MANA Advisors LLC purchased a new stake in Essent Group Ltd (NYSE:ESNT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,435 shares of the financial services provider’s stock, valued at approximately $279,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. New Vernon Investment Management LLC increased its position in Essent Group by 18.5% in the 4th quarter. New Vernon Investment Management LLC now owns 68,250 shares of the financial services provider’s stock valued at $2,963,000 after acquiring an additional 10,645 shares during the period. AXA increased its position in Essent Group by 305.8% in the 4th quarter. AXA now owns 34,900 shares of the financial services provider’s stock valued at $1,515,000 after acquiring an additional 26,300 shares during the period. Investec Asset Management LTD increased its position in Essent Group by 42.3% in the 4th quarter. Investec Asset Management LTD now owns 603,856 shares of the financial services provider’s stock valued at $26,219,000 after acquiring an additional 179,480 shares during the period. Adams Diversified Equity Fund Inc. acquired a new stake in shares of Essent Group during the fourth quarter worth $808,000. Finally, Buckingham Asset Management LLC increased its position in shares of Essent Group by 34.9% during the fourth quarter. Buckingham Asset Management LLC now owns 21,429 shares of the financial services provider’s stock worth $930,000 after buying an additional 5,545 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.
Several research firms have recently weighed in on ESNT. Royal Bank of Canada began coverage on shares of Essent Group in a research report on Wednesday, December 20th. They set an “outperform” rating and a $54.00 price objective for the company. BTIG Research increased their price objective on shares of Essent Group from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Monday, December 25th. ValuEngine cut shares of Essent Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Deutsche Bank upgraded shares of Essent Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $61.00 in a research report on Monday, January 8th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $52.52.
Essent Group Ltd (ESNT) opened at $42.99 on Tuesday. The stock has a market cap of $4,675.18, a price-to-earnings ratio of 10.86, a P/E/G ratio of 0.98 and a beta of 1.14. Essent Group Ltd has a 12 month low of $33.45 and a 12 month high of $50.08.
Essent Group (NYSE:ESNT) last issued its earnings results on Friday, February 9th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The business had revenue of $161.77 million for the quarter, compared to analyst estimates of $155.22 million. Essent Group had a net margin of 65.87% and a return on equity of 17.77%. Essent Group’s revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. equities analysts anticipate that Essent Group Ltd will post 4.42 EPS for the current fiscal year.
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Essent Group 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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