Quantbot Technologies LP Makes New Investment in Essent Group Ltd. (NYSE:ESNT)

Quantbot Technologies LP purchased a new position in Essent Group Ltd. (NYSE:ESNT - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 14,350 shares of the financial services provider's stock, valued at approximately $781,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mainstream Capital Management LLC bought a new position in Essent Group in the fourth quarter valued at about $25,000. Picton Mahoney Asset Management raised its holdings in shares of Essent Group by 68.8% in the fourth 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 last quarter. US Bancorp DE lifted its position in shares of Essent Group by 53.3% in the fourth 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 acquired a new stake in shares of Essent Group in the fourth quarter valued at about $63,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Essent Group by 53.9% in the third quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider's stock valued at $88,000 after buying an additional 477 shares in the last quarter. 93.00% of the stock is currently owned by institutional investors and hedge funds.

Essent Group Trading Down 2.0 %

Shares of ESNT stock traded down $1.17 during trading hours on Friday, reaching $57.34. The stock had a trading volume of 590,769 shares, compared to its average volume of 613,748. The firm has a market capitalization of $5.95 billion, a PE ratio of 8.38, a PEG ratio of 2.70 and a beta of 1.09. The stock's fifty day simple moving average is $56.93 and its 200 day simple moving average is $57.91. Essent Group Ltd. has a 12 month low of $52.22 and a 12 month high of $65.34.

Remove Ads

Essent Group (NYSE:ESNT - Get Free Report) last released its quarterly earnings data on Friday, February 14th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.67 by ($0.09). Essent Group had a net margin of 58.69% and a return on equity of 13.35%. The firm had revenue of $315.00 million during the quarter, compared to analysts' expectations of $313.88 million. During the same quarter in the previous year, the firm posted $1.64 EPS. Essent Group's revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.

Essent Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 14th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.16%. This is a boost from Essent Group's previous quarterly dividend of $0.28. The ex-dividend date was Friday, March 14th. Essent Group's dividend payout ratio (DPR) is currently 18.13%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ESNT. Keefe, Bruyette & Woods reduced their price target on Essent Group from $72.00 to $71.00 and set an "outperform" rating for the company in a report on Tuesday, February 18th. Barclays downgraded shares of Essent Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $69.00 to $58.00 in a report on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective on Essent Group from $67.00 to $60.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $67.00 price target on shares of Essent Group in a research note on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $62.57.

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.