First Trust Advisors LP Has $34.30 Million Stake in Essent Group Ltd. (NYSE:ESNT)

First Trust Advisors LP lifted its stake in shares of Essent Group Ltd. (NYSE:ESNTFree Report) by 31.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 650,270 shares of the financial services provider’s stock after acquiring an additional 154,591 shares during the period. First Trust Advisors LP owned 0.61% of Essent Group worth $34,295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Essent Group by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,025,836 shares of the financial services provider’s stock valued at $212,326,000 after acquiring an additional 258,246 shares during the period. Charles Schwab Investment Management Inc. grew its position in Essent Group by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,496,741 shares of the financial services provider’s stock valued at $78,938,000 after purchasing an additional 25,483 shares during the period. Ameriprise Financial Inc. increased its stake in 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 valued at $68,720,000 after purchasing an additional 14,145 shares in the last quarter. Norges Bank acquired a new position in Essent Group during the fourth quarter worth $60,678,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Essent Group by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,126,303 shares of the financial services provider’s stock valued at $59,401,000 after buying an additional 7,604 shares in the last quarter. 93.00% of the stock is owned by institutional investors.

Essent Group Stock Down 0.5 %

Shares of ESNT stock opened at $56.47 on Monday. The firm has a market cap of $6.02 billion, a P/E ratio of 8.54, a PEG ratio of 1.24 and a beta of 1.09. The company has a 50 day moving average of $55.53 and a 200-day moving average of $54.03. Essent Group Ltd. has a 12-month low of $44.21 and a 12-month high of $59.90.

Essent Group (NYSE:ESNTGet Free Report) last released its 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 return on equity of 14.24% and a net margin of 61.40%. The business had revenue of $298.40 million during the quarter, compared to the consensus estimate of $298.69 million. During the same period last year, the business posted $1.59 earnings per share. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities analysts expect that Essent Group Ltd. will post 6.73 EPS for the current year.

Essent Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 31st will be given a dividend of $0.28 per share. 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 presently 16.94%.

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on ESNT

Insider Transactions at Essent Group

In other Essent Group news, Director Douglas J. Pauls sold 2,500 shares of the business’s stock in a transaction 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 owns 27,112 shares of the company’s stock, valued at approximately $1,521,525.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Essent Group Company 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

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

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