Polar Capital Holdings Plc Sells 50,000 Shares of Essent Group Ltd. $ESNT

Polar Capital Holdings Plc trimmed its holdings in Essent Group Ltd. (NYSE:ESNT) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,450,000 shares of the financial services provider’s stock after selling 50,000 shares during the quarter. Polar Capital Holdings Plc’s holdings in Essent Group were worth $159,274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ESNT. Caitong International Asset Management Co. Ltd bought a new stake in Essent Group during the 3rd quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Essent Group in the 3rd quarter valued at about $27,000. Los Angeles Capital Management LLC bought a new position in shares of Essent Group in the fourth quarter worth about $27,000. IFP Advisors Inc lifted its position in shares of Essent Group by 97.1% during the fourth quarter. IFP Advisors Inc now owns 676 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 333 shares in the last quarter. Finally, First Horizon Corp lifted its position in shares of Essent Group by 192.8% during the fourth quarter. First Horizon Corp now owns 893 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 588 shares in the last quarter. Institutional investors and hedge funds own 93.00% of the company’s stock.

Insider Activity

In other news, SVP Mary Lourdes Gibbons sold 7,628 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $63.01, for a total transaction of $480,640.28. Following the completion of the transaction, the senior vice president directly owned 237,586 shares in the company, valued at approximately $14,970,293.86. The trade was a 3.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Casale sold 13,064 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $65.05, for a total value of $849,813.20. Following the completion of the sale, the chief executive officer directly owned 2,218,480 shares of the company’s stock, valued at approximately $144,312,124. This trade represents a 0.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,814 shares of company stock worth $1,661,682 in the last three months. Insiders own 3.60% of the company’s stock.

Essent Group Price Performance

Shares of ESNT stock opened at $59.55 on Wednesday. The firm’s 50 day moving average price is $60.48 and its two-hundred day moving average price is $61.39. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.32 and a current ratio of 1.32. Essent Group Ltd. has a 52-week low of $55.22 and a 52-week high of $67.09. The stock has a market cap of $5.49 billion, a PE ratio of 8.48, a PEG ratio of 1.61 and a beta of 0.78.

Essent Group (NYSE:ESNT) last issued its earnings results on Friday, May 8th. The financial services provider reported $1.82 EPS for the quarter, beating the consensus estimate of $1.68 by $0.14. The company had revenue of $336.07 million during the quarter, compared to analysts’ expectations of $297.56 million. Essent Group had a net margin of 53.64% and a return on equity of 12.01%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.69 EPS. As a group, analysts forecast that Essent Group Ltd. will post 7.25 EPS for the current year.

Essent Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, June 1st. Essent Group’s dividend payout ratio is currently 19.94%.

Analyst Upgrades and Downgrades

ESNT has been the subject of a number of research reports. Roth Mkm reissued a “buy” rating and issued a $65.00 price target on shares of Essent Group in a report on Wednesday, June 3rd. JPMorgan Chase & Co. decreased their price objective on Essent Group from $65.00 to $64.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings downgraded Essent Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 4th. Keefe, Bruyette & Woods raised Essent Group from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada initiated coverage on Essent Group in a report on Friday, May 22nd. They issued a “sector perform” rating and a $68.00 price target on the stock. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $66.43.

Essent Group Profile

Essent Group Ltd. (NYSE: ESNT) is a publicly traded insurance holding company specializing in private mortgage insurance and mortgage reinsurance solutions. Through its primary subsidiary, Essent Guaranty, the company provides credit protection to mortgage lenders, helping mitigate the risk of borrower default on residential mortgage loans. Essent’s insurance policies enable lenders to offer low-down-payment programs, supporting homebuyers in achieving homeownership with reduced upfront equity requirements.

Beyond traditional mortgage insurance, Essent offers a suite of risk management and analytics services designed to help financial institutions monitor and manage mortgage portfolios.