Entropy Technologies LP lessened its stake in Essent Group Ltd. (NYSE:ESNT - Free Report) by 76.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,210 shares of the financial services provider's stock after selling 26,249 shares during the quarter. Entropy Technologies LP's holdings in Essent Group were worth $447,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in Essent Group by 726.8% in the 3rd quarter. UMB Bank n.a. now owns 463 shares of the financial services provider's stock worth $30,000 after acquiring an additional 407 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Essent Group in the 3rd quarter worth approximately $32,000. R Squared Ltd purchased a new position in Essent Group in the 4th quarter worth approximately $63,000. Advisors Asset Management Inc. boosted its holdings in Essent Group by 53.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider's stock worth $88,000 after acquiring an additional 477 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in shares of Essent Group in the 3rd quarter valued at approximately $130,000. Hedge funds and other institutional investors own 93.00% of the company's stock.
Essent Group Price Performance
Shares of ESNT stock traded down $1.48 on Friday, hitting $56.43. 1,784,852 shares of the stock traded hands, compared to its average volume of 757,566. The company has a market capitalization of $5.99 billion, a PE ratio of 8.18, a PEG ratio of 2.75 and a beta of 1.11. Essent Group Ltd. has a 1-year low of $51.69 and a 1-year high of $65.33. The company's fifty day moving average is $56.13 and its 200 day moving average is $59.08.
Essent Group (NYSE:ESNT - Get Free Report) last posted its quarterly earnings results on Friday, February 14th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.09). The firm had revenue of $315.00 million for the quarter, compared to analyst estimates of $313.88 million. Essent Group had a net margin of 60.15% and a return on equity of 13.81%. The business's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.64 earnings per share. As a group, equities research analysts expect that Essent Group Ltd. will post 6.94 EPS for the current year.
Essent Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 14th will be given a $0.31 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Essent Group's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 2.20%. Essent Group's dividend payout ratio (DPR) is currently 16.23%.
Analyst Ratings Changes
A number of brokerages have issued reports on ESNT. JPMorgan Chase & Co. cut their target price on Essent Group from $67.00 to $60.00 and set a "neutral" rating on the stock in a research report on Monday, December 9th. The Goldman Sachs Group cut their target price on Essent Group from $68.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 5th. Barclays lowered Essent Group from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $69.00 to $58.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods cut their target price on Essent Group from $75.00 to $72.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada cut their target price on Essent Group from $73.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $62.71.
View Our Latest Report on ESNT
About Essent Group
(
Free Report)
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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