Swiss National Bank Reduces Position in Essent Group Ltd. (NYSE:ESNT)

Swiss National Bank cut its stake in shares of Essent Group Ltd. (NYSE:ESNTGet Rating) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 256,191 shares of the financial services provider’s stock after selling 4,900 shares during the quarter. Swiss National Bank’s holdings in Essent Group were worth $9,966,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ESNT. Comerica Bank grew its holdings in shares of Essent Group by 2.0% during the first quarter. Comerica Bank now owns 51,751 shares of the financial services provider’s stock valued at $2,269,000 after buying an additional 991 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Essent Group by 5.7% during the first quarter. Envestnet Asset Management Inc. now owns 213,702 shares of the financial services provider’s stock valued at $8,807,000 after purchasing an additional 11,466 shares during the period. Victory Capital Management Inc. lifted its position in Essent Group by 30.6% during the first quarter. Victory Capital Management Inc. now owns 47,268 shares of the financial services provider’s stock valued at $1,916,000 after purchasing an additional 11,063 shares during the period. Los Angeles Capital Management LLC lifted its position in Essent Group by 4.3% during the first quarter. Los Angeles Capital Management LLC now owns 50,218 shares of the financial services provider’s stock valued at $2,069,000 after purchasing an additional 2,060 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in Essent Group by 5.5% during the first quarter. Teacher Retirement System of Texas now owns 22,732 shares of the financial services provider’s stock valued at $937,000 after purchasing an additional 1,184 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Aditya Dutt sold 6,000 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $39.23, for a total transaction of $235,380.00. Following the completion of the transaction, the director now owns 23,023 shares in the company, valued at approximately $903,192.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.90% of the company’s stock.

Essent Group Stock Up 1.1 %

ESNT opened at $38.37 on Monday. Essent Group Ltd. has a twelve month low of $34.27 and a twelve month high of $50.17. The company has a 50-day moving average price of $37.49 and a 200 day moving average price of $39.55. The company has a market cap of $4.13 billion, a PE ratio of 4.81, a price-to-earnings-growth ratio of 0.48 and a beta of 1.20.

Essent Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Thursday, December 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, November 30th. This is an increase from Essent Group’s previous quarterly dividend of $0.22. Essent Group’s dividend payout ratio is 11.03%.

Analyst Ratings Changes

ESNT has been the subject of a number of research reports. BTIG Research decreased their target price on shares of Essent Group from $54.00 to $45.00 in a research report on Friday, November 4th. The Goldman Sachs Group decreased their price objective on shares of Essent Group from $51.00 to $43.50 and set a “buy” rating for the company in a research report on Tuesday, October 4th. JPMorgan Chase & Co. decreased their price objective on shares of Essent Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, October 18th. Barclays decreased their price objective on shares of Essent Group from $72.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, October 13th. Finally, Royal Bank of Canada decreased their price objective on shares of Essent Group from $53.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday, November 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Essent Group has an average rating of “Moderate Buy” and an average price target of $48.75.

About Essent Group

(Get Rating)

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.

Further Reading

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

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