EMG Holdings L.P. Makes New $1.69 Million Investment in Essent Group Ltd. (NYSE:ESNT)

EMG Holdings L.P. purchased a new position in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,000 shares of the financial services provider's stock, valued at approximately $1,686,000. Essent Group makes up about 0.8% of EMG Holdings L.P.'s portfolio, making the stock its 19th biggest holding.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Essent Group by 3.8% during the first quarter. Vanguard Group Inc. now owns 11,917,819 shares of the financial services provider's stock valued at $709,229,000 after purchasing an additional 440,385 shares during the period. Dimensional Fund Advisors LP boosted its position in Essent Group by 10.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,680,074 shares of the financial services provider's stock valued at $262,973,000 after buying an additional 445,853 shares during the period. Principal Financial Group Inc. grew its holdings in Essent Group by 10.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,247,184 shares of the financial services provider's stock worth $74,220,000 after acquiring an additional 120,881 shares during the last quarter. Norges Bank purchased a new position in shares of Essent Group in the fourth quarter valued at about $60,678,000. Finally, Jennison Associates LLC raised its stake in shares of Essent Group by 94.1% during the first quarter. Jennison Associates LLC now owns 739,688 shares of the financial services provider's stock valued at $44,019,000 after acquiring an additional 358,621 shares during the last quarter. 93.00% of the stock is currently owned by institutional investors.

Essent Group Stock Down 1.6 %

Shares of Essent Group stock traded down $1.02 during trading hours on Friday, reaching $63.52. 1,488,713 shares of the stock traded hands, compared to its average volume of 503,055. The company has a 50 day moving average price of $61.74 and a 200 day moving average price of $57.86. Essent Group Ltd. has a one year low of $45.63 and a one year high of $65.33. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 1.53 and a beta of 1.12.

Essent Group (NYSE:ESNT - Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.23. Essent Group had a net margin of 61.31% and a return on equity of 14.40%. The firm had revenue of $272.90 million during the quarter, compared to the consensus estimate of $308.33 million. During the same quarter in the previous year, the firm posted $1.61 EPS. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. Sell-side analysts anticipate that Essent Group Ltd. will post 7.02 earnings per share for the current year.

Essent Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 30th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, August 30th. Essent Group's dividend payout ratio (DPR) is 16.94%.

Analysts Set New Price Targets

Several analysts recently issued reports on ESNT shares. JPMorgan Chase & Co. raised their target price on Essent Group from $62.00 to $63.00 and gave the stock a "neutral" rating in a research note on Monday, August 5th. BTIG Research lifted their price target on shares of Essent Group from $61.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Barclays boosted their price target on Essent Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods raised Essent Group from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $65.00 to $70.00 in a research report on Monday, August 5th. Finally, Royal Bank of Canada increased their price objective on shares of Essent Group from $61.00 to $67.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Essent Group presently has an average rating of "Moderate Buy" and a consensus target price of $64.33.

Insider Buying and Selling

In other Essent Group news, Director Roy James Kasmar sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $58.81, for a total transaction of $294,050.00. Following the sale, the director now directly owns 27,140 shares of the company's stock, valued at $1,596,103.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Essent Group news, SVP Vijay Bhasin sold 11,188 shares of the company's stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $60.14, for a total transaction of $672,846.32. Following the sale, the senior vice president now directly owns 199,359 shares in the company, valued at $11,989,450.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Roy James Kasmar sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $58.81, for a total value of $294,050.00. Following the transaction, the director now directly owns 27,140 shares in the company, valued at approximately $1,596,103.40. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

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.