Raymond James Financial Inc. Invests $2.46 Million in Essent Group Ltd. (NYSE:ESNT)

Raymond James Financial Inc. bought a new stake in Essent Group Ltd. (NYSE:ESNT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 45,105 shares of the financial services provider's stock, valued at approximately $2,456,000.

Several other large investors have also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC acquired a new position in shares of Essent Group during the 4th quarter valued at about $25,000. US Bancorp DE increased its position in Essent Group by 53.3% during the fourth quarter. US Bancorp DE now owns 1,125 shares of the financial services provider's stock worth $61,000 after purchasing an additional 391 shares during the last quarter. R Squared Ltd acquired a new position in Essent Group during the fourth quarter worth approximately $63,000. Advisors Asset Management Inc. raised its stake in Essent Group by 53.9% during 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. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of 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 valued at $129,000 after purchasing an additional 180 shares during the last quarter. 93.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Essent Group in a research report on Tuesday, February 18th. JPMorgan Chase & Co. cut their price objective 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 decreased their target price on Essent Group from $72.00 to $71.00 and set an "outperform" rating for the company in a report on Tuesday, February 18th. Finally, Barclays lowered shares of Essent Group from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $69.00 to $58.00 in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $62.57.

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Essent Group Price Performance

Essent Group stock traded up $0.52 during midday trading on Wednesday, hitting $58.76. 691,696 shares of the company were exchanged, compared to its average volume of 615,356. Essent Group Ltd. has a fifty-two week low of $52.22 and a fifty-two week high of $65.34. The company's fifty day moving average price is $56.96 and its 200-day moving average price is $57.85. The company has a market cap of $6.10 billion, a PE ratio of 8.59, a price-to-earnings-growth 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 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.09). Essent Group had a net margin of 58.69% and a return on equity of 13.35%. The firm had revenue of $315.00 million during the quarter, compared to analysts' expectations of $313.88 million. During the same quarter last year, the company posted $1.64 earnings per share. Essent Group's revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts expect that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.

Essent Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 14th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from Essent Group's previous quarterly dividend of $0.28. The ex-dividend date was Friday, March 14th. Essent Group's payout ratio is presently 18.13%.

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.