Net Worth Advisory Group Makes New Investment in Essent Group Ltd. (NYSE:ESNT)

Net Worth Advisory Group acquired a new stake in Essent Group Ltd. (NYSE:ESNT) in the third quarter, Holdings Channel.com reports. The firm acquired 7,202 shares of the financial services provider’s stock, valued at approximately $463,000.

Several other large investors have also made changes to their positions in the business. UMB Bank n.a. increased its holdings in shares of Essent Group by 726.8% during the 3rd quarter. UMB Bank n.a. now owns 463 shares of the financial services provider’s stock worth $30,000 after buying an additional 407 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in Essent Group during the first quarter worth $32,000. Quarry LP raised its position in 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 purchasing an additional 523 shares during the period. Headlands Technologies LLC acquired a new position in shares of Essent Group in the 2nd quarter valued at $47,000. Finally, GAMMA Investing LLC grew its holdings in shares of Essent Group by 49.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,187 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 394 shares during the period. 93.00% of the stock is owned by institutional investors and hedge funds.

Essent Group Price Performance

ESNT opened at $63.95 on Friday. The business has a 50 day simple moving average of $62.98 and a 200-day simple moving average of $58.93. The stock has a market capitalization of $6.82 billion, a P/E ratio of 9.67, a P/E/G ratio of 1.56 and a beta of 1.12. Essent Group Ltd. has a 12 month low of $45.63 and a 12 month high of $65.33.

Essent Group (NYSE:ESNT) last released its quarterly earnings results on Friday, August 2nd. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.23. The company had revenue of $272.90 million for the quarter, compared to analysts’ expectations of $308.33 million. Essent Group had a net margin of 61.31% and a return on equity of 14.40%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $1.61 EPS. Research analysts anticipate that Essent Group Ltd. will post 7.02 EPS for the current year.

Essent Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 30th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.12 annualized dividend and a yield of 1.75%. Essent Group’s dividend payout ratio (DPR) is presently 16.94%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. BTIG Research upped their target price on shares of Essent Group from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays lifted their price objective on shares of Essent Group from $64.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on Essent Group from $63.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Keefe, Bruyette & Woods raised Essent Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $65.00 to $70.00 in a research report on Monday, August 5th. Finally, Royal Bank of Canada raised their target price on Essent Group from $61.00 to $67.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Insider Activity

In related news, CFO David B. Weinstock sold 2,000 shares of the business’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 transaction 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Essent Group news, Director Roy James Kasmar sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $58.81, for a total value of $294,050.00. Following the sale, the director now directly owns 27,140 shares in the company, valued at approximately $1,596,103.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David B. Weinstock sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total transaction of $127,180.00. Following the transaction, the chief financial officer now owns 25,416 shares of the company’s stock, valued at $1,616,203.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

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.