Kingsview Wealth Management LLC Takes $2.21 Million Position in Essent Group Ltd. (NYSE:ESNT)

Kingsview Wealth Management LLC bought a new position in Essent Group Ltd. (NYSE:ESNT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 34,359 shares of the financial services provider's stock, valued at approximately $2,209,000.

Several other hedge funds have also recently modified their holdings of the stock. Citigroup Inc. lifted its stake in Essent Group by 81.9% in the third quarter. Citigroup Inc. now owns 100,253 shares of the financial services provider's stock worth $6,445,000 after purchasing an additional 45,126 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Essent Group by 0.8% during 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 acquiring an additional 12,431 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Essent Group by 112.0% in the 3rd quarter. Intech Investment Management LLC now owns 27,064 shares of the financial services provider's stock valued at $1,740,000 after purchasing an additional 14,300 shares during the last quarter. Advisors Asset Management Inc. boosted its stake 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 purchasing an additional 477 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Essent Group by 561.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 56,983 shares of the financial services provider's stock worth $3,663,000 after purchasing an additional 48,366 shares during the last quarter. Hedge funds and other institutional investors own 93.00% of the company's stock.

Essent Group Trading Down 0.6 %

ESNT traded down $0.37 during trading hours on Tuesday, hitting $57.75. 219,156 shares of the company's stock were exchanged, compared to its average volume of 530,441. The firm has a 50 day moving average of $60.56 and a 200 day moving average of $59.52. The firm has a market cap of $6.13 billion, a P/E ratio of 8.42, a price-to-earnings-growth ratio of 2.65 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.

Essent Group (NYSE:ESNT - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The financial services provider reported $1.65 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.08). Essent Group had a return on equity of 13.81% and a net margin of 60.15%. The company had revenue of $3.17 billion for the quarter, compared to analysts' expectations of $316.80 million. During the same quarter last year, the company earned $1.66 EPS. Essent Group's revenue for the quarter was up 969.2% compared to the same quarter last year. As a group, research analysts expect that Essent Group Ltd. will post 6.95 EPS for the current fiscal year.

Essent Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, December 2nd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Monday, December 2nd. Essent Group's dividend payout ratio is presently 16.23%.

Insider Buying and Selling

In other Essent Group news, CFO David B. Weinstock sold 2,000 shares of the company's stock in a transaction 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 owns 25,416 shares of the company's stock, valued at approximately $1,616,203.44. This represents a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ESNT. Barclays reduced their price objective 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. Royal Bank of Canada reduced their target price on shares of Essent Group from $73.00 to $67.00 and set an "outperform" rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. cut 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. The Goldman Sachs Group lowered their target price on Essent Group from $68.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 5th. Finally, BTIG Research lifted their price target on Essent Group from $61.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $65.00.

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.