Essent Group Ltd. (NYSE:ESNT) Shares Sold by Bamco Inc. NY

Bamco Inc. NY lessened its holdings in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) by 96.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,653 shares of the financial services provider's stock after selling 510,539 shares during the quarter. Bamco Inc. NY's holdings in Essent Group were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. UMB Bank n.a. lifted its stake in shares of Essent Group by 726.8% during the 3rd quarter. UMB Bank n.a. now owns 463 shares of the financial services provider's stock valued at $30,000 after buying an additional 407 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Essent Group during the 3rd quarter valued at $32,000. Headlands Technologies LLC bought a new stake in Essent Group in the 2nd quarter valued at $47,000. Quarry LP increased its holdings in Essent Group by 167.1% in the 2nd quarter. Quarry LP now owns 836 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 523 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Essent Group by 49.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,187 shares of the financial services provider's stock valued at $67,000 after acquiring an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 93.00% of the company's stock.

Essent Group Price Performance

Shares of Essent Group stock traded down $0.57 during trading hours on Wednesday, reaching $56.29. The company's stock had a trading volume of 528,236 shares, compared to its average volume of 533,186. Essent Group Ltd. has a one year low of $48.08 and a one year high of $65.33. The firm has a 50 day moving average price of $59.65 and a 200-day moving average price of $59.54. The stock has a market cap of $5.98 billion, a P/E ratio of 8.16, a P/E/G ratio of 2.66 and a beta of 1.09.

Essent Group (NYSE:ESNT - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The financial services provider reported $1.65 EPS for the quarter, missing analysts' consensus estimates of $1.73 by ($0.08). The firm had revenue of $3.17 billion for the quarter, compared to analysts' expectations of $316.80 million. Essent Group had a return on equity of 13.81% and a net margin of 60.15%. Essent Group's revenue for the quarter was up 969.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 earnings per share. As a group, sell-side analysts forecast that Essent Group Ltd. will post 6.95 EPS for the current fiscal year.

Essent Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, December 2nd will be given a $0.28 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.12 annualized dividend and a yield of 1.99%. Essent Group's dividend payout ratio (DPR) is 16.23%.

Analyst Ratings Changes

A number of analysts have issued reports on ESNT shares. The Goldman Sachs Group reduced their price target on shares of Essent Group from $68.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, November 5th. Royal Bank of Canada reduced their price target on shares of Essent Group from $73.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. Barclays reduced their price target on shares of Essent Group from $72.00 to $69.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Essent Group from $68.00 to $67.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $65.00.

Insider Buying and Selling at Essent Group

In other news, CFO David B. Weinstock sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total value of $127,180.00. Following the completion of the sale, the chief financial officer now owns 25,416 shares of the company's stock, valued at approximately $1,616,203.44. This represents a 7.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.90% of the stock is owned by corporate insiders.

About Essent Group

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.