Los Angeles Capital Management & Equity Research Inc. decreased its position in shares of Essent Group Ltd (NYSE:ESNT) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,816 shares of the financial services provider’s stock after selling 18,153 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.23% of Essent Group worth $9,725,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Essent Group by 1.8% in the fourth quarter. FMR LLC now owns 8,798,551 shares of the financial services provider’s stock valued at $300,735,000 after buying an additional 159,702 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Essent Group by 4.3% in the fourth quarter. BlackRock Inc. now owns 7,801,470 shares of the financial services provider’s stock valued at $266,654,000 after buying an additional 319,226 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Essent Group by 8.3% in the fourth quarter. Macquarie Group Ltd. now owns 2,015,345 shares of the financial services provider’s stock valued at $68,885,000 after buying an additional 155,261 shares in the last quarter. APG Asset Management N.V. boosted its stake in shares of Essent Group by 1.6% in the fourth quarter. APG Asset Management N.V. now owns 1,861,100 shares of the financial services provider’s stock valued at $55,647,000 after buying an additional 29,000 shares in the last quarter. Finally, Polar Capital LLP boosted its stake in shares of Essent Group by 2.8% in the fourth quarter. Polar Capital LLP now owns 1,825,000 shares of the financial services provider’s stock valued at $62,379,000 after buying an additional 50,000 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors.
Several equities analysts recently issued reports on the company. ValuEngine raised Essent Group from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Zacks Investment Research cut Essent Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $49.60.
In related news, SVP Vijay Bhasin sold 45,315 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $44.50, for a total value of $2,016,517.50. Following the completion of the transaction, the senior vice president now directly owns 194,302 shares in the company, valued at $8,646,439. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeff Cashmer sold 25,000 shares of the company’s stock in a transaction on 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 $4,877,471.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 121,322 shares of company stock valued at $5,408,041. Insiders own 2.90% of the company’s stock.
ESNT stock traded up $0.30 during midday trading on Wednesday, hitting $48.06. 518,089 shares of the stock were exchanged, compared to its average volume of 584,750. The stock has a market cap of $4.70 billion, a PE ratio of 9.91, a P/E/G ratio of 0.89 and a beta of 1.50. Essent Group Ltd has a fifty-two week low of $31.08 and a fifty-two week high of $48.88.
Essent Group (NYSE:ESNT) last issued its quarterly earnings data on Friday, May 3rd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.02. Essent Group had a return on equity of 21.36% and a net margin of 64.33%. The firm had revenue of $200.53 million during the quarter, compared to analysts’ expectations of $196.94 million. During the same period in the previous year, the firm posted $1.13 earnings per share. Essent Group’s revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Essent Group Ltd will post 5.3 EPS 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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