FIL Ltd lessened its position in Essent Group Ltd (NYSE:ESNT) by 32.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 169,011 shares of the financial services provider’s stock after selling 79,823 shares during the quarter. FIL Ltd’s holdings in Essent Group were worth $7,344,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. Sheets Smith Wealth Management acquired a new position in Essent Group during the 1st quarter worth $467,000. Private Advisor Group LLC acquired a new position in shares of Essent Group during the 1st quarter worth about $874,000. State of Wisconsin Investment Board boosted its position in shares of Essent Group by 29.7% during the 1st quarter. State of Wisconsin Investment Board now owns 307,300 shares of the financial services provider’s stock worth $13,352,000 after acquiring an additional 70,300 shares in the last quarter. GAM Holding AG boosted its position in shares of Essent Group by 32.6% during the 1st quarter. GAM Holding AG now owns 20,036 shares of the financial services provider’s stock worth $871,000 after acquiring an additional 4,931 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its position in shares of Essent Group by 112.8% during the 1st quarter. Federated Investors Inc. PA now owns 216,838 shares of the financial services provider’s stock worth $9,421,000 after acquiring an additional 114,953 shares in the last quarter. Hedge funds and other institutional investors own 90.13% of the company’s stock.
Separately, Zacks Investment Research raised Essent Group from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $49.60.
Essent Group (NYSE:ESNT) last released its quarterly earnings data on Friday, May 3rd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The business had revenue of $200.53 million during the quarter, compared to analysts’ expectations of $196.94 million. Essent Group had a return on equity of 21.36% and a net margin of 64.33%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 EPS. Equities research analysts predict that Essent Group Ltd will post 5.3 earnings per share for the current year.
In related news, SVP Jeff Cashmer sold 25,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $45.56, for a total value of $1,139,000.00. Following the completion of the sale, the senior vice president now directly owns 107,056 shares of the company’s stock, valued at approximately $4,877,471.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Vijay Bhasin sold 45,315 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $44.50, for a total value of $2,016,517.50. Following the completion of the sale, the senior vice president now directly owns 194,302 shares of the company’s stock, valued at $8,646,439. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,278 shares of company stock valued at $4,129,867. Insiders own 2.90% of the company’s stock.
Essent Group Company Profile
Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.
Further Reading: Cost of Equity For A Business, Investors
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