Renaissance Group LLC Sells 4,794 Shares of Essent Group Ltd. $ESNT

Renaissance Group LLC cut its holdings in Essent Group Ltd. (NYSE:ESNT) by 12.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,590 shares of the financial services provider’s stock after selling 4,794 shares during the period. Renaissance Group LLC’s holdings in Essent Group were worth $2,040,000 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 stock. GSA Capital Partners LLP purchased a new stake in shares of Essent Group in the first quarter valued at $993,000. Bayforest Capital Ltd raised its holdings in shares of Essent Group by 280.5% in the first quarter. Bayforest Capital Ltd now owns 10,328 shares of the financial services provider’s stock worth $596,000 after buying an additional 7,614 shares during the period. Jane Street Group LLC grew its position in Essent Group by 760.5% in the 1st quarter. Jane Street Group LLC now owns 367,460 shares of the financial services provider’s stock valued at $21,210,000 after acquiring an additional 324,757 shares during the last quarter. Intech Investment Management LLC grew its position in Essent Group by 2.0% in the 1st quarter. Intech Investment Management LLC now owns 271,788 shares of the financial services provider’s stock valued at $15,688,000 after acquiring an additional 5,251 shares during the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in Essent Group in the second quarter worth $314,000. 93.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ESNT has been the subject of several research reports. Barclays boosted their price objective on shares of Essent Group from $59.00 to $66.00 and gave the company a “cautious” rating in a research report on Monday, October 6th. The Goldman Sachs Group set a $60.00 price objective on shares of Essent Group and gave the company a “neutral” rating in a research note on Friday, August 8th. JPMorgan Chase & Co. cut Essent Group from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $66.00 to $65.00 in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Essent Group in a report on Thursday, November 13th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Essent Group in a research report on Friday, August 8th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $65.67.

Insider Buying and Selling at Essent Group

In related news, SVP Mary Lourdes Gibbons sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $65.00, for a total transaction of $260,000.00. Following the completion of the sale, the senior vice president directly owned 243,023 shares of the company’s stock, valued at approximately $15,796,495. This represents a 1.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Vijay Bhasin sold 11,479 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $65.00, for a total transaction of $746,135.00. Following the completion of the transaction, the senior vice president owned 196,922 shares of the company’s stock, valued at $12,799,930. This trade represents a 5.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 17,979 shares of company stock valued at $1,164,460. 2.90% of the stock is currently owned by insiders.

Essent Group Stock Performance

Shares of NYSE ESNT opened at $61.08 on Thursday. The business’s 50-day moving average price is $61.59 and its two-hundred day moving average price is $60.16. Essent Group Ltd. has a one year low of $51.61 and a one year high of $65.90. The company has a market capitalization of $5.90 billion, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 4.05 and a beta of 0.91. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.68 and a quick ratio of 1.68.

Essent Group (NYSE:ESNT) last released its earnings results on Friday, November 7th. The financial services provider reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.08). Essent Group had a net margin of 55.63% and a return on equity of 12.40%. The company had revenue of $298.41 million during the quarter, compared to the consensus estimate of $316.84 million. During the same quarter in the previous year, the business posted $1.65 EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts anticipate that Essent Group Ltd. will post 6.88 earnings per share for the current fiscal year.

Essent Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, December 1st will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, December 1st. Essent Group’s dividend payout ratio is currently 18.05%.

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.