Los Angeles Capital Management LLC Sells 12,880 Shares of Essent Group Ltd. (NYSE:ESNT)

Los Angeles Capital Management LLC lessened its stake in shares of Essent Group Ltd. (NYSE:ESNT) by 44.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,057 shares of the financial services provider’s stock after selling 12,880 shares during the period. Los Angeles Capital Management LLC’s holdings in Essent Group were worth $847,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ESNT. Ameriprise Financial Inc. increased its stake in shares of Essent Group by 1.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,453,168 shares of the financial services provider’s stock worth $68,720,000 after purchasing an additional 14,145 shares during the last quarter. Acadian Asset Management LLC increased its position in Essent Group by 6,932.3% during the third quarter. Acadian Asset Management LLC now owns 47,187 shares of the financial services provider’s stock worth $2,230,000 after buying an additional 46,516 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Essent Group by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,471,258 shares of the financial services provider’s stock valued at $69,576,000 after buying an additional 35,484 shares during the period. Clearbridge Investments LLC lifted its position in shares of Essent Group by 533.4% in the third quarter. Clearbridge Investments LLC now owns 257,359 shares of the financial services provider’s stock valued at $12,171,000 after buying an additional 216,730 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of Essent Group during the 3rd quarter worth approximately $534,000. 93.00% of the stock is owned by institutional investors and hedge funds.

Essent Group Stock Up 0.9 %

Shares of NYSE:ESNT opened at $56.53 on Friday. Essent Group Ltd. has a 12-month low of $43.12 and a 12-month high of $59.90. The company’s 50 day moving average price is $55.40 and its two-hundred day moving average price is $52.69. The firm has a market cap of $6.04 billion, a PE ratio of 8.55, a PEG ratio of 0.83 and a beta of 1.05.

Essent Group (NYSE:ESNT) 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. The business had revenue of $298.40 million for the quarter, compared to the consensus estimate of $298.69 million. Essent Group had a return on equity of 14.24% and a net margin of 61.40%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.59 earnings per share. On average, research analysts expect that Essent Group Ltd. will post 6.56 EPS for the current year.

Essent Group Dividend Announcement

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

Analysts Set New Price Targets

ESNT has been the subject of several research reports. Keefe, Bruyette & Woods raised their price target on Essent Group from $62.00 to $64.00 and gave the company a “market perform” rating in a report on Thursday, April 4th. StockNews.com downgraded shares of Essent Group from a “buy” rating to a “hold” rating in a report on Monday, March 4th. JPMorgan Chase & Co. cut shares of Essent Group from an “overweight” rating to a “neutral” rating and increased their price target for the company from $58.00 to $61.00 in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada cut their price objective on shares of Essent Group from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.75.

Essent Group Profile

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.