investors own 93.00% of the company's stock.
In related news, CFO David B. Weinstock sold 2,000 shares of Essent Group stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total value of $127,180.00. Following the completion of the sale, the chief financial officer now directly owns 25,416 shares in the company, valued at $1,616,203.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Essent Group news, SVP Vijay Bhasin sold 11,188 shares of the company's stock in a transaction on Monday, July 15th. The stock was sold at an average price of $60.14, for a total transaction of $672,846.32. Following the completion of the sale, the senior vice president now owns 199,359 shares in the company, valued at $11,989,450.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David B. Weinstock sold 2,000 shares of Essent Group stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total value of $127,180.00. Following the completion of the transaction, the chief financial officer now owns 25,416 shares in the company, valued at $1,616,203.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,188 shares of company stock valued at $1,094,076. 2.90% of the stock is currently owned by corporate insiders.
Several research analysts recently commented on the company. Royal Bank of Canada lifted their price target on Essent Group from $61.00 to $67.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on Essent Group from $62.00 to $63.00 and gave the company a "neutral" rating in a research report on Monday, August 5th. BTIG Research raised their price target on Essent Group from $61.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Barclays boosted their price objective on shares of Essent Group from $63.00 to $64.00 and gave the company an "overweight" rating in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods upgraded shares of Essent Group from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $65.00 to $70.00 in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.33.
Read Our Latest Research Report on Essent Group
ESNT stock opened at $64.20 on Tuesday. Essent Group Ltd. has a twelve month low of $45.63 and a twelve month high of $65.33. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 1.53 and a beta of 1.12. The business's fifty day simple moving average is $61.92 and its two-hundred day simple moving average is $58.06.
Essent Group (NYSE:ESNT - Get Free Report) last issued its earnings results on Friday, August 2nd. The financial services provider reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.68 by $0.23. The business had revenue of $272.90 million for the quarter, compared to the consensus estimate of $308.33 million. Essent Group had a net margin of 61.31% and a return on equity of 14.40%. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 EPS. Research analysts expect that Essent Group Ltd. will post 7.02 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 30th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Friday, August 30th. Essent Group's dividend payout ratio is 16.94%.
Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its mortgage insurance products include primary, pool, and master policy. The company also provides information technology maintenance and development services; customer support-related services; underwriting consulting; and contract underwriting services, as well as risk management products and title insurance and settlement services.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Essent Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Essent Group wasn't on the list.
While Essent Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.