State Street Corp Raises Stake in Essent Group Ltd. (NYSE:ESNT)

State Street Corp lifted its stake in Essent Group Ltd. (NYSE:ESNT - Free Report) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,206,325 shares of the financial services provider's stock after buying an additional 59,750 shares during the period. State Street Corp owned approximately 3.96% of Essent Group worth $270,425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ESNT. Inspire Investing LLC boosted its holdings in shares of Essent Group by 2.8% in the third quarter. Inspire Investing LLC now owns 6,418 shares of the financial services provider's stock valued at $413,000 after acquiring an additional 177 shares during the period. GHP Investment Advisors Inc. grew its position in Essent Group by 0.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 50,569 shares of the financial services provider's stock worth $2,841,000 after purchasing an additional 203 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Essent Group by 2.0% in the third quarter. Los Angeles Capital Management LLC now owns 15,552 shares of the financial services provider's stock valued at $1,000,000 after purchasing an additional 298 shares during the period. Provident Investment Management Inc. raised its holdings in shares of Essent Group by 2.5% in the second quarter. Provident Investment Management Inc. now owns 14,060 shares of the financial services provider's stock valued at $790,000 after buying an additional 345 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in shares of Essent Group by 1.3% during the third quarter. Wedge Capital Management L L P NC now owns 32,752 shares of the financial services provider's stock worth $2,106,000 after buying an additional 406 shares during the period. 93.00% of the stock is currently owned by institutional investors and hedge funds.

Essent Group Stock Performance

ESNT stock traded up $0.35 during trading on Wednesday, reaching $55.51. 552,413 shares of the company were exchanged, compared to its average volume of 534,167. The stock's 50 day moving average price is $59.17 and its 200 day moving average price is $59.56. Essent Group Ltd. has a 52-week low of $49.67 and a 52-week high of $65.33. The company has a market cap of $5.90 billion, a P/E ratio of 7.99, a PEG ratio of 2.62 and a beta of 1.09.

Essent Group (NYSE:ESNT - Get Free Report) last announced 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). The firm had revenue of $3.17 billion for the quarter, compared to analysts' expectations of $316.80 million. Essent Group had a return on equity of 13.81% and a net margin of 60.15%. Essent Group's revenue was up 969.2% compared to the same quarter last year. During the same period last year, the firm earned $1.66 EPS. As a group, equities research analysts forecast that Essent Group Ltd. will post 6.95 EPS for the current year.

Essent Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, December 2nd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.02%. The ex-dividend date is Monday, December 2nd. Essent Group's dividend payout ratio (DPR) is 16.23%.

Insider Activity

In related news, CFO David B. Weinstock sold 2,000 shares of the company's 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 owns 25,416 shares of the company's stock, valued at approximately $1,616,203.44. This represents a 7.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.20% of the company's stock.

Analyst Ratings Changes

ESNT has been the topic of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Essent Group from $73.00 to $75.00 and gave the company an "outperform" rating in a research report on Tuesday. Barclays cut their price target 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. JPMorgan Chase & Co. lowered their price objective on shares of Essent Group from $67.00 to $60.00 and set a "neutral" rating on the stock in a research report on Monday. Royal Bank of Canada cut their price objective on shares of Essent Group from $73.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Finally, The Goldman Sachs Group reduced their target price on shares of Essent Group from $68.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.71.

About Essent Group

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.