Vanguard Group Inc. Acquires 655,163 Shares of Essent Group Ltd. (ESNT)
Vanguard Group Inc. increased its holdings in Essent Group Ltd. (NYSE:ESNT) by 9.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,826,998 shares of the financial services provider’s stock after buying an additional 655,163 shares during the period. Vanguard Group Inc. owned about 8.38% of Essent Group worth $290,695,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. BlackRock Inc. raised its stake in Essent Group by 6,828.8% in the first quarter. BlackRock Inc. now owns 5,844,752 shares of the financial services provider’s stock worth $211,403,000 after buying an additional 5,760,398 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Essent Group by 18.7% during the second 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 in the last quarter. State Street Corp increased its position in shares of Essent Group by 16.6% during the first quarter. State Street Corp now owns 2,493,815 shares of the financial services provider’s stock worth $90,204,000 after purchasing an additional 355,289 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Essent Group by 3.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,595,288 shares of the financial services provider’s stock worth $59,249,000 after purchasing an additional 58,836 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Essent Group by 16.2% during the second quarter. Victory Capital Management Inc. now owns 1,490,964 shares of the financial services provider’s stock worth $55,375,000 after purchasing an additional 207,701 shares in the last quarter. 81.40% of the stock is owned by institutional investors.
Essent Group Ltd. (NYSE ESNT) opened at 39.70 on Wednesday. The firm has a market capitalization of $3.71 billion, a P/E ratio of 14.13 and a beta of 1.14. The stock’s 50 day moving average price is $39.01 and its 200-day moving average price is $37.75. Essent Group Ltd. has a 12 month low of $25.84 and a 12 month high of $41.44.
Essent Group (NYSE:ESNT) last announced its quarterly earnings data on Friday, August 4th. The financial services provider reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.09. Essent Group had a net margin of 50.92% and a return on equity of 18.77%. The business had revenue of $137.61 million for the quarter, compared to analyst estimates of $131.99 million. During the same period last year, the business earned $0.57 EPS. The company’s revenue was up 27.2% on a year-over-year basis. Equities analysts forecast that Essent Group Ltd. will post $3.05 earnings per share for the current year.
A number of equities analysts have recently issued reports on the company. Barclays PLC reaffirmed a “buy” rating on shares of Essent Group in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Essent Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Deutsche Bank AG upped their price target on 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 raised Essent Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $43.00 to $44.00 in a research report on Wednesday, August 23rd. Finally, BidaskClub downgraded Essent Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $44.00.
In other news, SVP Mary Lourdes Gibbons sold 4,600 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $40.01, for a total value of $184,046.00. Following the sale, the senior vice president now directly owns 267,502 shares in the company, valued at approximately $10,702,755.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $38.51, for a total transaction of $77,020.00. The disclosure for this sale can be found here. Insiders sold a total of 22,918 shares of company stock worth $909,690 over the last 90 days. Company insiders own 18.10% of the company’s stock.
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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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