Essent Group Ltd. (NYSE:ESNT) Shares Sold by American International Group Inc.

American International Group Inc. reduced its position in shares of Essent Group Ltd. (NYSE:ESNTFree Report) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 195,459 shares of the financial services provider’s stock after selling 7,253 shares during the period. American International Group Inc. owned 0.18% of Essent Group worth $10,309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ESNT. Contravisory Investment Management Inc. acquired a new stake in Essent Group during the fourth quarter worth about $26,000. GAMMA Investing LLC acquired a new stake in Essent Group during the fourth quarter worth about $37,000. Quantbot Technologies LP acquired a new stake in Essent Group during the third quarter worth about $77,000. Parkside Financial Bank & Trust boosted its stake in Essent Group by 18.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,543 shares of the financial services provider’s stock worth $81,000 after buying an additional 241 shares during the period. Finally, Planned Solutions Inc. purchased a new position in Essent Group during the fourth quarter worth about $126,000. 93.00% of the stock is currently owned by institutional investors and hedge funds.

Essent Group Stock Down 0.6 %

Shares of Essent Group stock opened at $56.46 on Friday. Essent Group Ltd. has a 52-week low of $44.21 and a 52-week high of $59.90. The company has a 50 day moving average of $55.53 and a 200 day moving average of $53.94. The company has a market capitalization of $6.02 billion, a P/E ratio of 8.54, a P/E/G ratio of 1.25 and a beta of 1.09.

Essent Group (NYSE:ESNTGet Free Report) last issued its quarterly earnings results on Friday, May 3rd. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.14. Essent Group had a net margin of 61.40% and a return on equity of 14.24%. The company had revenue of $298.40 million during the quarter, compared to the consensus estimate of $298.69 million. During the same quarter in the previous year, the firm earned $1.59 earnings per share. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, research analysts anticipate that Essent Group Ltd. will post 6.73 earnings per share for the current fiscal year.

Essent Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 31st will be paid a $0.28 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.12 dividend on an annualized basis and a yield of 1.98%. Essent Group’s dividend payout ratio is currently 16.94%.

Insider Buying and Selling

In related news, Director Douglas J. Pauls sold 2,500 shares of Essent Group stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $56.12, for a total value of $140,300.00. Following the completion of the transaction, the director now owns 27,112 shares in the company, valued at $1,521,525.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ESNT has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Essent Group from $62.00 to $64.00 and gave the stock a “market perform” rating in a research note on Thursday, April 4th. StockNews.com lowered shares of Essent Group from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Royal Bank of Canada lowered their target price on shares of Essent Group from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. JPMorgan Chase & Co. lowered shares of Essent Group from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $58.00 to $61.00 in a research note on Wednesday, April 3rd. Finally, UBS Group raised their price objective on shares of Essent Group from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, May 22nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Essent Group presently has a consensus rating of “Hold” and an average price target of $59.25.

Get Our Latest Stock Report on Essent Group

Essent Group Profile

(Free Report)

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.

See Also

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

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