CWA Asset Management Group LLC Takes $709,000 Position in Essent Group Ltd. (NYSE:ESNT)

CWA Asset Management Group LLC acquired a new position in Essent Group Ltd. (NYSE:ESNT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,021 shares of the financial services provider's stock, valued at approximately $709,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp raised its position in shares of Essent Group by 40.0% during the third quarter. Van ECK Associates Corp now owns 65,087 shares of the financial services provider's stock worth $4,022,000 after purchasing an additional 18,597 shares during the period. Harbor Capital Advisors Inc. bought a new position in Essent Group during the third quarter valued at about $32,000. State of Alaska Department of Revenue lifted its holdings in Essent Group by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 12,366 shares of the financial services provider's stock worth $795,000 after purchasing an additional 835 shares in the last quarter. BayBridge Capital Group LLC boosted its holdings in Essent Group by 5.7% in the 3rd quarter. BayBridge Capital Group LLC now owns 8,077 shares of the financial services provider's stock valued at $519,000 after purchasing an additional 434 shares during the period. Finally, Vest Financial LLC raised its holdings in shares of Essent Group by 20.6% in the 3rd quarter. Vest Financial LLC now owns 23,458 shares of the financial services provider's stock valued at $1,508,000 after acquiring an additional 4,010 shares in the last quarter. 93.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO David B. Weinstock sold 2,000 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now owns 25,416 shares of the company's stock, valued at $1,616,203.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.90% of the stock is owned by insiders.

Essent Group Stock Performance

NYSE ESNT traded up $0.74 during trading on Monday, hitting $56.01. The stock had a trading volume of 834,381 shares, compared to its average volume of 517,615. The stock has a 50 day simple moving average of $62.08 and a 200 day simple moving average of $59.39. Essent Group Ltd. has a one year low of $47.56 and a one year high of $65.33. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 8.01, a P/E/G ratio of 1.83 and a beta of 1.12.

Essent Group (NYSE:ESNT - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The financial services provider reported $1.65 EPS 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 analysts' expectations of $316.80 million. Essent Group had a net margin of 60.15% and a return on equity of 13.81%. The business's quarterly revenue was up 969.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.66 EPS. On average, sell-side analysts predict that Essent Group Ltd. will post 6.93 EPS for the current year.

Essent Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, December 2nd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, December 2nd. Essent Group's dividend payout ratio (DPR) is presently 16.23%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ESNT shares. JPMorgan Chase & Co. decreased their price objective on shares of Essent Group from $68.00 to $67.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. Barclays decreased their price objective on Essent Group from $72.00 to $69.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Royal Bank of Canada dropped their target price on Essent Group from $73.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. BTIG Research increased their price target on shares of Essent Group from $61.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group lowered their price objective on shares of Essent Group from $68.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $65.00.

Essent Group Company 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.