Canada Pension Plan Investment Board Makes New $4.03 Million Investment in Essent Group Ltd. (NYSE:ESNT)

Canada Pension Plan Investment Board bought a new position in Essent Group Ltd. (NYSE:ESNT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 74,000 shares of the financial services provider's stock, valued at approximately $4,029,000. Canada Pension Plan Investment Board owned about 0.07% of Essent Group at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ESNT. Mainstream Capital Management LLC bought a new stake in Essent Group during the 4th quarter worth about $25,000. Picton Mahoney Asset Management grew its position in shares of Essent Group by 68.8% during the 4th quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider's stock worth $32,000 after buying an additional 238 shares during the period. US Bancorp DE raised its stake in shares of Essent Group by 53.3% during the fourth quarter. US Bancorp DE now owns 1,125 shares of the financial services provider's stock worth $61,000 after buying an additional 391 shares during the last quarter. R Squared Ltd acquired a new position in Essent Group in the fourth quarter valued at approximately $63,000. Finally, Parkside Financial Bank & Trust boosted its stake in Essent Group by 8.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,363 shares of the financial services provider's stock valued at $129,000 after acquiring an additional 180 shares during the last quarter. 93.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $67.00 price target on shares of Essent Group in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods decreased their target price on Essent Group from $71.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. upgraded shares of Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price target on the stock in a research report on Tuesday, April 8th. Finally, Barclays lowered shares of Essent Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $69.00 to $58.00 in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $61.71.

Essent Group Stock Performance

NYSE ESNT opened at $55.41 on Wednesday. Essent Group Ltd. has a 52-week low of $51.61 and a 52-week high of $65.34. The business has a 50 day simple moving average of $55.83 and a 200 day simple moving average of $56.87. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 2.70 and a beta of 0.80.

Essent Group (NYSE:ESNT - Get Free Report) last issued its quarterly earnings data on Friday, February 14th. The financial services provider reported $1.58 EPS for the quarter, missing analysts' consensus estimates of $1.67 by ($0.09). The company had revenue of $315.00 million for the quarter, compared to analyst estimates of $313.88 million. Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The company's revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 earnings per share. On average, analysts predict that Essent Group Ltd. will post 6.88 EPS for the current year.

Essent Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 14th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Essent Group's previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.24%. Essent Group's dividend payout ratio (DPR) is presently 18.13%.

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.

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