Essent Group Ltd. (NYSE:ESNT) Stock Position Lifted by Swiss National Bank

Swiss National Bank boosted its stake in Essent Group Ltd. (NYSE:ESNT – Get Rating) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 259,991 shares of the financial services provider’s stock after buying an additional 4,800 shares during the quarter. Swiss National Bank owned approximately 0.24% of Essent Group worth $10,108,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Barclays PLC raised its position in Essent Group by 172.1% during the third quarter. Barclays PLC now owns 75,845 shares of the financial services provider’s stock valued at $2,646,000 after acquiring an additional 47,974 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Essent Group by 511.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 46,018 shares of the financial services provider’s stock valued at $1,605,000 after purchasing an additional 38,487 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Essent Group in the 3rd quarter valued at $5,339,000. Credit Suisse AG boosted its holdings in Essent Group by 3.2% in the third quarter. Credit Suisse AG now owns 97,849 shares of the financial services provider’s stock worth $3,412,000 after purchasing an additional 3,014 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Essent Group during the third quarter worth $1,041,000. Institutional investors and hedge funds own 92.07% of the company’s stock.

Essent Group Trading Up 2.1 %

Shares of ESNT stock opened at $44.17 on Tuesday. The firm has a market capitalization of $4.74 billion, a P/E ratio of 6.51, a price-to-earnings-growth ratio of 0.70 and a beta of 1.16. Essent Group Ltd. has a 1 year low of $34.27 and a 1 year high of $45.01. The firm’s fifty day simple moving average is $40.76 and its 200 day simple moving average is $40.44.

Essent Group (NYSE:ESNT – Get Rating) last posted its quarterly earnings data on Friday, May 5th. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.16. Essent Group had a net margin of 73.35% and a return on equity of 16.47%. The company had revenue of $256.30 million for the quarter, compared to the consensus estimate of $250.57 million. During the same quarter in the previous year, the firm posted $2.52 EPS. The business’s revenue was down 3.1% compared to the same quarter last year. Equities research analysts anticipate that Essent Group Ltd. will post 6.1 EPS for the current fiscal year.

Essent Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Thursday, June 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.00 annualized dividend and a yield of 2.26%. Essent Group’s dividend payout ratio (DPR) is 14.75%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Essent Group from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, April 17th. StockNews.com assumed coverage on Essent Group in a report on Thursday, March 16th. They set a “hold” rating on the stock. Roth Capital reaffirmed a “buy” rating on shares of Essent Group in a report on Monday, February 13th. Finally, Royal Bank of Canada lifted their target price on shares of Essent Group from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, February 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.80.

Insider Transactions at Essent Group

In related news, Director Douglas J. Pauls sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $43.49, for a total value of $108,725.00. Following the completion of the transaction, the director now directly owns 26,575 shares of the company’s stock, valued at $1,155,746.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.

About Essent Group

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Essent Group Ltd. is a holding company, which engages in the provision of banking services. It offers mortgage insurance, reinsurance, and risk management products. The company was founded by Mark A. Casale on July 1, 2008 and is headquartered in Hamilton, Bermuda.