University of Texas Texas AM Investment Management Co. Buys 11,397 Shares of Essent Group Ltd. (NYSE:ESNT)

University of Texas Texas AM Investment Management Co. grew its stake in Essent Group Ltd. (NYSE:ESNT) by 39.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,453 shares of the financial services provider’s stock after buying an additional 11,397 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in Essent Group were worth $2,202,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ESNT. Barclays PLC increased its position in Essent Group by 154.7% during the third quarter. Barclays PLC now owns 208,927 shares of the financial services provider’s stock worth $13,431,000 after acquiring an additional 126,899 shares during the period. Charles Schwab Investment Management Inc. grew its position in Essent Group by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,532 shares of the financial services provider’s stock worth $85,500,000 after buying an additional 19,387 shares in the last quarter. Interval Partners LP increased its stake in Essent Group by 17.9% during the fourth quarter. Interval Partners LP now owns 221,710 shares of the financial services provider’s stock valued at $12,070,000 after acquiring an additional 33,698 shares during the period. KBC Group NV increased its stake in Essent Group by 39.8% during the fourth quarter. KBC Group NV now owns 4,207 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 1,198 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Essent Group by 5.5% in the 4th quarter. AQR Capital Management LLC now owns 516,747 shares of the financial services provider’s stock valued at $28,132,000 after acquiring an additional 27,077 shares in the last quarter. Institutional investors own 93.00% of the company’s stock.

Essent Group Stock Performance

Shares of NYSE:ESNT opened at $57.80 on Friday. Essent Group Ltd. has a twelve month low of $51.61 and a twelve month high of $65.34. The firm has a market cap of $5.86 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 2.70 and a beta of 0.87. The business has a fifty day moving average of $56.69 and a 200-day moving average of $56.34.

Essent Group (NYSE:ESNT) last issued its quarterly earnings data on Friday, May 9th. The financial services provider reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. Essent Group had a net margin of 58.69% and a return on equity of 13.35%. The firm had revenue of $317.56 million for the quarter, compared to analyst estimates of $311.18 million. During the same quarter in the prior year, the firm earned $1.70 EPS. The company’s revenue was up 6.4% on a year-over-year basis. On average, analysts anticipate that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.

Essent Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 30th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, May 30th. Essent Group’s dividend payout ratio (DPR) is presently 18.16%.

Insiders Place Their Bets

In other Essent Group news, Director Douglas J. Pauls sold 3,000 shares of Essent Group stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $59.80, for a total transaction of $179,400.00. Following the completion of the sale, the director now owns 27,165 shares of the company’s stock, valued at approximately $1,624,467. The trade was a 9.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mary Lourdes Gibbons sold 1,777 shares of the company’s stock in a transaction on Monday, May 12th. The shares were 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 of the company’s stock, valued at $15,199,031.54. The trade was a 0.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,001 shares of company stock valued at $299,591. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on ESNT shares. Royal Bank of Canada reissued an “outperform” rating on shares of Essent Group in a report on Friday, May 9th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Essent Group in a report on Friday, May 9th. BTIG Research restated a “buy” rating on shares of Essent Group in a research report on Friday, May 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Essent Group in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. upgraded shares of Essent Group from a “neutral” rating to an “overweight” rating and set a $60.00 target price on the stock in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.33.

About Essent Group

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.