Versor Investments LP Boosts Stock Position in Essent Group Ltd. (NYSE:ESNT)

Versor Investments LP boosted its holdings in Essent Group Ltd. (NYSE:ESNT - Free Report) by 246.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,037 shares of the financial services provider's stock after buying an additional 10,700 shares during the quarter. Versor Investments LP's holdings in Essent Group were worth $967,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. UMB Bank n.a. boosted its stake in Essent Group by 726.8% in the third quarter. UMB Bank n.a. now owns 463 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 407 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Essent Group in the 1st quarter valued at about $32,000. Harbor Capital Advisors Inc. acquired a new position in Essent Group during the third quarter worth approximately $32,000. Headlands Technologies LLC purchased a new stake in Essent Group in the second quarter valued at approximately $47,000. Finally, Quarry LP boosted its holdings in shares of Essent Group by 167.1% in the second quarter. Quarry LP now owns 836 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 523 shares during the period. 93.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ESNT shares. Keefe, Bruyette & Woods raised shares of Essent Group from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $65.00 to $70.00 in a report on Monday, August 5th. Royal Bank of Canada reduced their target price on shares of Essent Group from $73.00 to $67.00 and set an "outperform" rating for the company in a report on Monday, November 4th. The Goldman Sachs Group decreased 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. Barclays dropped their price target on Essent Group from $72.00 to $69.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Finally, BTIG Research increased their price objective on 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 issued a buy rating to the company's stock. According to data from MarketBeat, Essent Group has an average rating of "Moderate Buy" and an average price target of $65.00.

Essent Group Stock Performance

ESNT traded down $0.17 during trading on Wednesday, reaching $56.88. The company's stock had a trading volume of 1,012,069 shares, compared to its average volume of 522,710. The company's fifty day moving average price is $61.79 and its 200-day moving average price is $59.43. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 2.67 and a beta of 1.12. Essent Group Ltd. has a 52-week low of $47.56 and a 52-week high of $65.33.

Essent Group (NYSE:ESNT - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The financial services provider reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.73 by ($0.08). Essent Group had a return on equity of 13.81% and a net margin of 60.15%. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $316.80 million. During the same period in the prior year, the company earned $1.66 EPS. The company's revenue was up 969.2% on a year-over-year basis. Equities analysts predict that Essent Group Ltd. will post 6.95 earnings per share for the current year.

Essent Group Announces Dividend

The business also recently disclosed 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 1.97%. The ex-dividend date is Monday, December 2nd. Essent Group's dividend payout ratio is currently 16.23%.

Insiders Place Their Bets

In related news, CFO David B. Weinstock sold 2,000 shares of the firm'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 completion of the transaction, the chief financial officer now directly owns 25,416 shares of the company's stock, valued at $1,616,203.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.90% of the stock is currently owned by company 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.