Essent Group Ltd. (NYSE:ESNT) Shares Sold by AlphaCrest Capital Management LLC

AlphaCrest Capital Management LLC trimmed its position in shares of Essent Group Ltd. (NYSE:ESNTGet Rating) by 29.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,812 shares of the financial services provider’s stock after selling 10,544 shares during the period. AlphaCrest Capital Management LLC’s holdings in Essent Group were worth $1,175,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ESNT. Dimensional Fund Advisors LP increased its position in shares of Essent Group by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,695,584 shares of the financial services provider’s stock worth $77,199,000 after acquiring an additional 113,260 shares during the period. Sandhill Capital Partners LLC purchased a new stake in shares of Essent Group during the fourth quarter worth $311,000. Shell Asset Management Co. increased its position in shares of Essent Group by 3.1% during the fourth quarter. Shell Asset Management Co. now owns 19,592 shares of the financial services provider’s stock worth $892,000 after acquiring an additional 582 shares during the period. Bank of America Corp DE increased its position in shares of Essent Group by 3.6% during the fourth quarter. Bank of America Corp DE now owns 395,844 shares of the financial services provider’s stock worth $18,023,000 after acquiring an additional 13,743 shares during the period. Finally, First Trust Advisors LP increased its holdings in Essent Group by 12.1% in the fourth quarter. First Trust Advisors LP now owns 128,829 shares of the financial services provider’s stock valued at $5,866,000 after buying an additional 13,861 shares during the last quarter. Institutional investors own 92.72% of the company’s stock.

Shares of ESNT stock opened at $40.67 on Friday. The stock’s 50-day moving average is $41.38 and its two-hundred day moving average is $44.04. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 5.48, a PEG ratio of 0.59 and a beta of 1.21. Essent Group Ltd. has a 1 year low of $39.26 and a 1 year high of $50.17.

Essent Group (NYSE:ESNTGet Rating) last announced its earnings results on Friday, May 6th. The financial services provider reported $2.52 earnings per share for the quarter, topping the consensus estimate of $1.46 by $1.06. Essent Group had a net margin of 78.25% and a return on equity of 19.64%. The business had revenue of $264.60 million during the quarter, compared to the consensus estimate of $240.09 million. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts forecast that Essent Group Ltd. will post 7.49 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Wednesday, June 1st will be paid a dividend of $0.21 per share. This is an increase from Essent Group’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.07%. Essent Group’s dividend payout ratio is 10.78%.

ESNT has been the topic of several recent analyst reports. BTIG Research dropped their target price on Essent Group from $58.00 to $55.00 in a report on Tuesday, April 12th. JPMorgan Chase & Co. raised Essent Group from a “neutral” rating to an “overweight” rating and set a $47.00 target price on the stock in a report on Monday, April 11th. StockNews.com initiated coverage on Essent Group in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Zacks Investment Research lowered Essent Group from a “buy” rating to a “sell” rating in a report on Tuesday, April 19th. Finally, The Goldman Sachs Group dropped their target price on Essent Group from $55.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, April 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $54.63.

In other Essent Group news, Director Robert Glanville bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 9th. The stock was acquired at an average price of $40.71 per share, for a total transaction of $40,710.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

About Essent Group (Get Rating)

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.

See Also

Institutional Ownership by Quarter for Essent Group (NYSE:ESNT)

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