Essent Group Ltd. (NYSE:ESNT) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp grew its holdings in shares of Essent Group Ltd. (NYSE:ESNT) by 119.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,421 shares of the financial services provider’s stock after purchasing an additional 774 shares during the period. Van ECK Associates Corp’s holdings in Essent Group were worth $64,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio grew its holdings in shares of Essent Group by 14.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 2,087 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 267 shares during the period. Captrust Financial Advisors grew its holdings in shares of Essent Group by 671.9% in the 1st quarter. Captrust Financial Advisors now owns 2,447 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 2,130 shares during the period. World Asset Management Inc acquired a new stake in shares of Essent Group in the 1st quarter worth approximately $215,000. The PNC Financial Services Group Inc. grew its holdings in shares of Essent Group by 8.5% in the 1st quarter. The PNC Financial Services Group Inc. now owns 4,806 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 377 shares during the period. Finally, Alpine Woods Capital Investors LLC acquired a new stake in shares of Essent Group in the 1st quarter worth approximately $237,000. Institutional investors own 93.28% of the company’s stock.

In related news, CAO David B. Weinstock sold 2,000 shares of the stock in a transaction on Friday, August 6th. The stock was sold at an average price of $47.50, for a total value of $95,000.00. Following the transaction, the chief accounting officer now directly owns 23,811 shares of the company’s stock, valued at approximately $1,131,022.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Lawrence E. Mcalee, Jr. sold 5,595 shares of the stock in a transaction on Friday, August 13th. The stock was sold at an average price of $47.38, for a total value of $265,091.10. Following the completion of the transaction, the chief financial officer now directly owns 185,977 shares in the company, valued at $8,811,590.26. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

A number of research firms recently weighed in on ESNT. Royal Bank of Canada upped their price target on Essent Group from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, June 7th. Zacks Investment Research lowered Essent Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $55.33.

Shares of Essent Group stock opened at $44.42 on Friday. Essent Group Ltd. has a fifty-two week low of $34.82 and a fifty-two week high of $54.22. The firm has a market cap of $4.97 billion, a PE ratio of 9.18, a P/E/G ratio of 0.82 and a beta of 1.33. The business’s fifty day moving average is $45.69 and its two-hundred day moving average is $46.71.

Essent Group (NYSE:ESNT) last issued its quarterly earnings results on Friday, August 6th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.16. Essent Group had a return on equity of 13.93% and a net margin of 55.56%. The company had revenue of $243.26 million for the quarter, compared to analyst estimates of $239.39 million. During the same quarter in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts forecast that Essent Group Ltd. will post 5.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Wednesday, September 1st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, August 31st. This is a positive change from Essent Group’s previous quarterly dividend of $0.17. Essent Group’s dividend payout ratio is currently 18.56%.

About Essent Group

Essent Group Ltd. is a holding company, which engages in the provision of banking services. It offers mortgage insurance, reinsurance, and risk management products. The company was founded by Mark A. Casale on July 1, 2008 and is headquartered in Hamilton, Bermuda.

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

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