Pictet Asset Management Holding SA Sells 1,025 Shares of Essent Group Ltd. (NYSE:ESNT)

Pictet Asset Management Holding SA lessened its position in shares of Essent Group Ltd. (NYSE:ESNT) by 0.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 534,892 shares of the financial services provider’s stock after selling 1,025 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.50% of Essent Group worth $29,120,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ESNT. Mainstream Capital Management LLC bought a new stake in shares of Essent Group during the 4th quarter valued at about $25,000. Picton Mahoney Asset Management boosted its holdings in shares of Essent Group by 68.8% during the 4th quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider’s stock worth $32,000 after buying an additional 238 shares in the last quarter. US Bancorp DE grew its position in shares of Essent Group by 53.3% during the 4th quarter. US Bancorp DE now owns 1,125 shares of the financial services provider’s stock worth $61,000 after buying an additional 391 shares during the period. R Squared Ltd acquired a new stake in shares of Essent Group during the 4th quarter worth approximately $63,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Essent Group by 53.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 477 shares in the last quarter. Institutional investors own 93.00% of the company’s stock.

Analyst Ratings Changes

ESNT has been the subject of a number of research reports. Royal Bank of Canada restated an “outperform” rating and issued a $67.00 price target on shares of Essent Group in a report on Tuesday, February 18th. Keefe, Bruyette & Woods reduced their target price on Essent Group from $72.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. Barclays lowered Essent Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $69.00 to $58.00 in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their price objective on Essent Group from $67.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $62.57.

Essent Group Stock Performance

Shares of ESNT opened at $57.34 on Monday. The firm has a market capitalization of $5.95 billion, a P/E ratio of 8.38, a P/E/G ratio of 2.70 and a beta of 1.09. Essent Group Ltd. has a 52 week low of $52.22 and a 52 week high of $65.34. The stock has a 50 day moving average price of $56.93 and a two-hundred day moving average price of $57.91.

Essent Group (NYSE:ESNT) last announced its quarterly earnings results on Friday, February 14th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.09). Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The company had revenue of $315.00 million for the quarter, compared to the consensus estimate of $313.88 million. During the same quarter last year, the company posted $1.64 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities 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 announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 14th were issued a $0.31 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 2.16%. This is an increase from Essent Group’s previous quarterly dividend of $0.28. Essent Group’s dividend payout ratio is currently 18.13%.

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.