Insider Selling: Essent Group (NYSE:ESNT) Director Sells 3,250 Shares of Stock

Essent Group Ltd. (NYSE:ESNT) Director Roy James Kasmar sold 3,250 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $61.44, for a total transaction of $199,680.00. Following the completion of the sale, the director owned 23,573 shares in the company, valued at approximately $1,448,325.12. This trade represents a 12.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Essent Group Price Performance

Essent Group stock traded down $0.23 during mid-day trading on Friday, hitting $62.76. The company’s stock had a trading volume of 338,538 shares, compared to its average volume of 710,516. Essent Group Ltd. has a twelve month low of $51.61 and a twelve month high of $65.90. The stock’s fifty day moving average price is $61.40 and its two-hundred day moving average price is $60.35. The stock has a market capitalization of $6.07 billion, a P/E ratio of 9.14, a P/E/G ratio of 4.18 and a beta of 0.91. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.09.

Essent Group (NYSE:ESNT) last released its quarterly earnings results on Friday, November 7th. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.08). Essent Group had a net margin of 55.63% and a return on equity of 12.40%. The firm had revenue of $311.83 million for the quarter, compared to analyst estimates of $316.84 million. During the same quarter in the prior year, the firm earned $1.65 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. Research analysts forecast that Essent Group Ltd. will post 6.88 earnings per share for the current year.

Essent Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, December 1st will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, December 1st. Essent Group’s dividend payout ratio is presently 18.05%.

Analyst Ratings Changes

ESNT has been the topic of a number of recent research reports. DOWLING & PARTN downgraded shares of Essent Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 12th. Weiss Ratings restated a “buy (b+)” rating on shares of Essent Group in a report on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating on shares of Essent Group in a research note on Friday, August 8th. Barclays increased their price objective on Essent Group from $59.00 to $66.00 and gave the company a “cautious” rating in a report on Monday, October 6th. Finally, Keefe, Bruyette & Woods lowered Essent Group from an “outperform” rating to a “market perform” rating in a report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $65.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Focus Partners Advisor Solutions LLC grew its stake in shares of Essent Group by 3.6% in the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 4,832 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 166 shares during the period. HBK Sorce Advisory LLC raised its stake in Essent Group by 5.2% during the third quarter. HBK Sorce Advisory LLC now owns 3,551 shares of the financial services provider’s stock worth $212,000 after acquiring an additional 177 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Essent Group by 45.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 624 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 195 shares during the last quarter. Inspire Advisors LLC boosted its position in Essent Group by 1.7% in the third quarter. Inspire Advisors LLC now owns 11,830 shares of the financial services provider’s stock valued at $752,000 after buying an additional 198 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Essent Group by 5.7% during the first quarter. PNC Financial Services Group Inc. now owns 3,721 shares of the financial services provider’s stock worth $215,000 after buying an additional 200 shares during the last quarter. Institutional investors own 93.00% of the company’s stock.

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.