Russell Investments Group Ltd. Sells 55,851 Shares of Essent Group Ltd. (NYSE:ESNT)

Russell Investments Group Ltd. cut its position in Essent Group Ltd. (NYSE:ESNT) by 45.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,912 shares of the financial services provider’s stock after selling 55,851 shares during the period. Russell Investments Group Ltd.’s holdings in Essent Group were worth $3,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. NFC Investments LLC increased its position in Essent Group by 0.3% in the fourth quarter. NFC Investments LLC now owns 56,688 shares of the financial services provider’s stock worth $3,086,000 after purchasing an additional 175 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Essent Group by 8.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,363 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 180 shares in the last quarter. Picton Mahoney Asset Management lifted its holdings in Essent Group by 68.8% during the fourth quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider’s stock worth $32,000 after buying an additional 238 shares during the period. Franklin Resources Inc. lifted its position in shares of Essent Group by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 47,469 shares of the financial services provider’s stock valued at $2,584,000 after buying an additional 287 shares during the last quarter. Finally, Cozad Asset Management Inc. lifted its holdings in shares of Essent Group by 1.3% during the 4th quarter. Cozad Asset Management Inc. now owns 25,143 shares of the financial services provider’s stock valued at $1,369,000 after purchasing an additional 311 shares during the last quarter. Institutional investors own 93.00% of the company’s stock.

Essent Group Trading Down 0.0 %

Shares of NYSE:ESNT opened at $55.74 on Wednesday. Essent Group Ltd. has a 52 week low of $51.61 and a 52 week high of $65.34. The company has a market cap of $5.79 billion, a PE ratio of 8.15, a P/E/G ratio of 2.70 and a beta of 0.80. The company’s 50 day moving average is $56.14 and its two-hundred day moving average is $57.19.

Essent Group (NYSE:ESNT) last released its quarterly earnings results on Friday, February 14th. The financial services provider reported $1.58 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.09). Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The firm had revenue of $315.00 million for the quarter, compared to analyst estimates of $313.88 million. During the same period last year, the firm earned $1.64 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts expect that Essent Group Ltd. will post 6.88 EPS for the current year.

Essent Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 14th were given a $0.31 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 2.22%. This is an increase from Essent Group’s previous quarterly dividend of $0.28. Essent Group’s dividend payout ratio (DPR) is presently 18.13%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ESNT. Royal Bank of Canada restated an “outperform” rating and issued a $67.00 target price on shares of Essent Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised Essent Group from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods cut their target price on Essent Group from $71.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Finally, Barclays lowered shares of Essent Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $69.00 to $58.00 in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $61.71.

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.