Essent Group Ltd. (NYSE:ESNT) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lessened its stake in Essent Group Ltd. (NYSE:ESNTFree Report) by 0.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,312 shares of the financial services provider’s stock after selling 422 shares during the period. Nordea Investment Management AB owned about 0.07% of Essent Group worth $4,387,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Fairman Group LLC purchased a new stake in Essent Group in the 4th quarter worth $6,195,000. Vanguard Group Inc. increased its holdings in Essent Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 11,477,434 shares of the financial services provider’s stock worth $605,320,000 after acquiring an additional 75,825 shares in the last quarter. NFC Investments LLC purchased a new stake in shares of Essent Group during the fourth quarter worth $2,976,000. True Wealth Design LLC purchased a new stake in shares of Essent Group during the fourth quarter worth $837,000. Finally, Norges Bank purchased a new stake in shares of Essent Group during the fourth quarter worth $60,678,000. Hedge funds and other institutional investors own 93.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ESNT shares. Royal Bank of Canada dropped their target price on shares of Essent Group from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Keefe, Bruyette & Woods upped their target price on shares of Essent Group from $62.00 to $64.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. upped their target price on shares of Essent Group from $61.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday. UBS Group upped their target price on shares of Essent Group from $57.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. Finally, Barclays upped their target price on shares of Essent Group from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Essent Group has a consensus rating of “Hold” and an average target price of $59.88.

Get Our Latest Analysis on Essent Group

Insider Buying and Selling

In related news, Director Douglas J. Pauls sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $56.12, for a total transaction of $140,300.00. Following the sale, the director now directly owns 27,112 shares in the company, valued at $1,521,525.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.20% of the company’s stock.

Essent Group Price Performance

NYSE ESNT opened at $55.16 on Wednesday. The firm’s 50-day moving average is $56.05 and its two-hundred day moving average is $54.95. Essent Group Ltd. has a 12 month low of $45.63 and a 12 month high of $59.90. The stock has a market capitalization of $5.88 billion, a P/E ratio of 8.34, a PEG ratio of 1.21 and a beta of 1.11.

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 the consensus estimate of $1.56 by $0.14. The business had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $298.69 million. Essent Group had a net margin of 61.40% and a return on equity of 14.24%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.59 earnings per share. As a group, analysts anticipate that Essent Group Ltd. will post 6.73 EPS for the current year.

Essent Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 31st were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.03%. Essent Group’s payout ratio is 16.94%.

About Essent Group

(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.

Further Reading

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

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