Nordea Investment Management AB Boosts Position in Essent Group Ltd (ESNT)

Nordea Investment Management AB increased its stake in shares of Essent Group Ltd (NYSE:ESNT) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,389 shares of the financial services provider’s stock after purchasing an additional 2,228 shares during the quarter. Nordea Investment Management AB owned approximately 0.06% of Essent Group worth $2,203,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of ESNT. Vanguard Group Inc. lifted its stake in Essent Group by 9.1% in the second quarter. Vanguard Group Inc. now owns 7,826,998 shares of the financial services provider’s stock valued at $290,695,000 after acquiring an additional 655,163 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Essent Group by 18.7% in the second quarter. Alliancebernstein L.P. now owns 3,755,887 shares of the financial services provider’s stock valued at $139,494,000 after acquiring an additional 592,824 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Essent Group by 57.7% in the third quarter. Victory Capital Management Inc. now owns 2,351,264 shares of the financial services provider’s stock valued at $95,226,000 after acquiring an additional 860,300 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Essent Group by 3.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,595,288 shares of the financial services provider’s stock valued at $59,249,000 after acquiring an additional 58,836 shares during the last quarter. Finally, Capital World Investors lifted its stake in Essent Group by 25.1% in the second quarter. Capital World Investors now owns 1,419,000 shares of the financial services provider’s stock valued at $52,702,000 after acquiring an additional 285,000 shares during the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.

A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Friday, September 8th. Deutsche Bank boosted their price objective on shares of Essent Group from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. BidaskClub upgraded shares of Essent Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. Wells Fargo & Company assumed coverage on shares of Essent Group in a research note on Tuesday, November 28th. They issued an “outperform” rating and a $52.00 price objective for the company. Finally, Keefe, Bruyette & Woods upgraded shares of Essent Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $43.00 to $44.00 in a research note on Wednesday, August 23rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Essent Group presently has an average rating of “Buy” and a consensus price target of $45.78.

Shares of Essent Group Ltd (NYSE ESNT) traded up $0.01 during mid-day trading on Thursday, reaching $45.55. 492,200 shares of the company were exchanged, compared to its average volume of 690,191. Essent Group Ltd has a fifty-two week low of $31.33 and a fifty-two week high of $46.15. The company has a market capitalization of $4,482.69, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.48 and a beta of 1.15.

Essent Group (NYSE:ESNT) last announced its earnings results on Thursday, November 9th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.07. Essent Group had a net margin of 51.64% and a return on equity of 18.55%. The business had revenue of $150.20 million for the quarter, compared to analyst estimates of $143.79 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. Essent Group’s revenue was up 23.9% compared to the same quarter last year. analysts expect that Essent Group Ltd will post 3.08 EPS for the current fiscal year.

In other Essent Group news, Director Andrew Turnbull sold 15,813 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $45.62, for a total value of $721,389.06. Following the sale, the director now owns 45,409 shares of the company’s stock, valued at approximately $2,071,558.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP David B. Weinstock sold 2,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $38.91, for a total transaction of $77,820.00. Following the completion of the sale, the vice president now directly owns 28,785 shares in the company, valued at approximately $1,120,024.35. The disclosure for this sale can be found here. Insiders have sold 50,858 shares of company stock worth $2,261,864 in the last ninety days. 18.10% of the stock is currently owned by insiders.

COPYRIGHT VIOLATION WARNING: “Nordea Investment Management AB Boosts Position in Essent Group Ltd (ESNT)” was reported by Stock Observer and is the property of of Stock Observer. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://www.thestockobserver.com/2017/12/07/nordea-investment-management-ab-boosts-position-in-essent-group-ltd-esnt.html.

Essent Group Company Profile

Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance.

Want to see what other hedge funds are holding ESNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essent Group Ltd (NYSE:ESNT).

Institutional Ownership by Quarter for Essent Group (NYSE:ESNT)

Receive News & Ratings for Essent Group Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essent Group Ltd and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply