Prudential Financial Inc. lowered its stake in shares of Essent Group Ltd. (NYSE:ESNT) by 53.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,470 shares of the financial services provider’s stock after selling 189,560 shares during the period. Prudential Financial Inc. owned 0.18% of Essent Group worth $6,219,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Essent Group by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 7,171,835 shares of the financial services provider’s stock worth $259,405,000 after purchasing an additional 555,591 shares in the last quarter. BlackRock Inc. raised its stake in shares of Essent Group by 6,828.8% during the 1st quarter. BlackRock Inc. now owns 5,844,752 shares of the financial services provider’s stock worth $211,403,000 after purchasing an additional 5,760,398 shares in the last quarter. State Street Corp raised its stake in shares of Essent Group by 16.6% during the 1st quarter. State Street Corp now owns 2,493,815 shares of the financial services provider’s stock worth $90,204,000 after purchasing an additional 355,289 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Essent Group by 16.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,490,964 shares of the financial services provider’s stock worth $55,375,000 after purchasing an additional 207,701 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Essent Group by 2.3% during the 2nd quarter. Boston Partners now owns 1,240,959 shares of the financial services provider’s stock worth $46,089,000 after purchasing an additional 27,755 shares in the last quarter. Institutional investors own 81.44% of the company’s stock.

Essent Group Ltd. (NYSE:ESNT) opened at 39.08 on Friday. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 13.91 and a beta of 1.14. Essent Group Ltd. has a 12-month low of $25.84 and a 12-month high of $41.44. The company’s 50 day moving average price is $38.45 and its 200-day moving average price is $37.16.

Essent Group (NYSE:ESNT) last issued its quarterly earnings results on Friday, August 4th. The financial services provider reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.09. The business had revenue of $137.61 million for the quarter, compared to analyst estimates of $131.99 million. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. Essent Group’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. On average, equities analysts anticipate that Essent Group Ltd. will post $3.06 earnings per share for the current fiscal year.

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A number of equities research analysts have recently issued reports on the company. BidaskClub upgraded Essent Group from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Monday, July 10th. BTIG Research upgraded Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Tuesday, September 12th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $40.00 target price on shares of Essent Group in a report on Tuesday, May 30th. Finally, ValuEngine raised Essent Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 9th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $43.43.

In related news, VP David B. Weinstock sold 2,000 shares of Essent Group stock in a transaction on Monday, August 14th. The stock was sold at an average price of $38.95, for a total transaction of $77,900.00. Following the sale, the vice president now directly owns 30,785 shares in the company, valued at $1,199,075.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mary Lourdes Gibbons sold 4,600 shares of Essent Group stock in a transaction on Monday, August 7th. The stock was sold at an average price of $41.04, for a total value of $188,784.00. Following the sale, the senior vice president now owns 262,902 shares in the company, valued at $10,789,498.08. The disclosure for this sale can be found here. Insiders have sold 31,918 shares of company stock worth $1,244,860 over the last quarter. 18.10% of the stock is currently owned by corporate insiders.

About Essent Group

Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance.

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Institutional Ownership by Quarter for Essent Group (NYSE:ESNT)

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