Prana Capital Management LP bought a new stake in shares of Essent Group Ltd. (NYSE:ESNT – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 105,393 shares of the financial services provider’s stock, valued at approximately $5,738,000. Prana Capital Management LP owned 0.10% of Essent Group as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of ESNT. Mainstream Capital Management LLC purchased a new stake in Essent Group in the 4th quarter worth about $25,000. Picton Mahoney Asset Management grew its position in Essent Group by 68.8% during the fourth quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 238 shares in the last quarter. US Bancorp DE increased its stake in Essent Group by 53.3% in the 4th 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 purchased a new stake in Essent Group in the 4th quarter worth approximately $63,000. Finally, Parkside Financial Bank & Trust grew its holdings 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 valued at $129,000 after acquiring an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 93.00% of the company’s stock.
Essent Group Price Performance
ESNT opened at $58.62 on Thursday. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 2.70 and a beta of 0.87. The business’s 50-day moving average price is $56.20 and its two-hundred day moving average price is $56.33. Essent Group Ltd. has a 1 year low of $51.61 and a 1 year high of $65.34.
Essent Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 30th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, May 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.12%. Essent Group’s payout ratio is presently 18.16%.
Insider Buying and Selling
In related news, SVP Mary Lourdes Gibbons sold 1,777 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $60.07, for a total transaction of $106,744.39. Following the sale, the senior vice president now owns 253,022 shares in the company, valued at $15,199,031.54. The trade was a 0.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Douglas J. Pauls sold 3,000 shares of Essent Group stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $59.80, for a total value of $179,400.00. Following the sale, the director now directly owns 27,165 shares in the company, valued at $1,624,467. The trade was a 9.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,001 shares of company stock valued at $299,591 over the last 90 days. 2.90% of the stock is owned by corporate insiders.
Analyst Ratings Changes
ESNT has been the subject of a number of research reports. Royal Bank of Canada reissued an “outperform” rating on shares of Essent Group in a research report on Friday, May 9th. The Goldman Sachs Group restated a “neutral” rating on shares of Essent Group in a report on Friday, May 9th. 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 research note on Tuesday, April 8th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Essent Group in a research note on Friday, May 9th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Essent Group in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.71.
Read Our Latest Research Report on ESNT
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.
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