Intech Investment Management LLC Raises Position in Essent Group Ltd. $ESNT

Intech Investment Management LLC raised its holdings in shares of Essent Group Ltd. (NYSE:ESNT) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 271,788 shares of the financial services provider’s stock after buying an additional 5,251 shares during the quarter. Intech Investment Management LLC owned about 0.27% of Essent Group worth $15,688,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. AdvisorNet Financial Inc purchased a new stake in shares of Essent Group in the 1st quarter valued at about $25,000. Summit Securities Group LLC bought a new position in shares of Essent Group in the first quarter worth approximately $46,000. UMB Bank n.a. raised its stake in Essent Group by 330.6% in the first quarter. UMB Bank n.a. now owns 1,098 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 843 shares in the last quarter. Fifth Third Bancorp lifted its position in Essent Group by 20.2% during the first quarter. Fifth Third Bancorp now owns 1,114 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 187 shares during the last quarter. Finally, State of Wyoming lifted its position in Essent Group by 102.0% during the fourth quarter. State of Wyoming now owns 1,687 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 852 shares during the last quarter. 93.00% of the stock is currently owned by institutional investors.

Insider Activity at Essent Group

In other news, Director William Spiegel sold 6,451 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $62.74, for a total value of $404,735.74. Following the completion of the sale, the director directly owned 26,252 shares of the company’s stock, valued at approximately $1,647,050.48. This trade represents a 19.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David B. Weinstock sold 2,500 shares of Essent Group stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $58.79, for a total transaction of $146,975.00. Following the sale, the chief financial officer directly owned 27,365 shares in the company, valued at $1,608,788.35. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,950 shares of company stock worth $919,651 over the last quarter. Corporate insiders own 3.40% of the company’s stock.

Essent Group Stock Down 1.2%

NYSE ESNT opened at $63.09 on Wednesday. Essent Group Ltd. has a 1 year low of $51.61 and a 1 year high of $65.33. The stock has a market capitalization of $6.22 billion, a PE ratio of 9.21, a PEG ratio of 2.76 and a beta of 0.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50-day moving average is $59.80 and its 200 day moving average is $58.10.

Essent Group (NYSE:ESNT) last released its quarterly earnings results on Friday, August 8th. The financial services provider reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The business had revenue of $319.14 million during the quarter, compared to analyst estimates of $317.46 million. Essent Group had a return on equity of 12.66% and a net margin of 56.36%.Essent Group’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.91 EPS. Sell-side analysts forecast that Essent Group Ltd. will post 6.88 earnings per share for the current year.

Essent Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.24 dividend on an annualized basis and a yield of 2.0%. Essent Group’s dividend payout ratio (DPR) is presently 18.10%.

Wall Street Analysts Forecast Growth

ESNT has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued an “outperform” rating on shares of Essent Group in a report on Friday, August 8th. The Goldman Sachs Group set a $60.00 target price on shares of Essent Group and gave the company a “neutral” rating in a report on Friday, August 8th. JPMorgan Chase & Co. set a $60.00 target price on shares of Essent Group in a research report on Friday, August 8th. Compass Point restated a “buy” rating on shares of Essent Group in a research report on Friday, August 8th. Finally, DOWLING & PARTN cut Essent Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Essent Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.67.

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. 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.