Renaissancere Holdings Ltd. Invests $107.11 Billion in Essent Group Ltd. $ESNT

Renaissancere Holdings Ltd. purchased a new stake in Essent Group Ltd. (NYSE:ESNT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,666,374 shares of the financial services provider’s stock, valued at approximately $107,114,521,000. Essent Group comprises 25.4% of Renaissancere Holdings Ltd.’s portfolio, making the stock its 2nd biggest position.

A number of other hedge funds have also modified their holdings of ESNT. Caitong International Asset Management Co. Ltd bought a new position in Essent Group during the 3rd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC bought a new stake in Essent Group in the third quarter valued at approximately $27,000. Los Angeles Capital Management LLC acquired a new stake in Essent Group in the fourth quarter worth $27,000. IFP Advisors Inc raised its holdings in Essent Group by 97.1% in 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 during the period. Finally, Versant Capital Management Inc boosted its position in shares of Essent Group by 790.6% during the second quarter. Versant Capital Management Inc now owns 757 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 672 shares in the last quarter. 93.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO David B. Weinstock sold 5,500 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $63.51, for a total value of $349,305.00. Following the sale, the chief financial officer directly owned 35,494 shares in the company, valued at $2,254,223.94. The trade was a 13.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Vijay Bhasin sold 483 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $70.00, for a total value of $33,810.00. Following the transaction, the senior vice president directly owned 198,449 shares of the company’s stock, valued at $13,891,430. This represents a 0.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 40,320 shares of company stock worth $2,625,422. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Roth Capital boosted their price target on shares of Essent Group from $65.00 to $80.00 and gave the company a “buy” rating in a report on Monday, August 10th. Royal Bank Of Canada raised their price objective on Essent Group from $68.00 to $75.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. JPMorgan Chase & Co. lifted their target price on Essent Group from $65.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Barclays boosted their target price on Essent Group from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded Essent Group from a “hold” rating to a “buy” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Essent Group has an average rating of “Hold” and an average price target of $71.86.

Essent Group Stock Down 0.3%

Essent Group stock opened at $69.34 on Tuesday. The company has a 50 day moving average of $64.21 and a 200-day moving average of $61.86. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.09. Essent Group Ltd. has a twelve month low of $55.34 and a twelve month high of $70.00. The stock has a market capitalization of $6.23 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 1.79 and a beta of 0.76.

Essent Group (NYSE:ESNT) last issued its quarterly earnings data on Tuesday, June 30th. The financial services provider reported $2.08 EPS for the quarter. Essent Group had a net margin of 51.45% and a return on equity of 11.91%. The business had revenue of $362.69 million for the quarter. On average, equities research analysts anticipate that Essent Group Ltd. will post 7.42 EPS for the current fiscal year.

Essent Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, August 31st. Essent Group’s dividend payout ratio is 19.53%.

About Essent Group

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.