Essent Group Ltd. (ESNT) Shares Sold by Dupont Capital Management Corp
Dupont Capital Management Corp decreased its stake in Essent Group Ltd. (NYSE:ESNT) by 9.8% during the second quarter, Holdings Channel reports. The institutional investor owned 199,176 shares of the financial services provider’s stock after selling 21,674 shares during the period. Dupont Capital Management Corp’s holdings in Essent Group were worth $7,397,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in Essent Group by 2.6% in the first quarter. Sei Investments Co. now owns 2,909 shares of the financial services provider’s stock valued at $105,000 after buying an additional 74 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Essent Group by 14.0% in the first quarter. BNP Paribas Arbitrage SA now owns 2,924 shares of the financial services provider’s stock valued at $106,000 after buying an additional 360 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Essent Group during the first quarter valued at about $120,000. James Investment Research Inc. acquired a new stake in Essent Group during the first quarter valued at about $144,000. Finally, Quantbot Technologies LP boosted its stake in Essent Group by 186.3% in the first quarter. Quantbot Technologies LP now owns 4,203 shares of the financial services provider’s stock valued at $152,000 after buying an additional 2,735 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.
Essent Group Ltd. (NYSE ESNT) opened at 38.98 on Tuesday. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 13.87 and a beta of 1.14. The company’s 50-day moving average price is $38.36 and its 200-day moving average price is $36.73. Essent Group Ltd. has a 52 week low of $25.67 and a 52 week high of $41.44.
Essent Group (NYSE:ESNT) last announced its quarterly earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $131.99 million. During the same quarter in the previous year, the business earned $0.57 EPS. Essent Group’s revenue for the quarter was up 27.2% compared to the same quarter last year. Equities analysts forecast that Essent Group Ltd. will post $3.08 earnings per share for the current fiscal year.
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Several analysts recently issued reports on ESNT shares. Bank of America Corporation upgraded Essent Group from an “underperform” rating to a “buy” rating and increased their target price for the stock from $38.00 to $43.00 in a research report on Tuesday, May 9th. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Monday, July 10th. Deutsche Bank AG increased their target price on Essent Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Barclays PLC reiterated a “buy” rating on shares of Essent Group in a research report on Wednesday, August 9th. Finally, BidaskClub cut Essent Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. 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 issued a strong buy rating to the company’s stock. Essent Group has a consensus rating of “Buy” and an average price target of $43.50.
In other Essent Group news, CFO Lawrence E. Mcalee, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $39.02, for a total transaction of $78,040.00. Following the completion of the sale, the chief financial officer now directly owns 275,285 shares in the company, valued at approximately $10,741,620.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Lawrence E. Mcalee, Jr. sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $36.99, for a total value of $258,930.00. Following the sale, the chief financial officer now owns 279,285 shares of the company’s stock, valued at $10,330,752.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,918 shares of company stock valued at $1,166,960. 18.10% of the stock is owned by company insiders.
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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