Summit Global Investments acquired a new stake in shares of Essent Group Ltd (NYSE:ESNT) during the second quarter, Holdings Channel reports. The fund acquired 18,300 shares of the financial services provider’s stock, valued at approximately $656,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New York State Common Retirement Fund grew its position in Essent Group by 5.4% during the first quarter. New York State Common Retirement Fund now owns 111,862 shares of the financial services provider’s stock valued at $4,761,000 after purchasing an additional 5,697 shares in the last quarter. Unigestion Holding SA purchased a new position in Essent Group during the second quarter valued at approximately $1,275,000. FDx Advisors Inc. bought a new stake in Essent Group in the first quarter worth approximately $200,000. Swiss National Bank grew its position in Essent Group by 2.2% in the first quarter. Swiss National Bank now owns 145,700 shares of the financial services provider’s stock worth $6,201,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Essent Group by 10.0% in the first quarter. Prudential Financial Inc. now owns 189,250 shares of the financial services provider’s stock worth $8,055,000 after acquiring an additional 17,230 shares in the last quarter. 90.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Essent Group stock opened at $43.08 on Friday. Essent Group Ltd has a 1-year low of $32.73 and a 1-year high of $50.08. The firm has a market capitalization of $4.18 billion, a PE ratio of 13.90, a PEG ratio of 0.94 and a beta of 1.22.

Essent Group (NYSE:ESNT) last issued its quarterly earnings data on Friday, August 3rd. The financial services provider reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.08. Essent Group had a net margin of 71.08% and a return on equity of 19.37%. The business had revenue of $173.77 million during the quarter, compared to analysts’ expectations of $174.06 million. During the same period in the previous year, the company earned $0.77 earnings per share. Essent Group’s revenue for the quarter was up 26.3% on a year-over-year basis. research analysts anticipate that Essent Group Ltd will post 4.54 EPS for the current fiscal year.

Several research firms have commented on ESNT. ValuEngine raised shares of Essent Group from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. MKM Partners decreased their target price on shares of Essent Group to $40.00 and set a “neutral” rating for the company in a research report on Monday, August 6th. Susquehanna Bancshares boosted their target price on shares of Essent Group from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 6th. Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Wednesday, July 25th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Essent Group from $51.00 to $40.00 and set a “$38.36” rating for the company in a research report on Monday, July 23rd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Essent Group currently has a consensus rating of “Buy” and a consensus price target of $49.48.

Essent Group Company Profile

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.

Featured Story: Do closed-end mutual funds pay dividends?

Want to see what other hedge funds are holding ESNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essent Group Ltd (NYSE:ESNT).

Institutional Ownership by Quarter for Essent Group (NYSE:ESNT)

Receive News & Ratings for Essent Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essent Group and related companies with MarketBeat.com's FREE daily email newsletter.