Man Group plc trimmed its position in shares of Essent Group Ltd (NYSE:ESNT) by 3.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,470,630 shares of the financial services provider’s stock after selling 50,423 shares during the period. Man Group plc’s holdings in Essent Group were worth $69,105,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its position in Essent Group by 1.7% during the 2nd quarter. BlackRock Inc. now owns 7,962,417 shares of the financial services provider’s stock valued at $374,154,000 after acquiring an additional 133,818 shares in the last quarter. APG Asset Management N.V. boosted its holdings in Essent Group by 14.8% in the 2nd quarter. APG Asset Management N.V. now owns 2,255,200 shares of the financial services provider’s stock worth $93,056,000 after buying an additional 290,700 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Essent Group by 36.4% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,465,102 shares of the financial services provider’s stock worth $63,659,000 after buying an additional 391,050 shares during the period. Geode Capital Management LLC boosted its holdings in Essent Group by 8.5% in the 4th quarter. Geode Capital Management LLC now owns 1,343,164 shares of the financial services provider’s stock worth $45,909,000 after buying an additional 104,923 shares during the period. Finally, Northern Trust Corp boosted its holdings in Essent Group by 1.5% in the 2nd quarter. Northern Trust Corp now owns 1,308,924 shares of the financial services provider’s stock worth $61,507,000 after buying an additional 19,833 shares during the period. 91.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of ESNT traded up $0.80 during midday trading on Thursday, hitting $49.45. 35,523 shares of the company traded hands, compared to its average volume of 462,505. The firm has a 50 day moving average of $47.48 and a 200-day moving average of $46.78. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.89 and a beta of 1.23. Essent Group Ltd has a 52 week low of $31.08 and a 52 week high of $50.51.
Essent Group (NYSE:ESNT) last announced its earnings results on Friday, August 2nd. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.09. The firm had revenue of $211.89 million for the quarter. Essent Group had a net margin of 64.34% and a return on equity of 21.05%. On average, equities analysts anticipate that Essent Group Ltd will post 5.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Tuesday, September 3rd. Essent Group’s dividend payout ratio is 12.37%.
In related news, CAO David B. Weinstock sold 2,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $47.01, for a total value of $94,020.00. Following the sale, the chief accounting officer now directly owns 24,118 shares of the company’s stock, valued at approximately $1,133,787.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Hissong sold 19,886 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $48.34, for a total transaction of $961,289.24. Following the completion of the sale, the insider now directly owns 57,519 shares in the company, valued at $2,780,468.46. The disclosure for this sale can be found here. Insiders have sold a total of 25,886 shares of company stock worth $1,247,649 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.
Several research analysts recently weighed in on ESNT shares. Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Wednesday, August 7th. BTIG Research reissued a “buy” rating and set a $54.00 price objective on shares of Essent Group in a report on Sunday, August 4th. Finally, ValuEngine downgraded shares of Essent Group from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.50.
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. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.
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