Loomis Sayles & Co. L P lowered its position in Essent Group Ltd (NYSE:ESNT) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 343,656 shares of the financial services provider’s stock after selling 3,738 shares during the period. Loomis Sayles & Co. L P owned approximately 0.35% of Essent Group worth $15,207,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ESNT. Eaton Vance Management raised its stake in shares of Essent Group by 2.8% during the 3rd quarter. Eaton Vance Management now owns 219,275 shares of the financial services provider’s stock worth $9,703,000 after buying an additional 5,974 shares during the period. United Services Automobile Association raised its stake in shares of Essent Group by 6.1% during the 3rd quarter. United Services Automobile Association now owns 170,036 shares of the financial services provider’s stock worth $7,524,000 after buying an additional 9,806 shares during the period. Baird Financial Group Inc. raised its stake in shares of Essent Group by 16.6% during the 3rd quarter. Baird Financial Group Inc. now owns 72,707 shares of the financial services provider’s stock worth $3,177,000 after buying an additional 10,364 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Essent Group by 5.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,354,574 shares of the financial services provider’s stock worth $59,936,000 after buying an additional 65,391 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in shares of Essent Group by 25.7% during the 3rd quarter. Panagora Asset Management Inc. now owns 134,957 shares of the financial services provider’s stock worth $5,972,000 after buying an additional 27,620 shares during the period. Hedge funds and other institutional investors own 91.32% of the company’s stock.
In related news, SVP Jeff Cashmer sold 25,000 shares of the stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $40.06, for a total value of $1,001,500.00. Following the completion of the transaction, the senior vice president now directly owns 143,395 shares of the company’s stock, valued at approximately $5,744,403.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David B. Weinstock sold 2,000 shares of the stock in a transaction on Friday, September 14th. The shares were sold at an average price of $45.51, for a total value of $91,020.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,468 shares of company stock valued at $3,941,196. 3.00% of the stock is owned by corporate insiders.
NYSE ESNT opened at $35.84 on Friday. Essent Group Ltd has a one year low of $32.73 and a one year high of $50.08. The firm has a market capitalization of $3.60 billion, a P/E ratio of 8.66, a PEG ratio of 0.80 and a beta of 1.29.
Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Friday, November 9th. The financial services provider reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.06. Essent Group had a return on equity of 20.18% and a net margin of 72.96%. The firm had revenue of $185.00 million during the quarter, compared to the consensus estimate of $181.40 million. During the same period in the prior year, the company earned $0.82 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. Equities analysts predict that Essent Group Ltd will post 4.61 earnings per share for the current year.
Several research analysts have recently weighed in on the company. ValuEngine raised Essent Group from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Zacks Investment Research downgraded Essent Group from a “buy” rating to a “sell” rating in a research note on Monday, October 8th. Barclays upped their target price on Essent Group from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday, November 12th. Finally, JPMorgan Chase & Co. upped their target price on Essent Group from $42.50 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $50.43.
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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. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.
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