Essent Group Ltd. (ESNT) Shares Bought by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans increased its stake in Essent Group Ltd. (NYSE:ESNT) by 25.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,753 shares of the financial services provider’s stock after purchasing an additional 31,965 shares during the period. Thrivent Financial For Lutherans owned 0.17% of Essent Group worth $5,822,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of ESNT. BlackRock Inc. raised its position in Essent Group by 6,828.8% in the 1st quarter. BlackRock Inc. now owns 5,844,752 shares of the financial services provider’s stock worth $211,403,000 after purchasing an additional 5,760,398 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Essent Group in the 1st quarter worth approximately $27,573,000. Alliancebernstein L.P. raised its position in Essent Group by 18.7% in the 2nd quarter. Alliancebernstein L.P. now owns 3,755,887 shares of the financial services provider’s stock worth $139,494,000 after purchasing an additional 592,824 shares during the last quarter. Vanguard Group Inc. raised its position in Essent Group by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 7,171,835 shares of the financial services provider’s stock worth $259,405,000 after purchasing an additional 555,591 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Essent Group in the 2nd quarter worth approximately $19,348,000. Hedge funds and other institutional investors own 81.40% of the company’s stock.
Shares of Essent Group Ltd. (ESNT) opened at 39.55 on Monday. Essent Group Ltd. has a 12-month low of $25.84 and a 12-month high of $41.44. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 14.07 and a beta of 1.14. The firm’s 50-day moving average is $38.53 and its 200-day moving average is $37.26.
Essent Group (NYSE:ESNT) last released its quarterly earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.09. The firm had revenue of $137.61 million during the quarter, compared to the consensus estimate of $131.99 million. Essent Group had a net margin of 50.92% and a return on equity of 18.77%. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 earnings per share. Analysts predict that Essent Group Ltd. will post $3.06 earnings per share for the current fiscal year.
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Several research firms recently weighed in on ESNT. Barclays PLC restated a “buy” rating on shares of Essent Group in a research report on Wednesday, August 9th. Deutsche Bank AG boosted their price objective on shares of Essent Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $40.00 price objective on shares of Essent Group in a research report on Tuesday, May 30th. BTIG Research upgraded shares of Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, September 12th. Finally, Zacks Investment Research cut shares of Essent Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $43.43.
In other news, CFO Lawrence E. Mcalee, Jr. sold 7,000 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $36.99, for a total transaction of $258,930.00. Following the completion of the transaction, the chief financial officer now owns 279,285 shares of the company’s stock, valued at $10,330,752.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 28,785 shares of the company’s stock, valued at approximately $1,120,024.35. The disclosure for this sale can be found here. Insiders have sold 33,918 shares of company stock valued at $1,322,680 in the last ninety days. Insiders own 18.10% of the company’s stock.
About Essent Group
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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