Copper Rock Capital Partners LLC Invests $33,572,000 in Essent Group Ltd. (ESNT)
Copper Rock Capital Partners LLC acquired a new stake in shares of Essent Group Ltd. (NYSE:ESNT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,269,261 shares of the company’s stock, valued at approximately $33,572,000. Essent Group makes up about 2.2% of Copper Rock Capital Partners LLC’s holdings, making the stock its 7th largest position. Copper Rock Capital Partners LLC owned about 1.36% of Essent Group as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Westfield Capital Management Co. LP bought a new stake in Essent Group during the second quarter valued at approximately $16,617,000. Teachers Advisors Inc. boosted its stake in Essent Group by 793.3% in the second quarter. Teachers Advisors Inc. now owns 725,104 shares of the company’s stock valued at $15,815,000 after buying an additional 643,931 shares in the last quarter. Vanguard Group Inc. boosted its stake in Essent Group by 12.7% in the second quarter. Vanguard Group Inc. now owns 5,192,741 shares of the company’s stock valued at $113,253,000 after buying an additional 585,157 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Essent Group by 33.7% in the second quarter. BlackRock Fund Advisors now owns 1,781,571 shares of the company’s stock valued at $38,856,000 after buying an additional 448,760 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Essent Group by 9.8% in the second quarter. Alliancebernstein L.P. now owns 3,959,140 shares of the company’s stock valued at $86,349,000 after buying an additional 353,168 shares in the last quarter. 85.92% of the stock is currently owned by institutional investors and hedge funds.
Essent Group Ltd. (NYSE:ESNT) traded down 0.33% on Thursday, hitting $26.81. 50,003 shares of the stock traded hands. Essent Group Ltd. has a 52 week low of $16.49 and a 52 week high of $28.62. The firm has a market capitalization of $2.50 billion, a PE ratio of 13.27 and a beta of 1.09. The stock has a 50 day moving average of $26.68 and a 200 day moving average of $23.00.
Essent Group (NYSE:ESNT) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. Essent Group had a net margin of 46.40% and a return on equity of 15.98%. The company had revenue of $108.50 million for the quarter, compared to analyst estimates of $105.30 million. During the same period last year, the firm earned $0.41 earnings per share. The firm’s revenue was up 28.7% on a year-over-year basis. Equities research analysts anticipate that Essent Group Ltd. will post $2.28 earnings per share for the current year.
Several equities research analysts recently commented on ESNT shares. TheStreet raised shares of Essent Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 14th. Bank of America Corp. cut shares of Essent Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 28th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Essent Group in a research report on Monday, August 8th. Zacks Investment Research cut shares of Essent Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Finally, Keefe, Bruyette & Woods cut shares of Essent Group from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $26.00 to $26.50 in a research report on Friday, August 5th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $27.05.
In related news, CFO Lawrence E. Mcalee, Jr. sold 6,020 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $27.17, for a total transaction of $163,563.40. Following the completion of the sale, the chief financial officer now owns 292,263 shares in the company, valued at $7,940,785.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeff Cashmer sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $26.15, for a total transaction of $627,600.00. Following the sale, the senior vice president now owns 158,753 shares of the company’s stock, valued at approximately $4,151,390.95. The disclosure for this sale can be found here. Corporate insiders own 20.70% of the company’s stock.
About Essent Group
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in serving the United States housing finance industry. It offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The primary mortgage insurance operations are conducted through Essent Guaranty, Inc (Essent Guaranty), a subsidiary of the company, which maintains operations centers and operates additional underwriting and service centers in Winston-Salem, North Carolina and Irvine, California.
Receive News & Stock Ratings for Essent Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essent Group Ltd. and related stocks with our FREE daily email newsletter.