ClariVest Asset Management LLC Lowers Stake in Essent Group Ltd. (ESNT)
ClariVest Asset Management LLC lowered its stake in Essent Group Ltd. (NYSE:ESNT) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 53,561 shares of the financial services provider’s stock after selling 36 shares during the period. ClariVest Asset Management LLC’s holdings in Essent Group were worth $1,990,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new position in shares of Essent Group during the fourth quarter valued at about $10,106,000. James Investment Research Inc. bought a new position in shares of Essent Group during the first quarter valued at about $144,000. Nationwide Fund Advisors increased its position in shares of Essent Group by 31.0% in the first quarter. Nationwide Fund Advisors now owns 142,902 shares of the financial services provider’s stock valued at $5,169,000 after buying an additional 33,816 shares during the period. IFC Holdings Incorporated FL increased its position in shares of Essent Group by 34.6% in the first quarter. IFC Holdings Incorporated FL now owns 17,403 shares of the financial services provider’s stock valued at $630,000 after buying an additional 4,475 shares during the period. Finally, Breton Hill Capital Ltd. bought a new position in shares of Essent Group during the first quarter valued at about $1,026,000. Institutional investors and hedge funds own 85.81% of the company’s stock.
Essent Group Ltd. (ESNT) opened at 38.42 on Friday. Essent Group Ltd. has a 12 month low of $25.68 and a 12 month high of $41.44. The firm has a market cap of $3.59 billion, a P/E ratio of 13.67 and a beta of 1.14. The company’s 50-day moving average is $38.58 and its 200 day moving average is $36.79.
Essent Group (NYSE:ESNT) last released its earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.09. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. The firm had revenue of $137.61 million for the quarter, compared to analysts’ expectations of $131.99 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. Equities research analysts expect that Essent Group Ltd. will post $3.08 EPS for the current fiscal year.
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Several research analysts recently issued reports on ESNT shares. J P Morgan Chase & Co downgraded shares of Essent Group from an “overweight” rating to a “neutral” rating and set a $39.00 price target on the stock. in a research report on Friday, April 21st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $40.00 price target on shares of Essent Group in a research report on Friday, April 28th. Barclays PLC upped their price target on shares of Essent Group from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, May 8th. Bank of America Corporation upgraded shares of Essent Group from an “underperform” rating to a “buy” rating and upped their price target for the stock from $38.00 to $43.00 in a research report on Tuesday, May 9th. Finally, Zacks Investment Research downgraded shares of Essent Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $43.50.
In other news, VP David B. Weinstock sold 2,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $38.95, for a total transaction of $77,900.00. Following the sale, the vice president now directly owns 30,785 shares in the company, valued at $1,199,075.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mary Lourdes Gibbons sold 4,600 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $41.04, for a total value of $188,784.00. Following the sale, the senior vice president now owns 262,902 shares in the company, valued at $10,789,498.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,918 shares of company stock worth $1,244,860. Company insiders own 18.10% of the company’s stock.
Essent Group Company Profile
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance.
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