Essent Group Ltd. (NYSE:ESNT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,357 shares of the financial services provider's stock after selling 14,248 shares during the period. Allspring Global Investments Holdings LLC owned about 0.24% of Essent Group worth $13,639,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. State Street Corp boosted its position in shares of Essent Group by 1.4% during the third quarter. State Street Corp now owns 4,206,325 shares of the financial services provider's stock valued at $270,425,000 after buying an additional 59,750 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Essent Group by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,551,145 shares of the financial services provider's stock valued at $99,723,000 after purchasing an additional 12,431 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Essent Group by 10.8% in the third quarter. JPMorgan Chase & Co. now owns 1,021,343 shares of the financial services provider's stock valued at $65,662,000 after purchasing an additional 99,604 shares during the period. Jennison Associates LLC boosted its holdings in shares of Essent Group by 31.1% in the fourth quarter. Jennison Associates LLC now owns 984,414 shares of the financial services provider's stock valued at $53,591,000 after purchasing an additional 233,636 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Essent Group by 132.4% in 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 period. Hedge funds and other institutional investors own 93.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ESNT shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $67.00 price target on shares of Essent Group in a report on Tuesday. Keefe, Bruyette & Woods lowered their price target on Essent Group from $72.00 to $71.00 and set an "outperform" rating for the company in a report on Tuesday. Barclays lowered Essent Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $69.00 to $58.00 in a report on Monday, January 6th. The Goldman Sachs Group lowered their price target on Essent Group from $68.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lowered their price target on Essent Group from $67.00 to $60.00 and set a "neutral" rating for the company in a report on Monday, December 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $62.57.

Essent Group Stock Performance

NYSE:ESNT traded up $0.07 during trading hours on Friday, reaching $56.16. The company's stock had a trading volume of 1,251,707 shares, compared to its average volume of 827,630. The company has a market capitalization of $5.96 billion, a P/E ratio of 8.21, a price-to-earnings-growth ratio of 2.69 and a beta of 1.11. Essent Group Ltd. has a 12 month low of $51.99 and a 12 month high of $65.33. The stock has a 50 day moving average price of $56.21 and a two-hundred day moving average price of $58.95.

Essent Group (NYSE:ESNT - Get Free Report) last issued its quarterly earnings data on Friday, February 14th. The financial services provider reported $1.58 EPS for the quarter, missing analysts' consensus estimates of $1.67 by ($0.09). The business had revenue of $315.00 million during the quarter, compared to the consensus estimate of $313.88 million. Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The business's quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $1.64 EPS. As a group, analysts predict that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.

Essent Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 14th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, March 14th. This is an increase from Essent Group's previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.21%. Essent Group's dividend payout ratio is presently 16.37%.

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.