EMG Holdings L.P. Invests $3.64 Million in Essent Group Ltd. (NYSE:ESNT)

EMG Holdings L.P. purchased a new stake in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 66,773 shares of the financial services provider's stock, valued at approximately $3,635,000. Essent Group accounts for approximately 2.2% of EMG Holdings L.P.'s investment portfolio, making the stock its 8th largest holding. EMG Holdings L.P. owned approximately 0.06% of Essent Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Essent Group by 132.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 424,542 shares of the financial services provider's stock valued at $27,294,000 after purchasing an additional 241,840 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Essent Group in the 3rd quarter valued at $511,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Essent Group during the third quarter valued at about $177,000. Paloma Partners Management Co purchased a new position in shares of Essent Group in the third quarter worth approximately $232,000. Finally, Centiva Capital LP purchased a new position in shares of Essent Group in the third quarter worth approximately $548,000. 93.00% of the stock is currently owned by institutional investors.

Essent Group Trading Down 4.0 %

Essent Group stock traded down $2.25 during trading hours on Friday, reaching $54.49. 976,979 shares of the company were exchanged, compared to its average volume of 619,324. Essent Group Ltd. has a 12 month low of $52.22 and a 12 month high of $65.34. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 2.70 and a beta of 0.80. The stock has a 50-day moving average of $56.88 and a 200 day moving average of $57.73.

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Essent Group (NYSE:ESNT - Get Free Report) last issued its quarterly earnings results on Friday, February 14th. The financial services provider reported $1.58 earnings per share 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 company had revenue of $315.00 million during the quarter, compared to the consensus estimate of $313.88 million. During the same period last year, the company earned $1.64 earnings per share. Essent Group's revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts forecast that Essent Group Ltd. will post 6.88 EPS for the current year.

Essent Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 14th were paid a $0.31 dividend. This is a boost from Essent Group's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.28%. Essent Group's dividend payout ratio is currently 18.13%.

Wall Street Analyst Weigh In

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