Allspring Global Investments Holdings LLC Decreases Stake in Essent Group Ltd. $ESNT

Allspring Global Investments Holdings LLC reduced its holdings in shares of Essent Group Ltd. (NYSE:ESNT) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 349,689 shares of the financial services provider’s stock after selling 51,496 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.36% of Essent Group worth $22,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Sivia Capital Partners LLC purchased a new position in shares of Essent Group during the second quarter valued at approximately $346,000. Prudential Financial Inc. boosted its holdings in Essent Group by 45.3% in the second quarter. Prudential Financial Inc. now owns 13,978 shares of the financial services provider’s stock worth $849,000 after purchasing an additional 4,360 shares during the last quarter. Advisors Asset Management Inc. grew its position in Essent Group by 12.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,552 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 284 shares during the period. Norges Bank bought a new stake in Essent Group in the 2nd quarter worth approximately $75,596,000. Finally, M&T Bank Corp purchased a new position in Essent Group in the second quarter worth about $239,000. 93.00% of the stock is owned by hedge funds and other institutional investors.

Essent Group Stock Down 0.1%

Shares of NYSE ESNT opened at $59.08 on Friday. The stock’s fifty day simple moving average is $60.49 and its two-hundred day simple moving average is $61.77. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.09. Essent Group Ltd. has a 12-month low of $51.61 and a 12-month high of $67.09. The stock has a market capitalization of $5.55 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 2.17 and a beta of 0.87.

Essent Group (NYSE:ESNT) last announced its earnings results on Saturday, February 14th. The financial services provider reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.14). The business had revenue of $312.40 million for the quarter, compared to analysts’ expectations of $312.62 million. Essent Group had a return on equity of 12.09% and a net margin of 54.72%.The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 earnings per share. As a group, analysts expect that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.

Essent Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, March 13th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, March 13th. This is a boost from Essent Group’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a yield of 2.4%. Essent Group’s dividend payout ratio is presently 20.32%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ESNT. UBS Group decreased their target price on Essent Group from $65.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. The Goldman Sachs Group reiterated a “neutral” rating and set a $70.00 price objective on shares of Essent Group in a research report on Tuesday, January 6th. JPMorgan Chase & Co. boosted their target price on shares of Essent Group from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Keefe, Bruyette & Woods upped their target price on shares of Essent Group from $71.00 to $73.00 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. Finally, Barclays cut their target price on shares of Essent Group from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 17th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $68.43.

About Essent Group

Essent Group Ltd. (NYSE: ESNT) is a publicly traded insurance holding company specializing in private mortgage insurance and mortgage reinsurance solutions. Through its primary subsidiary, Essent Guaranty, the company provides credit protection to mortgage lenders, helping mitigate the risk of borrower default on residential mortgage loans. Essent’s insurance policies enable lenders to offer low-down-payment programs, supporting homebuyers in achieving homeownership with reduced upfront equity requirements.

Beyond traditional mortgage insurance, Essent offers a suite of risk management and analytics services designed to help financial institutions monitor and manage mortgage portfolios.