BayBridge Capital Group LLC Lowers Position in Essent Group Ltd. (NYSE:ESNT)

BayBridge Capital Group LLC lowered its stake in shares of Essent Group Ltd. (NYSE:ESNT) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,413 shares of the financial services provider’s stock after selling 664 shares during the period. BayBridge Capital Group LLC’s holdings in Essent Group were worth $404,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in shares of Essent Group by 726.8% during the 3rd quarter. UMB Bank n.a. now owns 463 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 407 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Essent Group during the third quarter worth approximately $32,000. R Squared Ltd acquired a new stake in shares of Essent Group in the fourth quarter worth $63,000. Advisors Asset Management Inc. increased its position in shares of Essent Group by 53.9% in the third quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 477 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Essent Group by 51.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,803 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 616 shares during the period. Institutional investors and hedge funds own 93.00% of the company’s stock.

Essent Group Stock Down 0.9 %

Shares of NYSE ESNT opened at $58.52 on Friday. The business has a 50 day moving average price of $56.02 and a two-hundred day moving average price of $59.26. Essent Group Ltd. has a fifty-two week low of $50.65 and a fifty-two week high of $65.33. The firm has a market cap of $6.22 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 2.72 and a beta of 1.11.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ESNT shares. Barclays downgraded Essent Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $69.00 to $58.00 in a report on Monday, January 6th. The Goldman Sachs Group lowered their target price on Essent Group from $68.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Royal Bank of Canada dropped their target price on Essent Group from $73.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Keefe, Bruyette & Woods decreased their price target on Essent Group from $75.00 to $72.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Essent Group presently has a consensus rating of “Hold” and a consensus target price of $62.71.

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.