BlackRock Inc. grew its stake in shares of Essent Group Ltd (NYSE:ESNT) by 0.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,828,599 shares of the financial services provider’s stock after purchasing an additional 27,129 shares during the period. BlackRock Inc. owned approximately 7.96% of Essent Group worth $340,153,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. DE Burlo Group Inc. purchased a new position in Essent Group in the 1st quarter valued at about $4,684,000. Acadian Asset Management LLC purchased a new position in Essent Group in the 1st quarter valued at about $755,000. Parametric Portfolio Associates LLC lifted its holdings in Essent Group by 29.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 138,813 shares of the financial services provider’s stock valued at $6,031,000 after purchasing an additional 31,616 shares in the last quarter. First Trust Advisors LP lifted its holdings in Essent Group by 31.9% in the 1st quarter. First Trust Advisors LP now owns 124,034 shares of the financial services provider’s stock valued at $5,389,000 after purchasing an additional 29,966 shares in the last quarter. Finally, Martingale Asset Management L P lifted its holdings in Essent Group by 45.2% in the 1st quarter. Martingale Asset Management L P now owns 256,088 shares of the financial services provider’s stock valued at $11,128,000 after purchasing an additional 79,695 shares in the last quarter. Institutional investors own 90.13% of the company’s stock.
Separately, Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Essent Group currently has a consensus rating of “Buy” and a consensus target price of $49.60.
In related news, CFO Lawrence E. Mcalee, Jr. sold 9,963 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $50.01, for a total transaction of $498,249.63. Following the completion of the sale, the chief financial officer now owns 217,241 shares of the company’s stock, valued at approximately $10,864,222.41. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jeff Cashmer sold 25,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $45.56, for a total transaction of $1,139,000.00. Following the sale, the senior vice president now directly owns 107,056 shares of the company’s stock, valued at approximately $4,877,471.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,278 shares of company stock valued at $4,129,867. Corporate insiders own 2.90% of the company’s stock.
NYSE ESNT opened at $48.59 on Thursday. Essent Group Ltd has a 12 month low of $31.08 and a 12 month high of $50.51. The stock has a market cap of $4.83 billion, a PE ratio of 10.02, a P/E/G ratio of 0.92 and a beta of 1.40.
Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Friday, May 3rd. The financial services provider reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. Essent Group had a net margin of 64.33% and a return on equity of 21.36%. The company had revenue of $200.53 million during the quarter, compared to the consensus estimate of $196.94 million. During the same quarter in the prior year, the company posted $1.13 EPS. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. Sell-side analysts forecast that Essent Group Ltd will post 5.3 earnings per share for the current year.
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. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.
Read More: Retained Earnings
Receive News & Ratings for Essent Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essent Group and related companies with MarketBeat.com's FREE daily email newsletter.