Van ECK Associates Corp Increases Stock Position in Essent Group Ltd. (NYSE:ESNT)

Van ECK Associates Corp raised its holdings in Essent Group Ltd. (NYSE:ESNT - Free Report) by 40.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,087 shares of the financial services provider's stock after purchasing an additional 18,597 shares during the period. Van ECK Associates Corp owned about 0.06% of Essent Group worth $4,022,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. boosted its stake in shares of Essent Group by 726.8% in the third quarter. UMB Bank n.a. now owns 463 shares of the financial services provider's stock worth $30,000 after acquiring an additional 407 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Essent Group during the first quarter worth $32,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Essent Group during the third quarter worth $32,000. Headlands Technologies LLC purchased a new position in shares of Essent Group in the second quarter worth about $47,000. Finally, Quarry LP boosted its position in Essent Group by 167.1% during the second quarter. Quarry LP now owns 836 shares of the financial services provider's stock worth $47,000 after acquiring an additional 523 shares during the last quarter. 93.00% of the stock is currently owned by hedge funds and other institutional investors.

Essent Group Stock Down 0.0 %

Shares of ESNT traded down $0.02 during trading on Friday, reaching $55.27. 577,665 shares of the company traded hands, compared to its average volume of 715,433. The stock has a 50-day simple moving average of $62.08 and a 200-day simple moving average of $59.32. The stock has a market cap of $5.87 billion, a PE ratio of 8.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.12. Essent Group Ltd. has a twelve month low of $47.56 and a twelve month high of $65.33.

Essent Group (NYSE:ESNT - Get Free Report) last announced its earnings results on Friday, November 1st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.73 by ($0.08). Essent Group had a net margin of 60.15% and a return on equity of 13.81%. The firm had revenue of $3.17 billion during the quarter, compared to analysts' expectations of $316.80 million. During the same period in the previous year, the firm earned $1.66 EPS. The firm's revenue for the quarter was up 969.2% compared to the same quarter last year. On average, equities research analysts predict that Essent Group Ltd. will post 6.93 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. 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 2.03%. The ex-dividend date of this dividend is Monday, December 2nd. Essent Group's dividend payout ratio (DPR) is 16.23%.

Insider Buying and Selling at Essent Group

In other Essent Group news, CFO David B. Weinstock sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total value of $127,180.00. Following the sale, the chief financial officer now directly owns 25,416 shares of the company's stock, valued at approximately $1,616,203.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ESNT. Barclays decreased their target price on shares of Essent Group from $72.00 to $69.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. dropped their target price on Essent Group from $68.00 to $67.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Keefe, Bruyette & Woods upgraded Essent Group from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $65.00 to $70.00 in a report on Monday, August 5th. Royal Bank of Canada lowered their price target on shares of Essent Group from $73.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, November 4th. Finally, BTIG Research raised their price objective on shares of Essent Group from $61.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $65.00.

Essent Group Company 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.