Hsbc Holdings PLC cut its stake in Essent Group Ltd (NYSE:ESNT) by 36.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,581 shares of the financial services provider’s stock after selling 89,524 shares during the period. Hsbc Holdings PLC owned about 0.16% of Essent Group worth $6,929,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ESNT. Rehmann Capital Advisory Group purchased a new position in Essent Group in the second quarter valued at $202,000. Telemus Capital LLC purchased a new position in Essent Group in the third quarter valued at $208,000. Regal Investment Advisors LLC purchased a new position in Essent Group in the third quarter valued at $244,000. Signition LP purchased a new position in Essent Group in the third quarter valued at $268,000. Finally, GHP Investment Advisors Inc. purchased a new position in Essent Group in the third quarter valued at $277,000. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Essent Group stock opened at $36.73 on Friday. Essent Group Ltd has a 1-year low of $32.73 and a 1-year high of $50.08. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 0.79 and a beta of 1.29.

Essent Group (NYSE:ESNT) last posted its quarterly earnings results on Friday, November 9th. The financial services provider reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.06. Essent Group had a return on equity of 20.18% and a net margin of 72.96%. The company had revenue of $185.00 million for the quarter, compared to analysts’ expectations of $181.40 million. During the same period last year, the firm earned $0.82 earnings per share. Essent Group’s quarterly revenue was up 23.2% on a year-over-year basis. Equities research analysts predict that Essent Group Ltd will post 4.61 EPS for the current year.

In other news, SVP Vijay Bhasin sold 27,869 shares of Essent Group stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $44.64, for a total transaction of $1,244,072.16. Following the sale, the senior vice president now owns 278,515 shares in the company, valued at $12,432,909.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David B. Weinstock sold 2,000 shares of Essent Group stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $45.51, for a total value of $91,020.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,468 shares of company stock worth $3,941,196. 3.00% of the stock is owned by insiders.

ESNT has been the subject of a number of recent research reports. Barclays lifted their target price on Essent Group from $51.00 to $53.00 and gave the company a “buy” rating in a report on Monday, November 12th. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Thursday, October 25th. ValuEngine upgraded Essent Group from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Finally, JPMorgan Chase & Co. raised their price target on Essent Group from $42.50 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $50.43.

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Essent Group Company Profile

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.

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

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