Brandywine Global Investment Management LLC lowered its stake in Essent Group Ltd (NYSE:ESNT) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 264,039 shares of the financial services provider’s stock after selling 3,094 shares during the period. Brandywine Global Investment Management LLC owned 0.27% of Essent Group worth $11,465,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Essent Group by 9.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 100,828 shares of the financial services provider’s stock worth $4,084,000 after purchasing an additional 8,762 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in Essent Group in the third quarter valued at $684,000. Swiss National Bank increased its holdings in Essent Group by 19.5% in the third quarter. Swiss National Bank now owns 139,500 shares of the financial services provider’s stock valued at $5,650,000 after buying an additional 22,800 shares in the last quarter. Alps Advisors Inc. purchased a new position in Essent Group in the third quarter valued at $488,000. Finally, Sei Investments Co. increased its holdings in Essent Group by 182.6% in the third quarter. Sei Investments Co. now owns 8,211 shares of the financial services provider’s stock valued at $333,000 after buying an additional 5,305 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.
ESNT has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Monday, December 25th. ValuEngine cut shares of Essent Group from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Royal Bank of Canada initiated coverage on shares of Essent Group in a report on Wednesday, December 20th. They issued an “outperform” rating and a $54.00 price objective for the company. BTIG Research lifted their price objective on shares of Essent Group from $49.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Wells Fargo & Co initiated coverage on shares of Essent Group in a report on Tuesday, November 28th. They issued an “outperform” rating and a $52.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $52.52.
Shares of Essent Group Ltd (NYSE:ESNT) opened at $42.99 on Tuesday. Essent Group Ltd has a 52-week low of $33.45 and a 52-week high of $50.08. The stock has a market cap of $4,220.00, a PE ratio of 13.91, a PEG ratio of 0.98 and a beta of 1.14.
Essent Group (NYSE:ESNT) last announced its earnings results on Friday, February 9th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Essent Group had a net margin of 65.87% and a return on equity of 17.77%. The business had revenue of $161.77 million for the quarter, compared to analyst estimates of $155.22 million. During the same quarter last year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. research analysts expect that Essent Group Ltd will post 4.42 earnings per share for the current fiscal year.
About Essent Group
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance.
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