Susquehanna Fundamental Investments LLC Takes Position in Essent Group Ltd. (NYSE:ESNT)

Susquehanna Fundamental Investments LLC bought a new position in Essent Group Ltd. (NYSE:ESNT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 93,923 shares of the financial services provider’s stock, valued at approximately $5,113,000. Susquehanna Fundamental Investments LLC owned about 0.09% of Essent Group as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new position in Essent Group during the fourth quarter valued at $25,000. Picton Mahoney Asset Management boosted its holdings in Essent Group by 68.8% in 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 during the period. US Bancorp DE raised its holdings in Essent Group by 53.3% during the fourth quarter. US Bancorp DE now owns 1,125 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 391 shares during the period. R Squared Ltd bought a new position in Essent Group in the 4th quarter worth approximately $63,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of Essent Group by 8.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,363 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 180 shares during the last quarter. 93.00% of the stock is currently owned by hedge funds and other institutional investors.

Essent Group Price Performance

ESNT stock opened at $55.98 on Tuesday. The business has a 50-day moving average price of $55.79 and a 200 day moving average price of $56.63. The company has a market capitalization of $5.81 billion, a P/E ratio of 8.18, a PEG ratio of 2.70 and a beta of 0.80. Essent Group Ltd. has a 1-year low of $51.61 and a 1-year high of $65.34.

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

Essent Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 14th were paid a dividend of $0.31 per share. This is a positive change from Essent Group’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 2.22%. Essent Group’s dividend payout ratio is presently 18.13%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ESNT shares. Keefe, Bruyette & Woods decreased their price objective on Essent Group from $71.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Barclays lowered shares of Essent Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $69.00 to $58.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Essent Group from a “neutral” rating to an “overweight” rating and set a $60.00 target price for the company in a report on Tuesday, April 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $67.00 price target on shares of Essent Group in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.