Mutual of America Capital Management LLC Sells 2,055 Shares of Essent Group Ltd. (NYSE:ESNT)

Mutual of America Capital Management LLC reduced its position in shares of Essent Group Ltd. (NYSE:ESNT) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 218,145 shares of the financial services provider’s stock after selling 2,055 shares during the period. Mutual of America Capital Management LLC owned 0.21% of Essent Group worth $12,591,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Cerity Partners LLC bought a new stake in shares of Essent Group during the 1st quarter worth $890,000. Alps Advisors Inc. boosted its holdings in shares of Essent Group by 7.8% during the 1st quarter. Alps Advisors Inc. now owns 145,465 shares of the financial services provider’s stock worth $8,396,000 after buying an additional 10,465 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Essent Group by 7.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 69,879 shares of the financial services provider’s stock worth $4,033,000 after buying an additional 5,001 shares during the period. Teacher Retirement System of Texas boosted its holdings in Essent Group by 138.9% in the 1st quarter. Teacher Retirement System of Texas now owns 100,228 shares of the financial services provider’s stock valued at $5,785,000 after purchasing an additional 58,271 shares during the period. Finally, Summit Trail Advisors LLC bought a new stake in Essent Group in the 1st quarter valued at $205,000. 93.00% of the stock is owned by institutional investors.

Essent Group Stock Performance

Shares of ESNT stock opened at $57.86 on Thursday. Essent Group Ltd. has a 52-week low of $51.61 and a 52-week high of $65.33. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 8.41 and a beta of 0.82. The firm has a fifty day moving average of $58.16 and a 200-day moving average of $57.32.

Essent Group (NYSE:ESNT) last announced its earnings results on Friday, May 9th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The business had revenue of $317.56 million during the quarter, compared to analysts’ expectations of $311.18 million. Essent Group had a net margin of 57.29% and a return on equity of 12.98%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $1.70 EPS. On average, sell-side analysts predict that Essent Group Ltd. will post 6.88 earnings per share for the current year.

Essent Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 30th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.24 dividend on an annualized basis and a yield of 2.1%. Essent Group’s dividend payout ratio is currently 18.16%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ESNT shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Essent Group in a report on Friday, May 9th. Compass Point set a $69.00 price target on shares of Essent Group and gave the company a “buy” rating in a report on Friday, May 23rd. The Goldman Sachs Group reissued a “neutral” rating on shares of Essent Group in a report on Friday, May 9th. Keefe, Bruyette & Woods downgraded shares of Essent Group from an “outperform” rating to a “market perform” rating and increased their price target for the company from $65.00 to $67.00 in a report on Monday, July 7th. Finally, BTIG Research reissued a “buy” rating on shares of Essent Group in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.67.

Insiders Place Their Bets

In other news, Director Douglas J. Pauls sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $59.80, for a total value of $179,400.00. Following the transaction, the director owned 27,165 shares of the company’s stock, valued at approximately $1,624,467. This trade represents a 9.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mary Lourdes Gibbons sold 1,999 shares of Essent Group stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $60.00, for a total transaction of $119,940.00. Following the transaction, the senior vice president directly owned 251,023 shares in the company, valued at $15,061,380. The trade was a 0.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,740 shares of company stock valued at $581,386 in the last 90 days. 2.90% of the stock is currently owned by insiders.

Essent Group Company 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.