New Age Alpha Advisors LLC acquired a new stake in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,733 shares of the financial services provider's stock, valued at approximately $312,000.
A number of other hedge funds also recently bought and sold shares of ESNT. Mainstream Capital Management LLC bought a new position in Essent Group during the fourth quarter valued at approximately $25,000. Picton Mahoney Asset Management boosted its stake in shares of Essent Group by 68.8% in the 4th quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 238 shares in the last quarter. US Bancorp DE grew its holdings in shares of Essent Group by 53.3% during the 4th quarter. US Bancorp DE now owns 1,125 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 391 shares during the last quarter. R Squared Ltd bought a new position in shares of Essent Group during the 4th quarter valued at $63,000. Finally, Parkside Financial Bank & Trust raised its position in Essent Group by 8.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,363 shares of the financial services provider's stock worth $129,000 after purchasing an additional 180 shares during the period. Institutional investors own 93.00% of the company's stock.
Essent Group Price Performance
ESNT traded down $2.25 during midday trading on Friday, reaching $54.49. 976,979 shares of the company's stock traded hands, compared to its average volume of 619,324. Essent Group Ltd. has a 52 week low of $52.22 and a 52 week high of $65.34. The firm has a fifty day moving average of $56.88 and a two-hundred day moving average of $57.68. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 7.97, a P/E/G ratio of 2.70 and a beta of 0.80.
Essent Group (NYSE:ESNT - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $313.88 million. Essent Group had a net margin of 58.69% and a return on equity of 13.35%. Essent Group's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 EPS. Sell-side analysts forecast that Essent Group Ltd. will post 6.88 EPS for the current year.
Essent Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 14th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.28%. This is a boost from Essent Group's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 14th. Essent Group's dividend payout ratio (DPR) is currently 18.13%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $67.00 price objective on shares of Essent Group in a research note on Tuesday, February 18th. Barclays lowered Essent Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $69.00 to $58.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods lowered their price objective on Essent Group from $72.00 to $71.00 and set an "outperform" rating for the company in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. dropped their price objective on Essent Group from $67.00 to $60.00 and set a "neutral" rating for the company in a research note on Monday, December 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Essent Group currently has a consensus rating of "Hold" and an average target price of $62.57.
Get Our Latest Research Report on Essent Group
Essent Group Profile
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Free Report)
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.
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