Alps Advisors Inc. Has $442,000 Stake in Essent Group Ltd. (ESNT)
Alps Advisors Inc. reduced its stake in Essent Group Ltd. (NYSE:ESNT) by 6.8% during the second quarter, Holdings Channel reports. The firm owned 20,263 shares of the company’s stock after selling 1,488 shares during the period. Alps Advisors Inc.’s holdings in Essent Group were worth $442,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Moody Aldrich Partners LLC boosted its position in Essent Group by 169.5% in the second quarter. Moody Aldrich Partners LLC now owns 79,610 shares of the company’s stock valued at $1,736,000 after buying an additional 50,065 shares during the last quarter. Strs Ohio boosted its position in Essent Group by 16.9% in the second quarter. Strs Ohio now owns 51,300 shares of the company’s stock valued at $1,118,000 after buying an additional 7,400 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its position in Essent Group by 1.3% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 269,284 shares of the company’s stock valued at $5,873,000 after buying an additional 3,539 shares during the last quarter. Nordea Investment Management AB boosted its position in Essent Group by 243.3% in the second quarter. Nordea Investment Management AB now owns 27,609 shares of the company’s stock valued at $602,000 after buying an additional 19,567 shares during the last quarter. Finally, Barclays PLC boosted its position in Essent Group by 646.5% in the first quarter. Barclays PLC now owns 64,200 shares of the company’s stock valued at $1,284,000 after buying an additional 55,600 shares during the last quarter. Hedge funds and other institutional investors own 85.92% of the company’s stock.
Essent Group Ltd. (NYSE:ESNT) traded down 0.59% during midday trading on Thursday, hitting $26.74. 374,678 shares of the company traded hands. The firm has a market capitalization of $2.49 billion, a PE ratio of 13.24 and a beta of 1.09. Essent Group Ltd. has a 12-month low of $16.49 and a 12-month high of $28.62. The stock’s 50-day moving average is $26.70 and its 200-day moving average is $23.02.
Essent Group (NYSE:ESNT) last posted its earnings results on Thursday, August 4th. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.04. The company had revenue of $108.50 million for the quarter, compared to analyst estimates of $105.30 million. Essent Group had a net margin of 46.40% and a return on equity of 15.98%. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. Analysts anticipate that Essent Group Ltd. will post $2.28 EPS for the current fiscal year.
Several research firms have weighed in on ESNT. Barclays PLC set a $30.00 price objective on shares of Essent Group and gave the stock a “buy” rating in a research report on Saturday, September 17th. Bank of America Corp. cut shares of Essent Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 28th. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Friday, August 5th. JPMorgan Chase & Co. lifted their price objective on shares of Essent Group from $26.50 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Finally, Credit Suisse Group AG restated a “hold” rating on shares of Essent Group in a report on Monday, August 8th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Essent Group has a consensus rating of “Buy” and a consensus target price of $27.05.
In other Essent Group news, CFO Lawrence E. Mcalee, Jr. sold 6,020 shares of the stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $27.17, for a total value of $163,563.40. Following the sale, the chief financial officer now directly owns 292,263 shares in the company, valued at $7,940,785.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mary Lourdes Gibbons sold 7,500 shares of the stock in a transaction on Monday, September 19th. The stock was sold at an average price of $27.83, for a total transaction of $208,725.00. Following the sale, the senior vice president now directly owns 271,481 shares of the company’s stock, valued at approximately $7,555,316.23. The disclosure for this sale can be found here. 20.70% of the stock is currently owned by company insiders.
About Essent Group
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in serving the United States housing finance industry. It offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The primary mortgage insurance operations are conducted through Essent Guaranty, Inc (Essent Guaranty), a subsidiary of the company, which maintains operations centers and operates additional underwriting and service centers in Winston-Salem, North Carolina and Irvine, California.
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