Essent Group Ltd. (NYSE:ESNT) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in shares of Essent Group Ltd. (NYSE:ESNT) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,066 shares of the financial services provider’s stock after selling 2,594 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Essent Group worth $8,298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Essent Group by 4.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,332 shares of the financial services provider’s stock worth $1,311,000 after acquiring an additional 1,088 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of Essent Group in the second quarter valued at approximately $3,721,000. Peregrine Capital Management LLC increased its holdings in shares of Essent Group by 1.3% in the second quarter. Peregrine Capital Management LLC now owns 208,772 shares of the financial services provider’s stock valued at $11,731,000 after purchasing an additional 2,668 shares during the last quarter. Van ECK Associates Corp lifted its position in Essent Group by 17.4% during the second quarter. Van ECK Associates Corp now owns 46,490 shares of the financial services provider’s stock worth $2,612,000 after buying an additional 6,887 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in Essent Group by 11.3% during the second quarter. Natixis Advisors LLC now owns 11,174 shares of the financial services provider’s stock worth $628,000 after buying an additional 1,138 shares during the last quarter. Institutional investors and hedge funds own 93.00% of the company’s stock.

Essent Group Stock Performance

NYSE:ESNT opened at $54.61 on Wednesday. Essent Group Ltd. has a fifty-two week low of $50.65 and a fifty-two week high of $65.33. The company has a 50 day moving average price of $58.18 and a 200 day moving average price of $59.52. The stock has a market capitalization of $5.80 billion, a P/E ratio of 7.91, a PEG ratio of 2.60 and a beta of 1.09.

Essent Group (NYSE:ESNT) last released its quarterly earnings results on Friday, November 1st. The financial services provider reported $1.65 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.08). Essent Group had a return on equity of 13.81% and a net margin of 60.15%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $316.80 million. During the same quarter in the prior year, the business earned $1.66 earnings per share. The company’s quarterly revenue was up 969.2% on a year-over-year basis. Research analysts forecast that Essent Group Ltd. will post 6.94 earnings per share for the current fiscal year.

Essent Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, December 2nd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 2.05%. Essent Group’s dividend payout ratio is presently 16.23%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Essent Group from $67.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Royal Bank of Canada reduced their target price on shares of Essent Group from $73.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Keefe, Bruyette & Woods increased their price target on shares of Essent Group from $73.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Barclays reduced their price target on shares of Essent Group from $72.00 to $69.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, The Goldman Sachs Group lowered their price objective on Essent Group from $68.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.71.

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.