Entropy Technologies LP Raises Stake in Essent Group Ltd. (NYSE:ESNT)

Entropy Technologies LP lifted its holdings in Essent Group Ltd. (NYSE:ESNT - Free Report) by 156.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,459 shares of the financial services provider's stock after purchasing an additional 21,034 shares during the quarter. Entropy Technologies LP's holdings in Essent Group were worth $2,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of ESNT. Janney Montgomery Scott LLC lifted its holdings in Essent Group by 2.9% in the first quarter. Janney Montgomery Scott LLC now owns 10,297 shares of the financial services provider's stock valued at $613,000 after acquiring an additional 287 shares during the period. Empowered Funds LLC bought a new stake in Essent Group during the first quarter valued at approximately $977,000. Oppenheimer & Co. Inc. purchased a new stake in Essent Group during the first quarter valued at approximately $780,000. Sei Investments Co. raised its position in Essent Group by 2.1% in the first quarter. Sei Investments Co. now owns 44,437 shares of the financial services provider's stock worth $2,644,000 after acquiring an additional 922 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in shares of Essent Group by 65.3% during the 1st quarter. QRG Capital Management Inc. now owns 6,283 shares of the financial services provider's stock worth $374,000 after acquiring an additional 2,482 shares during the last quarter. Institutional investors own 93.00% of the company's stock.

Analyst Upgrades and Downgrades

ESNT has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Essent Group from $68.00 to $67.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. BTIG Research boosted their price objective on Essent Group from $61.00 to $64.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Barclays decreased their target price on shares of Essent Group from $72.00 to $69.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Keefe, Bruyette & Woods upgraded shares of Essent Group from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $65.00 to $70.00 in a research report on Monday, August 5th. Finally, 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 report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $65.00.

Essent Group Stock Up 0.3 %

ESNT stock traded up $0.15 during mid-day trading on Wednesday, hitting $57.20. The company had a trading volume of 336,061 shares, compared to its average volume of 519,638. The company has a 50-day moving average price of $61.79 and a 200 day moving average price of $59.43. Essent Group Ltd. has a 12-month low of $47.56 and a 12-month high of $65.33. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 8.25, a P/E/G ratio of 2.67 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 analysts' consensus estimates 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 net margin of 60.15% and a return on equity of 13.81%. Essent Group's quarterly revenue was up 969.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.66 earnings per share. As a group, analysts expect that Essent Group Ltd. will post 6.95 EPS for the current year.

Essent Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.28 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.12 annualized dividend and a yield of 1.96%. Essent Group's dividend payout ratio (DPR) is currently 16.23%.

Insiders Place Their Bets

In related news, CFO David B. Weinstock sold 2,000 shares of Essent Group stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total value of $127,180.00. Following the completion of the transaction, the chief financial officer now owns 25,416 shares in the company, valued at approximately $1,616,203.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company's stock.

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.