Bessemer Group Inc. increased its position in Essent Group Ltd. (NYSE:ESNT) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 66,100 shares of the financial services provider’s stock after buying an additional 500 shares during the period. Bessemer Group Inc.’s holdings in Essent Group were worth $2,455,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of ESNT. James Investment Research Inc. acquired a new stake in shares of Essent Group during the first quarter worth $144,000. Evanson Asset Management LLC acquired a new stake in shares of Essent Group during the first quarter worth $215,000. Bank of America Corp DE increased its stake in shares of Essent Group by 8.0% in the first quarter. Bank of America Corp DE now owns 378,798 shares of the financial services provider’s stock worth $13,701,000 after buying an additional 27,952 shares during the last quarter. Cim LLC increased its stake in shares of Essent Group by 2.9% in the first quarter. Cim LLC now owns 17,110 shares of the financial services provider’s stock worth $619,000 after buying an additional 480 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Essent Group by 4.6% in the first quarter. US Bancorp DE now owns 4,946 shares of the financial services provider’s stock worth $179,000 after buying an additional 218 shares during the last quarter. Institutional investors and hedge funds own 86.12% of the company’s stock.
Shares of Essent Group Ltd. (NYSE ESNT) opened at 39.04 on Thursday. Essent Group Ltd. has a 52 week low of $25.54 and a 52 week high of $41.44. The firm has a market cap of $3.65 billion, a PE ratio of 14.96 and a beta of 1.14. The firm has a 50-day moving average price of $38.17 and a 200-day moving average price of $36.61.
Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Friday, August 4th. The financial services provider reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.09. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. The company had revenue of $137.61 million during the quarter, compared to analyst estimates of $131.99 million. During the same quarter last year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities research analysts predict that Essent Group Ltd. will post $3.08 earnings per share for the current year.
ESNT has been the subject of a number of research analyst reports. Bank of America Corporation upgraded Essent Group from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $43.00 in a report on Tuesday, May 9th. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Monday, July 10th. Deutsche Bank AG lifted their target price on Essent Group from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays PLC reiterated a “buy” rating on shares of Essent Group in a report on Wednesday. Finally, BidaskClub downgraded Essent Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Essent Group has an average rating of “Buy” and an average target price of $43.50.
In related news, SVP Mary Lourdes Gibbons sold 4,207 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $39.00, for a total transaction of $164,073.00. Following the completion of the transaction, the senior vice president now owns 275,495 shares of the company’s stock, valued at approximately $10,744,305. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $38.51, for a total value of $77,020.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,918 shares of company stock valued at $1,166,960. 18.10% of the stock is owned by corporate insiders.
Essent Group Company Profile
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance.
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