American International Group Inc. increased its stake in shares of Essent Group Ltd (NYSE:ESNT) by 12.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,890 shares of the financial services provider’s stock after purchasing an additional 5,967 shares during the quarter. American International Group Inc. owned about 0.05% of Essent Group worth $2,183,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Essent Group by 9.1% in the second quarter. Vanguard Group Inc. now owns 7,826,998 shares of the financial services provider’s stock valued at $290,695,000 after acquiring an additional 655,163 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Essent Group by 18.7% in the second quarter. Alliancebernstein L.P. now owns 3,755,887 shares of the financial services provider’s stock valued at $139,494,000 after acquiring an additional 592,824 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Essent Group by 57.7% in the third quarter. Victory Capital Management Inc. now owns 2,351,264 shares of the financial services provider’s stock valued at $95,226,000 after acquiring an additional 860,300 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Essent Group by 3.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,595,288 shares of the financial services provider’s stock valued at $59,249,000 after acquiring an additional 58,836 shares during the last quarter. Finally, Capital World Investors boosted its stake in Essent Group by 25.1% in the second quarter. Capital World Investors now owns 1,419,000 shares of the financial services provider’s stock valued at $52,702,000 after acquiring an additional 285,000 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $38.91, for a total transaction of $77,820.00. Following the sale, the vice president now directly owns 28,785 shares in the company, valued at $1,120,024.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew Turnbull sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the sale, the director now owns 24,596 shares in the company, valued at $1,131,416. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,858 shares of company stock worth $2,491,864. 18.10% of the stock is currently owned by company insiders.
Essent Group Ltd (ESNT) opened at $46.56 on Monday. The firm has a market cap of $4,580.00, a price-to-earnings ratio of 15.57, a PEG ratio of 1.51 and a beta of 1.15. Essent Group Ltd has a 52-week low of $31.33 and a 52-week high of $46.61.
Essent Group (NYSE:ESNT) last issued its quarterly earnings data on Thursday, November 9th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Essent Group had a net margin of 51.64% and a return on equity of 18.55%. The business had revenue of $150.20 million for the quarter, compared to analyst estimates of $143.79 million. During the same period last year, the business posted $0.65 earnings per share. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. equities analysts anticipate that Essent Group Ltd will post 3.08 EPS for the current fiscal year.
A number of brokerages have issued reports on ESNT. ValuEngine cut shares of Essent Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Wells Fargo & Company began coverage on shares of Essent Group in a research note on Tuesday, November 28th. They issued an “outperform” rating and a $52.00 price objective on the stock. Zacks Investment Research raised shares of Essent Group from a “sell” rating to a “hold” rating in a research note on Monday, November 13th. Barclays lifted their price target on shares of Essent Group from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Finally, Deutsche Bank cut shares of Essent Group from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research report on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $45.78.
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About Essent Group
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.
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