Essent Group Ltd. (NYSE:ESNT) Shares Sold by Summit Global Investments

Summit Global Investments lessened its holdings in shares of Essent Group Ltd. (NYSE:ESNT) by 14.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,926 shares of the financial services provider’s stock after selling 3,471 shares during the period. Summit Global Investments’ holdings in Essent Group were worth $1,085,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mainstream Capital Management LLC acquired a new stake in Essent Group in the fourth quarter valued at $25,000. Picton Mahoney Asset Management grew its holdings in Essent Group by 68.8% in the fourth quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 238 shares during the last quarter. US Bancorp DE grew its holdings in Essent Group by 53.3% in the fourth quarter. US Bancorp DE now owns 1,125 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 391 shares during the last quarter. R Squared Ltd acquired a new stake in Essent Group in the fourth quarter valued at $63,000. Finally, Advisors Asset Management Inc. lifted 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 valued at $88,000 after acquiring an additional 477 shares in the last quarter. Institutional investors and hedge funds own 93.00% of the company’s stock.

Essent Group Price Performance

Shares of NYSE:ESNT opened at $55.51 on Friday. The firm has a market capitalization of $5.76 billion, a PE ratio of 8.12, a P/E/G ratio of 2.70 and a beta of 1.09. The business has a 50-day moving average of $56.88 and a two-hundred day moving average of $58.13. Essent Group Ltd. has a 12 month low of $52.22 and a 12 month high of $65.34.

Essent Group (NYSE:ESNT) last announced its quarterly earnings results on Friday, February 14th. The financial services provider reported $1.58 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.09). Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The firm had revenue of $315.00 million for the quarter, compared to analyst estimates of $313.88 million. During the same quarter in the prior year, the company earned $1.64 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that Essent Group Ltd. will post 6.88 earnings per share for the current year.

Essent Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 14th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.23%. This is a positive change from Essent Group’s previous quarterly dividend of $0.28. Essent Group’s dividend payout ratio (DPR) is 18.13%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Keefe, Bruyette & Woods reduced their price objective on Essent Group from $72.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 18th. Barclays downgraded Essent Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $69.00 to $58.00 in a research report on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $67.00 target price on shares of Essent Group in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $62.57.

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.