Essent Group Ltd. (NYSE:ESNT) Stock Holdings Increased by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in shares of Essent Group Ltd. (NYSE:ESNT) by 884.8% during the 4th quarter, Holdings Channel reports. The fund owned 266,537 shares of the financial services provider’s stock after purchasing an additional 239,473 shares during the period. Intech Investment Management LLC’s holdings in Essent Group were worth $14,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in ESNT. Cozad Asset Management Inc. raised its stake in shares of Essent Group by 1.3% in the 4th quarter. Cozad Asset Management Inc. now owns 25,143 shares of the financial services provider’s stock worth $1,369,000 after buying an additional 311 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of Essent Group in the 4th quarter worth $532,000. NFC Investments LLC raised its stake in shares of Essent Group by 0.3% in the 4th quarter. NFC Investments LLC now owns 56,688 shares of the financial services provider’s stock worth $3,086,000 after buying an additional 175 shares in the last quarter. Corient Private Wealth LLC bought a new stake in shares of Essent Group in the 4th quarter worth $326,000. Finally, Picton Mahoney Asset Management raised its stake in shares of Essent Group by 68.8% in the 4th quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider’s stock worth $32,000 after buying an additional 238 shares in the last quarter. Institutional investors own 93.00% of the company’s stock.

Essent Group Trading Up 0.3 %

Shares of ESNT stock opened at $54.87 on Tuesday. Essent Group Ltd. has a 1-year low of $52.22 and a 1-year high of $65.34. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 2.70 and a beta of 1.09. The stock’s fifty day simple moving average is $56.81 and its 200-day simple moving average is $58.33.

Essent Group (NYSE:ESNT) last issued its earnings results on Friday, February 14th. The financial services provider reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.09). Essent Group had a net margin of 58.69% and a return on equity of 13.35%. The firm had revenue of $315.00 million during the quarter, compared to analysts’ expectations of $313.88 million. During the same quarter last year, the firm earned $1.64 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts predict that Essent Group Ltd. will post 6.88 EPS for the current year.

Essent Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders 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 yield of 2.26%. This is an increase from Essent Group’s previous quarterly dividend of $0.28. Essent Group’s payout ratio is 18.13%.

Wall Street Analysts Forecast Growth

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

About Essent Group

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.