Raymond James & Associates boosted its position in Essent Group Ltd. (NYSE:ESNT – Free Report) by 12.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,980 shares of the financial services provider’s stock after acquiring an additional 1,544 shares during the quarter. Raymond James & Associates’ holdings in Essent Group were worth $661,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in Essent Group in the 2nd quarter valued at about $31,000. Parkside Financial Bank & Trust increased its position in Essent Group by 25.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,155 shares of the financial services provider’s stock valued at $54,000 after buying an additional 235 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Essent Group by 43.9% during the 1st quarter. Lazard Asset Management LLC now owns 1,668 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 509 shares during the last quarter. AXS Investments LLC acquired a new position in Essent Group during the 2nd quarter valued at about $86,000. Finally, Quantbot Technologies LP acquired a new position in Essent Group during the 1st quarter valued at about $149,000. 91.77% of the stock is owned by institutional investors.
Insider Transactions at Essent Group
In other news, SVP Mary Lourdes Gibbons sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the transaction, the senior vice president now owns 247,969 shares in the company, valued at approximately $13,638,295. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.10% of the company’s stock.
Essent Group Stock Down 1.9 %
Essent Group (NYSE:ESNT – Get Free Report) last announced its earnings results on Thursday, November 2nd. The financial services provider reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.09. Essent Group had a return on equity of 14.33% and a net margin of 64.11%. The firm had revenue of $296.11 million for the quarter, compared to the consensus estimate of $262.26 million. As a group, research analysts expect that Essent Group Ltd. will post 6.45 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on ESNT shares. UBS Group started coverage on Essent Group in a research note on Wednesday, December 6th. They set a “neutral” rating and a $54.00 price target for the company. StockNews.com downgraded Essent Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Finally, Barclays started coverage on Essent Group in a research note on Wednesday, November 15th. They set an “overweight” rating and a $60.00 price target for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.38.
Essent Group Profile
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.
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