Mutual of America Capital Management LLC Sells 2,077 Shares of Essent Group Ltd. (NYSE:ESNT)

Mutual of America Capital Management LLC decreased its stake in shares of Essent Group Ltd. (NYSE:ESNT) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 220,200 shares of the financial services provider’s stock after selling 2,077 shares during the period. Mutual of America Capital Management LLC owned approximately 0.21% of Essent Group worth $11,988,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Harbor Capital Advisors Inc. purchased a new position in shares of Essent Group during the third quarter valued at approximately $32,000. R Squared Ltd bought a new stake in Essent Group during the fourth quarter valued at approximately $63,000. Advisors Asset Management Inc. grew its position in Essent Group by 53.9% during the third quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider’s stock valued at $88,000 after buying an additional 477 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Essent Group by 8.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,363 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 180 shares during the period. Finally, Centaurus Financial Inc. bought a new position in shares of Essent Group in the third quarter worth approximately $130,000. Institutional investors own 93.00% of the company’s stock.

Essent Group Trading Up 0.4 %

Shares of ESNT opened at $57.58 on Friday. The firm has a market cap of $5.98 billion, a P/E ratio of 8.42, a price-to-earnings-growth ratio of 2.70 and a beta of 1.11. Essent Group Ltd. has a 12-month low of $52.22 and a 12-month high of $65.33. The company’s 50-day moving average price is $56.53 and its 200 day moving average price is $58.85.

Essent Group (NYSE:ESNT) last issued its quarterly earnings results on Friday, February 14th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.09). Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The business had revenue of $315.00 million for the quarter, compared to analysts’ expectations of $313.88 million. During the same quarter last year, the company earned $1.64 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts forecast that Essent Group Ltd. will post 6.88 earnings per share for the current year.

Essent Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 14th will be issued a $0.31 dividend. This is an increase from Essent Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, March 14th. Essent Group’s dividend payout ratio is presently 18.13%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ESNT. Barclays downgraded shares of Essent Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $69.00 to $58.00 in a research note on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $67.00 target price on shares of Essent Group in a report on Tuesday, February 18th. The Goldman Sachs Group dropped their target price on shares of Essent Group from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. lowered their price target on shares of Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Essent Group from $72.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.57.

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.