Rhumbline Advisers Grows Holdings in Essent Group Ltd. (NYSE:ESNT)

Rhumbline Advisers lifted its position in shares of Essent Group Ltd. (NYSE:ESNT) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 349,978 shares of the financial services provider’s stock after buying an additional 4,935 shares during the quarter. Rhumbline Advisers owned approximately 0.33% of Essent Group worth $19,053,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Raymond James & Associates lifted its stake in shares of Essent Group by 163.4% during the 3rd quarter. Raymond James & Associates now owns 44,676 shares of the financial services provider’s stock worth $2,872,000 after purchasing an additional 27,717 shares during the period. BayBridge Capital Group LLC increased its stake in Essent Group by 5.7% in the third quarter. BayBridge Capital Group LLC now owns 8,077 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 434 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Essent Group by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 12,366 shares of the financial services provider’s stock worth $795,000 after buying an additional 835 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Essent Group in the 3rd quarter worth about $32,000. Finally, Van ECK Associates Corp grew its holdings in Essent Group by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 65,087 shares of the financial services provider’s stock valued at $4,022,000 after buying an additional 18,597 shares during the period. Institutional investors and hedge funds own 93.00% of the company’s stock.

Essent Group Stock Up 0.1 %

NYSE ESNT opened at $56.16 on Friday. The stock has a market cap of $5.96 billion, a PE ratio of 8.21, a P/E/G ratio of 2.69 and a beta of 1.11. The business has a 50 day moving average price of $56.21 and a two-hundred day moving average price of $58.95. Essent Group Ltd. has a fifty-two week low of $51.99 and a fifty-two week high of $65.33.

Essent Group (NYSE:ESNT) last issued its quarterly earnings data on Friday, February 14th. The financial services provider reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.09). The firm had revenue of $315.00 million during the quarter, compared to analyst estimates of $313.88 million. Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 EPS. Sell-side analysts anticipate that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.

Essent Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 14th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 2.21%. This is an increase from Essent Group’s previous quarterly dividend of $0.28. Essent Group’s dividend payout ratio is currently 16.37%.

Analyst Ratings Changes

Several research analysts have recently weighed in on ESNT shares. Keefe, Bruyette & Woods cut their price objective on shares of Essent Group from $72.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday. Barclays downgraded Essent Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $69.00 to $58.00 in a research report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $67.00 price objective on shares of Essent Group in a report on Tuesday. The Goldman Sachs Group reduced their price objective on Essent Group from $68.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut their price target on shares of Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Essent Group currently has an average rating of “Hold” and a consensus price target of $62.57.

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.