Vest Financial LLC Decreases Holdings in Essent Group Ltd. $ESNT

Vest Financial LLC trimmed its holdings in shares of Essent Group Ltd. (NYSE:ESNT) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,226 shares of the financial services provider’s stock after selling 2,681 shares during the period. Vest Financial LLC’s holdings in Essent Group were worth $3,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Essent Group by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,399,228 shares of the financial services provider’s stock worth $311,638,000 after purchasing an additional 230,553 shares during the period. Victory Capital Management Inc. boosted its position in Essent Group by 1,272.6% in the 1st quarter. Victory Capital Management Inc. now owns 970,969 shares of the financial services provider’s stock valued at $56,044,000 after buying an additional 900,229 shares during the last quarter. AQR Capital Management LLC boosted its position in Essent Group by 64.2% in the 1st quarter. AQR Capital Management LLC now owns 848,282 shares of the financial services provider’s stock valued at $48,581,000 after buying an additional 331,535 shares during the last quarter. Wellington Management Group LLP purchased a new position in Essent Group in the 1st quarter valued at about $41,084,000. Finally, Millennium Management LLC boosted its position in Essent Group by 670.5% in the 1st quarter. Millennium Management LLC now owns 663,332 shares of the financial services provider’s stock valued at $38,288,000 after buying an additional 577,245 shares during the last quarter. 93.00% of the stock is owned by hedge funds and other institutional investors.

Essent Group Price Performance

Shares of NYSE:ESNT opened at $60.70 on Wednesday. The firm’s 50 day moving average is $62.40 and its two-hundred day moving average is $59.21. Essent Group Ltd. has a 52 week low of $51.61 and a 52 week high of $65.90. The firm has a market capitalization of $5.98 billion, a P/E ratio of 8.86, a PEG ratio of 2.57 and a beta of 0.88. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.09.

Essent Group (NYSE:ESNT) last announced its quarterly earnings results on Friday, August 8th. The financial services provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.68 by $0.25. Essent Group had a net margin of 56.36% and a return on equity of 12.66%. The company had revenue of $319.14 million for the quarter, compared to analyst estimates of $317.46 million. During the same quarter last year, the business earned $1.91 earnings per share. Essent Group’s revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that Essent Group Ltd. will post 6.88 earnings per share for the current year.

Essent Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th were paid a $0.31 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.24 annualized dividend and a dividend yield of 2.0%. Essent Group’s dividend payout ratio (DPR) is presently 18.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ESNT shares. Compass Point restated a “buy” rating on shares of Essent Group in a research note on Friday, August 8th. The Goldman Sachs Group set a $60.00 target price on shares of Essent Group and gave the company a “neutral” rating in a research note on Friday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Essent Group in a research note on Wednesday, October 8th. Royal Bank Of Canada restated an “outperform” rating on shares of Essent Group in a research note on Friday, August 8th. Finally, DOWLING & PARTN lowered shares of Essent Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Essent Group presently has an average rating of “Hold” and an average price target of $65.67.

Insider Activity

In other Essent Group news, CFO David B. Weinstock sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $63.33, for a total value of $158,325.00. Following the sale, the chief financial officer owned 24,865 shares in the company, valued at approximately $1,574,700.45. This trade represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mary Lourdes Gibbons sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $65.00, for a total transaction of $260,000.00. Following the completion of the sale, the senior vice president owned 243,023 shares in the company, valued at $15,796,495. The trade was a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,190 shares of company stock worth $1,802,316 over the last ninety days. 3.40% of the stock is owned by company insiders.

Essent Group Company 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.