Zurcher Kantonalbank Zurich Cantonalbank Has $1.26 Million Stock Position in Essent Group Ltd. (NYSE:ESNT)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Essent Group Ltd. (NYSE:ESNT) by 18.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,806 shares of the financial services provider’s stock after buying an additional 3,792 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Essent Group were worth $1,256,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in Essent Group during the fourth quarter worth about $26,000. Quantbot Technologies LP purchased a new position in Essent Group during the third quarter worth about $77,000. Planned Solutions Inc. purchased a new position in Essent Group during the fourth quarter worth about $126,000. DekaBank Deutsche Girozentrale purchased a new position in Essent Group during the third quarter worth about $157,000. Finally, Seven Eight Capital LP purchased a new position in Essent Group during the third quarter worth about $219,000. 93.00% of the stock is currently owned by institutional investors and hedge funds.

Essent Group Trading Up 0.2 %

Essent Group stock opened at $53.98 on Friday. The firm’s 50 day simple moving average is $55.01 and its 200 day simple moving average is $52.28. The firm has a market capitalization of $5.77 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 0.83 and a beta of 1.04. Essent Group Ltd. has a 1-year low of $40.33 and a 1-year high of $59.90.

Essent Group (NYSE:ESNT) last posted its earnings results on Friday, February 9th. The financial services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The business had revenue of $297.30 million for the quarter, compared to analyst estimates of $286.18 million. Essent Group had a net margin of 62.75% and a return on equity of 14.44%. Essent Group’s revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.37 EPS. Research analysts forecast that Essent Group Ltd. will post 6.56 earnings per share for the current year.

Essent Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Wednesday, March 13th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, March 12th. This is a boost from Essent Group’s previous quarterly dividend of $0.25. Essent Group’s payout ratio is currently 17.23%.

Wall Street Analysts Forecast Growth

Several analysts have commented on ESNT shares. StockNews.com lowered shares of Essent Group from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. lowered shares of Essent Group from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $58.00 to $61.00 in a research report on Wednesday, April 3rd. Royal Bank of Canada lifted their price objective on shares of Essent Group from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Essent Group from $62.00 to $64.00 and gave the stock a “market perform” rating in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.38.

About Essent Group

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.