Essent Group Ltd. (NYSE:ESNT) Shares Sold by Bayview Asset Management LLC

Bayview Asset Management LLC trimmed its holdings in shares of Essent Group Ltd. (NYSE:ESNT) by 29.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,300 shares of the financial services provider’s stock after selling 5,200 shares during the period. Essent Group comprises approximately 0.5% of Bayview Asset Management LLC’s investment portfolio, making the stock its 13th biggest position. Bayview Asset Management LLC’s holdings in Essent Group were worth $670,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC acquired a new position in shares of Essent Group in the 4th quarter worth $25,000. Picton Mahoney Asset Management boosted its position 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 valued at $32,000 after purchasing an additional 238 shares during the period. US Bancorp DE increased its stake in Essent Group by 53.3% in the 4th quarter. US Bancorp DE now owns 1,125 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 391 shares in the last quarter. R Squared Ltd purchased a new position in Essent Group in the 4th quarter worth about $63,000. Finally, Parkside Financial Bank & Trust raised its holdings in Essent Group by 8.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,363 shares of the financial services provider’s stock worth $129,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 93.00% of the company’s stock.

Essent Group Stock Up 2.7 %

Shares of NYSE:ESNT opened at $58.56 on Friday. The firm has a fifty day moving average of $55.86 and a two-hundred day moving average of $56.49. Essent Group Ltd. has a 12-month low of $51.61 and a 12-month high of $65.34. The firm has a market capitalization of $6.08 billion, a P/E ratio of 8.56, a price-to-earnings-growth ratio of 2.70 and a beta of 0.87.

Essent Group (NYSE:ESNT) last announced its quarterly earnings data on Friday, February 14th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.09). Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The firm had revenue of $315.00 million for the quarter, compared to analysts’ expectations of $313.88 million. During the same quarter in the prior year, the business posted $1.64 earnings per share. Essent Group’s revenue was up 6.0% on a year-over-year basis. Equities research analysts expect that Essent Group Ltd. will post 6.88 earnings per share for the current fiscal year.

Essent Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 14th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 2.12%. This is an increase from Essent Group’s previous quarterly dividend of $0.28. Essent Group’s dividend payout ratio is currently 18.13%.

Wall Street Analyst Weigh In

Several brokerages have commented on ESNT. Barclays cut shares of 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. JPMorgan Chase & Co. raised shares of Essent Group from a “neutral” rating to an “overweight” rating and set a $60.00 price objective for the company in a research note on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating and set a $67.00 target price on shares of Essent Group in a research note on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods reduced their target price on Essent Group from $71.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.71.

Essent Group 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.