Fmr LLC Has $573.40 Million Stock Position in Essent Group Ltd. (NYSE:ESNT)

FMR LLC decreased its position in Essent Group Ltd. (NYSE:ESNT - Free Report) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,919,024 shares of the financial services provider's stock after selling 535,098 shares during the period. FMR LLC owned 8.40% of Essent Group worth $573,404,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Essent Group by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,680,074 shares of the financial services provider's stock worth $262,973,000 after purchasing an additional 445,853 shares during the period. AQR Capital Management LLC increased its stake in shares of Essent Group by 68.8% in the 2nd quarter. AQR Capital Management LLC now owns 436,009 shares of the financial services provider's stock valued at $24,499,000 after acquiring an additional 177,700 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Essent Group in the 2nd quarter valued at approximately $4,748,000. Hsbc Holdings PLC bought a new position in Essent Group during the 2nd quarter worth approximately $4,416,000. Finally, Panagora Asset Management Inc. acquired a new position in Essent Group during the second quarter valued at approximately $3,721,000. Institutional investors own 93.00% of the company's stock.

Essent Group Stock Performance

NYSE ESNT traded up $0.04 during trading on Friday, hitting $57.78. The stock had a trading volume of 308,717 shares, compared to its average volume of 531,296. The company has a market capitalization of $6.14 billion, a PE ratio of 8.37, a P/E/G ratio of 2.70 and a beta of 1.12. Essent Group Ltd. has a 12 month low of $47.56 and a 12 month high of $65.33. The company's 50-day moving average price is $60.18 and its two-hundred day moving average price is $59.50.

Essent Group (NYSE:ESNT - Get Free Report) last posted its quarterly earnings data 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). Essent Group had a return on equity of 13.81% and a net margin of 60.15%. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $316.80 million. During the same quarter in the prior year, the company earned $1.66 earnings per share. The company's quarterly revenue was up 969.2% on a year-over-year basis. As a group, equities analysts anticipate that Essent Group Ltd. will post 6.95 earnings per share for the current fiscal year.

Essent Group Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.94%. Essent Group's dividend payout ratio is presently 16.23%.

Insiders Place Their Bets

In other news, CFO David B. Weinstock sold 2,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 25,416 shares of the company's stock, valued at $1,616,203.44. This trade represents a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ESNT shares. The Goldman Sachs Group reduced their price target on shares of 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 decreased their target price on Essent Group from $72.00 to $69.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. dropped their price target on Essent Group from $68.00 to $67.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada decreased their price objective 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. Finally, Keefe, Bruyette & Woods upgraded shares of Essent Group from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $65.00 to $70.00 in a report on Monday, August 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, the company presently has an average rating of "Moderate Buy" and an average price target of $65.00.

About Essent Group

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.