iSAM Funds UK Ltd Buys New Position in Essent Group Ltd. (NYSE:ESNT)

iSAM Funds UK Ltd bought a new position in Essent Group Ltd. (NYSE:ESNT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,332 shares of the financial services provider’s stock, valued at approximately $407,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Essent Group by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,680,074 shares of the financial services provider’s stock valued at $262,973,000 after purchasing an additional 445,853 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Essent Group by 132.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 424,542 shares of the financial services provider’s stock valued at $27,294,000 after buying an additional 241,840 shares in the last quarter. AQR Capital Management LLC increased its position in Essent Group by 68.8% in the 2nd quarter. AQR Capital Management LLC now owns 436,009 shares of the financial services provider’s stock valued at $24,499,000 after buying an additional 177,700 shares in the last quarter. Walleye Capital LLC raised its stake in Essent Group by 45.5% during the 3rd quarter. Walleye Capital LLC now owns 345,675 shares of the financial services provider’s stock worth $22,223,000 after buying an additional 108,061 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in Essent Group in the second quarter worth approximately $4,748,000. 93.00% of the stock is owned by institutional investors and hedge funds.

Essent Group Trading Down 0.5 %

Shares of Essent Group stock opened at $56.14 on Friday. The company has a market capitalization of $5.96 billion, a P/E ratio of 8.14, a price-to-earnings-growth ratio of 2.63 and a beta of 1.09. The stock has a fifty day simple moving average of $59.36 and a 200 day simple moving average of $59.54. Essent Group Ltd. has a 12-month low of $48.08 and a 12-month high of $65.33.

Essent Group (NYSE:ESNT) last posted its earnings results on Friday, November 1st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.08). The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $316.80 million. Essent Group had a return on equity of 13.81% and a net margin of 60.15%. The business’s revenue was up 969.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.66 EPS. On average, analysts predict that Essent Group Ltd. will post 6.95 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. Shareholders of record on Monday, December 2nd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 2.00%. Essent Group’s dividend payout ratio is currently 16.23%.

Analyst Ratings Changes

ESNT has been the subject of several recent research reports. Barclays decreased their price objective on Essent Group from $72.00 to $69.00 and set an “overweight” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of Essent Group from $68.00 to $67.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. The Goldman Sachs Group lowered their price objective on shares of Essent Group from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Finally, Royal Bank of Canada reduced their price objective 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. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Essent Group has an average rating of “Moderate Buy” and an average target price of $65.00.

Insiders Place Their Bets

In related news, CFO David B. Weinstock sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total value of $127,180.00. Following the transaction, the chief financial officer now directly owns 25,416 shares of the company’s stock, valued at approximately $1,616,203.44. The trade was a 7.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.

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. 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.