Citigroup Inc. Purchases 45,126 Shares of Essent Group Ltd. (NYSE:ESNT)

Citigroup Inc. grew its position in Essent Group Ltd. (NYSE:ESNT - Free Report) by 81.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,253 shares of the financial services provider's stock after purchasing an additional 45,126 shares during the quarter. Citigroup Inc. owned about 0.09% of Essent Group worth $6,445,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Essent Group by 10.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,680,074 shares of the financial services provider's stock valued at $262,973,000 after purchasing an additional 445,853 shares during the period. Charles Schwab Investment Management Inc. grew its position in Essent Group by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,551,145 shares of the financial services provider's stock worth $99,723,000 after buying an additional 12,431 shares in the last quarter. Jennison Associates LLC increased its stake in Essent Group by 1.4% during the 3rd quarter. Jennison Associates LLC now owns 750,778 shares of the financial services provider's stock worth $48,268,000 after acquiring an additional 10,684 shares during the period. AQR Capital Management LLC increased its stake in Essent Group by 68.8% during the 2nd quarter. AQR Capital Management LLC now owns 436,009 shares of the financial services provider's stock worth $24,499,000 after acquiring an additional 177,700 shares during the period. Finally, Rhumbline Advisers raised its holdings in Essent Group by 1.0% in the 2nd quarter. Rhumbline Advisers now owns 361,028 shares of the financial services provider's stock valued at $20,286,000 after acquiring an additional 3,507 shares in the last quarter. Institutional investors own 93.00% of the company's stock.

Essent Group Price Performance

ESNT stock traded up $0.04 during midday trading on Friday, reaching $57.78. 308,791 shares of the stock were exchanged, compared to its average volume of 894,707. Essent Group Ltd. has a 52 week low of $47.56 and a 52 week high of $65.33. The company has a fifty day moving average price of $60.07 and a 200 day moving average price of $59.53. The stock has a market capitalization of $6.14 billion, a PE ratio of 8.37, a P/E/G ratio of 2.70 and a beta of 1.12.

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

Essent Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Monday, December 2nd. Essent Group's payout ratio is currently 16.23%.

Insider Transactions at Essent Group

In other Essent Group news, CFO David B. Weinstock sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ESNT shares. Barclays dropped their price target on Essent Group from $72.00 to $69.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. Royal Bank of Canada decreased their price objective on shares of Essent Group from $73.00 to $67.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. BTIG Research upped their target price on Essent Group from $61.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Keefe, Bruyette & Woods upgraded Essent Group from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $65.00 to $70.00 in a research note on Monday, August 5th. Finally, The Goldman Sachs Group dropped their price objective on Essent Group from $68.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $65.00.

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.