Handelsbanken Fonder AB Grows Stock Position in Essent Group Ltd. (NYSE:ESNT)

Handelsbanken Fonder AB lifted its holdings in Essent Group Ltd. (NYSE:ESNT) by 8.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,181 shares of the financial services provider’s stock after purchasing an additional 2,200 shares during the period. Handelsbanken Fonder AB’s holdings in Essent Group were worth $1,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ESNT. Harbor Capital Advisors Inc. purchased a new stake in Essent Group in the third quarter worth about $32,000. R Squared Ltd purchased a new stake in Essent Group in the 4th quarter worth approximately $63,000. Advisors Asset Management Inc. raised its stake in Essent Group by 53.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 477 shares during the period. Centaurus Financial Inc. purchased a new position in Essent Group during the third quarter valued at approximately $130,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Essent Group in the third quarter worth approximately $177,000. Hedge funds and other institutional investors own 93.00% of the company’s stock.

Essent Group Trading Down 0.9 %

Shares of NYSE:ESNT opened at $56.30 on Thursday. The company has a 50-day moving average price of $56.36 and a 200 day moving average price of $58.87. Essent Group Ltd. has a 12 month low of $52.15 and a 12 month high of $65.33. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 2.70 and a beta of 1.11.

Essent Group (NYSE:ESNT) last announced its earnings results on Friday, February 14th. The financial services provider reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.09). Essent Group had a net margin of 58.69% and a return on equity of 13.35%. The firm had revenue of $315.00 million during the quarter, compared to analysts’ expectations of $313.88 million. During the same period in the prior year, the company posted $1.64 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that Essent Group Ltd. will post 6.88 EPS for the current year.

Essent Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 14th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.20%. This is an increase from Essent Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, March 14th. Essent Group’s dividend payout ratio is presently 18.13%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $67.00 target price on shares of Essent Group in a research note on Tuesday, February 18th. Barclays downgraded Essent Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $69.00 to $58.00 in a research report on Monday, January 6th. The Goldman Sachs Group dropped their price objective on Essent Group from $68.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods decreased their target price on Essent Group from $72.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. dropped their price target on Essent Group from $67.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.57.

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. 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.