Essent Group Ltd. (ESNT) Shares Sold by RS Investment Management Co. LLC
RS Investment Management Co. LLC reduced its position in Essent Group Ltd. (NYSE:ESNT) by 21.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,109,600 shares of the company’s stock after selling 580,112 shares during the period. RS Investment Management Co. LLC’s holdings in Essent Group were worth $46,010,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in ESNT. Old Mutual Global Investors UK Ltd. raised its position in Essent Group by 1.3% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 269,284 shares of the company’s stock worth $5,873,000 after buying an additional 3,539 shares during the last quarter. Nordea Investment Management AB raised its position in Essent Group by 243.3% in the second quarter. Nordea Investment Management AB now owns 27,609 shares of the company’s stock worth $602,000 after buying an additional 19,567 shares during the last quarter. Barclays PLC raised its position in Essent Group by 646.5% in the first quarter. Barclays PLC now owns 64,200 shares of the company’s stock worth $1,284,000 after buying an additional 55,600 shares during the last quarter. Clark Capital Management Group Inc. raised its position in Essent Group by 69.6% in the first quarter. Clark Capital Management Group Inc. now owns 153,067 shares of the company’s stock worth $3,184,000 after buying an additional 62,804 shares during the last quarter. Finally, Harvest Capital Strategies LLC raised its position in Essent Group by 98.9% in the first quarter. Harvest Capital Strategies LLC now owns 49,075 shares of the company’s stock worth $1,020,000 after buying an additional 24,400 shares during the last quarter. 85.92% of the stock is owned by institutional investors and hedge funds.
Shares of Essent Group Ltd. (NYSE:ESNT) traded up 0.15% during midday trading on Wednesday, reaching $27.23. The company’s stock had a trading volume of 561,217 shares. The company’s 50-day moving average price is $26.34 and its 200-day moving average price is $22.51. Essent Group Ltd. has a 12 month low of $16.49 and a 12 month high of $28.62. The company has a market cap of $2.54 billion, a PE ratio of 13.48 and a beta of 1.09.
Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.53 by $0.04. The firm earned $108.50 million during the quarter, compared to analyst estimates of $105.30 million. Essent Group had a return on equity of 15.98% and a net margin of 46.40%. Essent Group’s revenue was up 28.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS. On average, equities analysts anticipate that Essent Group Ltd. will post $2.27 EPS for the current fiscal year.
A number of equities analysts have recently commented on ESNT shares. Zacks Investment Research raised Essent Group from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Friday, August 5th. Barclays PLC set a $30.00 price objective on Essent Group and gave the company a “buy” rating in a research note on Saturday. TheStreet raised Essent Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 14th. Credit Suisse Group AG reissued a “hold” rating on shares of Essent Group in a research note on Monday, August 8th. Finally, Keefe, Bruyette & Woods lowered Essent Group from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $26.00 to $26.50 in a research note on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $27.05.
In other news, SVP Jeff Cashmer sold 24,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $26.15, for a total value of $627,600.00. Following the completion of the sale, the senior vice president now directly owns 158,753 shares in the company, valued at approximately $4,151,390.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Turnbull acquired 36,353 shares of Essent Group stock in a transaction dated Wednesday, July 6th. The stock was bought at an average price of $21.33 per share, with a total value of $775,409.49. Following the completion of the purchase, the director now directly owns 49,864 shares in the company, valued at $1,063,599.12. The disclosure for this purchase can be found here. 20.70% of the stock is owned by insiders.
Essent Group Company Profile
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in serving the United States housing finance industry. It offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The primary mortgage insurance operations are conducted through Essent Guaranty, Inc (Essent Guaranty), a subsidiary of the company, which maintains operations centers and operates additional underwriting and service centers in Winston-Salem, North Carolina and Irvine, California.
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