Geode Capital Management LLC Sells 82,608 Shares of Essent Group Ltd. (NYSE:ESNT)

Geode Capital Management LLC trimmed its stake in Essent Group Ltd. (NYSE:ESNT - Free Report) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,619,394 shares of the financial services provider's stock after selling 82,608 shares during the period. Geode Capital Management LLC owned 2.47% of Essent Group worth $168,431,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. UMB Bank n.a. increased its position in Essent Group by 726.8% in the third quarter. UMB Bank n.a. now owns 463 shares of the financial services provider's stock worth $30,000 after buying an additional 407 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Essent Group in the 3rd quarter worth approximately $32,000. Headlands Technologies LLC purchased a new stake in Essent Group in the 2nd quarter worth approximately $47,000. Quarry LP raised its stake in Essent Group by 167.1% during the 2nd quarter. Quarry LP now owns 836 shares of the financial services provider's stock worth $47,000 after acquiring an additional 523 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Essent Group by 53.9% in the third quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider's stock worth $88,000 after purchasing an additional 477 shares during the period. 93.00% of the stock is owned by institutional investors.

Essent Group Stock Performance

Shares of NYSE:ESNT traded up $0.44 on Monday, reaching $55.63. The company's stock had a trading volume of 851,539 shares, compared to its average volume of 536,824. The company has a 50-day simple moving average of $58.49 and a 200 day simple moving average of $59.54. Essent Group Ltd. has a 52-week low of $50.65 and a 52-week high of $65.33. The company has a market cap of $5.91 billion, a P/E ratio of 8.00, a PEG ratio of 2.60 and a beta of 1.09.

Essent Group (NYSE:ESNT - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.73 by ($0.08). The company had revenue of $3.17 billion for the quarter, compared to analysts' expectations of $316.80 million. Essent Group had a net margin of 60.15% and a return on equity of 13.81%. The company's revenue for the quarter was up 969.2% on a year-over-year basis. During the same quarter last year, the company earned $1.66 earnings per share. On average, equities research analysts forecast that Essent Group Ltd. will post 6.94 EPS for the current fiscal year.

Essent Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, December 2nd were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Monday, December 2nd. Essent Group's dividend payout ratio (DPR) is 16.23%.

Insider Activity

In other news, CFO David B. Weinstock sold 2,000 shares of the 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 sale, the chief financial officer now directly owns 25,416 shares in the company, valued at approximately $1,616,203.44. This represents a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.90% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ESNT. Royal Bank of Canada lowered their target price on shares of Essent Group from $73.00 to $67.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Barclays cut their target price on Essent Group from $72.00 to $69.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on Essent Group from $67.00 to $60.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. Keefe, Bruyette & Woods increased their price objective on shares of Essent Group from $73.00 to $75.00 and gave the company an "outperform" rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group lowered their target price on shares of Essent Group from $68.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $64.71.

Essent Group Company 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.