Shell Asset Management Co. Trims Holdings in Essent Group Ltd. (NYSE:ESNT)

Shell Asset Management Co. trimmed its position in shares of Essent Group Ltd. (NYSE:ESNTGet Rating) by 12.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 17,066 shares of the financial services provider’s stock after selling 2,526 shares during the quarter. Shell Asset Management Co.’s holdings in Essent Group were worth $703,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in Essent Group during the 4th quarter valued at about $17,915,000. Causeway Capital Management LLC lifted its stake in Essent Group by 9.8% during the 4th quarter. Causeway Capital Management LLC now owns 2,368,501 shares of the financial services provider’s stock valued at $107,838,000 after acquiring an additional 210,461 shares during the period. Hillsdale Investment Management Inc. bought a new position in Essent Group during the 4th quarter valued at about $5,805,000. Dimensional Fund Advisors LP lifted its stake in Essent Group by 7.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,695,584 shares of the financial services provider’s stock valued at $77,199,000 after acquiring an additional 113,260 shares during the period. Finally, Epoch Investment Partners Inc. lifted its stake in Essent Group by 7.5% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,516,408 shares of the financial services provider’s stock valued at $69,043,000 after acquiring an additional 106,256 shares during the period. 92.72% of the stock is owned by hedge funds and other institutional investors.

Essent Group Stock Up 1.0 %

Shares of NYSE:ESNT opened at $42.16 on Tuesday. The firm’s 50 day moving average price is $40.00 and its 200-day moving average price is $41.84. Essent Group Ltd. has a twelve month low of $35.53 and a twelve month high of $50.17. The stock has a market capitalization of $4.54 billion, a PE ratio of 5.68, a price-to-earnings-growth ratio of 0.56 and a beta of 1.18.

Essent Group (NYSE:ESNTGet Rating) last released its earnings results on Friday, May 6th. The financial services provider reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.90. Essent Group had a net margin of 78.25% and a return on equity of 19.64%. The company had revenue of $264.60 million for the quarter, compared to analysts’ expectations of $240.09 million. During the same quarter last year, the business earned $1.21 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Analysts expect that Essent Group Ltd. will post 7.49 earnings per share for the current fiscal year.

Essent Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Wednesday, June 1st were paid a dividend of $0.21 per share. This is a boost from Essent Group’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, May 31st. This represents a $0.84 dividend on an annualized basis and a yield of 1.99%. Essent Group’s dividend payout ratio (DPR) is presently 11.32%.

Insiders Place Their Bets

In other Essent Group news, Director Douglas J. Pauls sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $41.75, for a total transaction of $100,200.00. Following the sale, the director now owns 26,630 shares in the company, valued at approximately $1,111,802.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on ESNT shares. BTIG Research lowered their target price on shares of Essent Group from $58.00 to $55.00 in a research note on Tuesday, April 12th. JPMorgan Chase & Co. upgraded shares of Essent Group from a “neutral” rating to an “overweight” rating and set a $47.00 target price on the stock in a research note on Monday, April 11th. Finally, The Goldman Sachs Group lowered their price objective on shares of Essent Group from $55.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, April 4th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Essent Group presently has an average rating of “Moderate Buy” and a consensus price target of $54.17.

About Essent Group

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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.

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Institutional Ownership by Quarter for Essent Group (NYSE:ESNT)

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