Invesco Ltd. Sells 188,445 Shares of Essent Group Ltd. (NYSE:ESNT)

Invesco Ltd. lessened its position in shares of Essent Group Ltd. (NYSE:ESNT) by 9.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,706,432 shares of the financial services provider’s stock after selling 188,445 shares during the period. Invesco Ltd. owned 1.61% of Essent Group worth $92,898,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Mainstream Capital Management LLC bought a new position in shares of Essent Group in the 4th quarter worth about $25,000. Picton Mahoney Asset Management increased its holdings in Essent Group by 68.8% in the fourth quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 238 shares in the last quarter. US Bancorp DE lifted its stake in Essent Group by 53.3% in the fourth quarter. US Bancorp DE now owns 1,125 shares of the financial services provider’s stock valued at $61,000 after buying an additional 391 shares during the period. R Squared Ltd bought a new position in shares of Essent Group during the 4th quarter worth approximately $63,000. Finally, Parkside Financial Bank & Trust grew its position in shares of Essent Group by 8.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,363 shares of the financial services provider’s stock worth $129,000 after buying an additional 180 shares during the period. Institutional investors own 93.00% of the company’s stock.

Essent Group Stock Performance

Shares of ESNT opened at $54.96 on Monday. Essent Group Ltd. has a 52 week low of $51.61 and a 52 week high of $65.34. The stock has a 50 day moving average price of $56.27 and a two-hundred day moving average price of $57.26. The firm has a market capitalization of $5.71 billion, a P/E ratio of 8.03, a P/E/G ratio of 2.70 and a beta of 0.80.

Essent Group (NYSE:ESNT) last released its quarterly earnings results on Friday, February 14th. The financial services provider reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.09). Essent Group had a net margin of 58.69% and a return on equity of 13.35%. The company had revenue of $315.00 million during the quarter, compared to analysts’ expectations of $313.88 million. During the same period in the previous year, the company posted $1.64 earnings per share. 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 declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 14th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, March 14th. This is a boost from Essent Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 2.26%. Essent Group’s payout ratio is 18.13%.

Analyst Ratings Changes

Several research analysts recently issued reports on ESNT shares. Royal Bank of Canada reissued an “outperform” rating and set a $67.00 target price on shares of Essent Group in a research note on Tuesday, February 18th. Barclays downgraded Essent Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $69.00 to $58.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. raised Essent Group from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods reduced their price objective on Essent Group from $71.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.71.

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.