Essent Group Ltd. (ESNT) Shares Sold by ProShare Advisors LLC
ProShare Advisors LLC cut its stake in Essent Group Ltd. (NYSE:ESNT) by 20.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,825 shares of the financial services provider’s stock after selling 1,776 shares during the period. ProShare Advisors LLC’s holdings in Essent Group were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. raised its stake in shares of Essent Group by 2.6% in the first quarter. Sei Investments Co. now owns 2,909 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 74 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of 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 worth $106,000 after acquiring an additional 360 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Essent Group by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 288 shares during the last quarter. US Bancorp DE raised its stake in shares of Essent Group by 4.6% in the first quarter. US Bancorp DE now owns 4,946 shares of the financial services provider’s stock worth $179,000 after acquiring an additional 218 shares during the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA bought a new position in shares of Essent Group in the second quarter worth about $201,000. 81.40% of the stock is owned by institutional investors.
In other Essent Group news, VP David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $38.91, for a total transaction of $77,820.00. Following the completion of the transaction, the vice president now owns 28,785 shares in the company, valued at approximately $1,120,024.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Lawrence E. Mcalee, Jr. sold 3,118 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $40.00, for a total transaction of $124,720.00. Following the transaction, the chief financial officer now owns 272,167 shares of the company’s stock, valued at approximately $10,886,680. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,918 shares of company stock valued at $832,670. 18.10% of the stock is owned by company insiders.
A number of equities analysts have weighed in on ESNT shares. Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Friday, September 8th. BidaskClub downgraded shares of Essent Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BTIG Research upgraded shares of Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, September 12th. Finally, Keefe, Bruyette & Woods set a $43.00 price target on shares of Essent Group and gave the stock a “hold” rating in a research report on Monday, August 7th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $44.75.
Essent Group (NYSE:ESNT) last issued its quarterly earnings data on Friday, August 4th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The business had revenue of $137.61 million during the quarter, compared to analyst estimates of $131.99 million. Essent Group had a net margin of 50.92% and a return on equity of 18.77%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the business earned $0.57 EPS.
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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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