Essent Group Ltd. (ESNT) Position Decreased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its stake in Essent Group Ltd. (NYSE:ESNT) by 23.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,195,529 shares of the financial services provider’s stock after selling 372,431 shares during the period. Lord Abbett & CO. LLC owned 1.28% of Essent Group worth $44,402,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Koch Industries Inc. bought a new position in shares of Essent Group in the 2nd quarter valued at approximately $395,000. Piedmont Investment Advisors LLC bought a new position in shares of Essent Group in the 2nd quarter valued at approximately $906,000. Sterling Capital Management LLC raised its stake in shares of Essent Group by 8.6% in the 2nd quarter. Sterling Capital Management LLC now owns 27,191 shares of the financial services provider’s stock valued at $1,010,000 after acquiring an additional 2,147 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Essent Group by 5.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,781 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 330 shares in the last quarter. Finally, Albion Financial Group UT raised its stake in shares of Essent Group by 0.9% in the 2nd quarter. Albion Financial Group UT now owns 15,704 shares of the financial services provider’s stock valued at $583,000 after acquiring an additional 145 shares in the last quarter. 81.40% of the stock is currently owned by institutional investors and hedge funds.

Essent Group Ltd. (NYSE:ESNT) traded up 1.2871% during mid-day trading on Friday, hitting $45.0525. The stock had a trading volume of 127,163 shares. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 16.0329 and a beta of 1.14. The stock’s 50 day moving average price is $39.80 and its 200 day moving average price is $38.05. Essent Group Ltd. has a one year low of $25.84 and a one year high of $45.08.

Essent Group (NYSE:ESNT) last announced its earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.09. The company had revenue of $137.61 million for the quarter, compared to analyst estimates of $131.99 million. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 earnings per share. Analysts forecast that Essent Group Ltd. will post $3.04 EPS for the current year.

Several research analysts have commented on the company. Zacks Investment Research raised Essent Group from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Friday, September 8th. BidaskClub downgraded Essent Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods set a $43.00 price target on Essent Group and gave the stock a “hold” rating in a research report on Monday, August 7th. Finally, Barclays PLC lifted their price target on Essent Group from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Essent Group presently has a consensus rating of “Buy” and a consensus price target of $44.75.

In other news, SVP Mary Lourdes Gibbons sold 4,836 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $42.04, for a total transaction of $203,305.44. Following the transaction, the senior vice president now owns 258,066 shares in the company, valued at $10,849,094.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David B. Weinstock sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $38.91, for a total value of $77,820.00. Following the transaction, the vice president now owns 28,785 shares in the company, valued at approximately $1,120,024.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,154 shares of company stock worth $981,705. 18.10% of the stock is owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: “Essent Group Ltd. (ESNT) Position Decreased by Lord Abbett & CO. LLC” was

Several other hedge funds also recently modified their holdings of the stock. Koch Industries Inc. bought a new position in shares of Essent Group in the 2nd quarter valued at approximately $395,000. Piedmont Investment Advisors LLC bought a new position in shares of Essent Group in the 2nd quarter valued at approximately $906,000. Sterling Capital Management LLC raised its stake in shares of Essent Group by 8.6% in the 2nd quarter. Sterling Capital Management LLC now owns 27,191 shares of the financial services provider’s stock valued at $1,010,000 after acquiring an additional 2,147 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Essent Group by 5.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,781 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 330 shares in the last quarter. Finally, Albion Financial Group UT raised its stake in shares of Essent Group by 0.9% in the 2nd quarter. Albion Financial Group UT now owns 15,704 shares of the financial services provider’s stock valued at $583,000 after acquiring an additional 145 shares in the last quarter. 81.40% of the stock is currently owned by institutional investors and hedge funds.

Essent Group Ltd. (NYSE:ESNT) traded up 1.2871% during mid-day trading on Friday, hitting $45.0525. The stock had a trading volume of 127,163 shares. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 16.0329 and a beta of 1.14. The stock’s 50 day moving average price is $39.80 and its 200 day moving average price is $38.05. Essent Group Ltd. has a one year low of $25.84 and a one year high of $45.08.

Essent Group (NYSE:ESNT) last announced its earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.09. The company had revenue of $137.61 million for the quarter, compared to analyst estimates of $131.99 million. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 earnings per share. Analysts forecast that Essent Group Ltd. will post $3.04 EPS for the current year.

Several research analysts have commented on the company. Zacks Investment Research raised Essent Group from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Friday, September 8th. BidaskClub downgraded Essent Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods set a $43.00 price target on Essent Group and gave the stock a “hold” rating in a research report on Monday, August 7th. Finally, Barclays PLC lifted their price target on Essent Group from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Essent Group presently has a consensus rating of “Buy” and a consensus price target of $44.75.

In other news, SVP Mary Lourdes Gibbons sold 4,836 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $42.04, for a total transaction of $203,305.44. Following the transaction, the senior vice president now owns 258,066 shares in the company, valued at $10,849,094.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David B. Weinstock sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $38.91, for a total value of $77,820.00. Following the transaction, the vice president now owns 28,785 shares in the company, valued at approximately $1,120,024.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,154 shares of company stock worth $981,705. 18.10% of the stock is owned by corporate insiders.

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Essent Group 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.

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

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