Intech Investment Management LLC Purchases 14,300 Shares of Essent Group Ltd. (NYSE:ESNT)

Intech Investment Management LLC grew its position in Essent Group Ltd. (NYSE:ESNT) by 112.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,064 shares of the financial services provider’s stock after buying an additional 14,300 shares during the period. Intech Investment Management LLC’s holdings in Essent Group were worth $1,740,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ESNT. Diversified Trust Co acquired a new stake in Essent Group in the second quarter valued at approximately $725,000. Price T Rowe Associates Inc. MD increased its position in Essent Group by 38.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 177,127 shares of the financial services provider’s stock valued at $10,542,000 after buying an additional 49,393 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Essent Group by 10.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,680,074 shares of the financial services provider’s stock valued at $262,973,000 after buying an additional 445,853 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Essent Group by 147.5% in the second quarter. SG Americas Securities LLC now owns 33,597 shares of the financial services provider’s stock worth $1,888,000 after acquiring an additional 20,023 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Essent Group during the second quarter worth about $605,000. Hedge funds and other institutional investors own 93.00% of the company’s stock.

Insider Activity at Essent Group

In related news, CFO David B. Weinstock sold 2,000 shares of Essent Group stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total value of $127,180.00. Following the sale, the chief financial officer now owns 25,416 shares of the company’s stock, valued at approximately $1,616,203.44. This trade represents a 7.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ESNT shares. The Goldman Sachs Group decreased their price objective on shares of Essent Group from $68.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Barclays dropped their price objective on shares of Essent Group from $72.00 to $69.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. BTIG Research raised their target price on Essent Group from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. dropped their price target on Essent Group from $68.00 to $67.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Royal Bank of Canada reduced their price objective on Essent Group from $73.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Essent Group Stock Up 2.4 %

Essent Group stock opened at $58.12 on Tuesday. Essent Group Ltd. has a 52 week low of $47.56 and a 52 week high of $65.33. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 8.42, a price-to-earnings-growth ratio of 2.65 and a beta of 1.12. The business’s 50-day moving average price is $60.56 and its 200 day moving average price is $59.52.

Essent Group (NYSE:ESNT) last posted its earnings results on Friday, November 1st. The financial services provider reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.08). Essent Group had a net margin of 60.15% and a return on equity of 13.81%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $316.80 million. During the same period last year, the firm earned $1.66 earnings per share. Essent Group’s revenue for the quarter was up 969.2% compared to the same quarter last year. Equities analysts expect that Essent Group Ltd. will post 6.95 EPS for the current year.

Essent Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Monday, December 2nd. Essent Group’s dividend payout ratio (DPR) is presently 16.23%.

Essent Group Profile

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its mortgage insurance products include primary, pool, and master policy. The company also provides information technology maintenance and development services; customer support-related services; underwriting consulting; and contract underwriting services, as well as risk management products and title insurance and settlement services.