Wells Fargo & Company MN lowered its holdings in Essent Group Ltd. (NYSE:ESNT) by 10.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 663,589 shares of the financial services provider’s stock after selling 75,691 shares during the period. Wells Fargo & Company MN owned about 0.71% of Essent Group worth $24,646,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Essent Group by 8.4% in the first quarter. Vanguard Group Inc. now owns 7,171,835 shares of the financial services provider’s stock worth $259,405,000 after acquiring an additional 555,591 shares in the last quarter. BlackRock Inc. increased its position in shares of Essent Group by 6,828.8% in the first quarter. BlackRock Inc. now owns 5,844,752 shares of the financial services provider’s stock worth $211,403,000 after acquiring an additional 5,760,398 shares in the last quarter. State Street Corp increased its position in shares of Essent Group by 16.6% in the first quarter. State Street Corp now owns 2,493,815 shares of the financial services provider’s stock worth $90,204,000 after acquiring an additional 355,289 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Essent Group by 3.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,595,288 shares of the financial services provider’s stock worth $59,249,000 after acquiring an additional 58,836 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Essent Group by 16.2% in the second quarter. Victory Capital Management Inc. now owns 1,490,964 shares of the financial services provider’s stock worth $55,375,000 after acquiring an additional 207,701 shares in the last quarter. 81.40% of the stock is currently owned by institutional investors.

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Several research firms have recently weighed in on ESNT. Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Monday, July 10th. ValuEngine raised shares of Essent Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. BidaskClub downgraded shares of Essent Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods set a $43.00 price objective on shares of Essent Group and gave the company a “hold” rating in a research report on Monday, August 7th. Finally, Barclays PLC boosted their price objective on shares of Essent Group from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. 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 has a consensus rating of “Buy” and a consensus price target of $43.43.

Shares of Essent Group Ltd. (NYSE:ESNT) opened at 39.55 on Friday. The firm has a 50-day moving average of $38.53 and a 200-day moving average of $37.26. Essent Group Ltd. has a 1-year low of $25.84 and a 1-year high of $41.44. The firm has a market capitalization of $3.69 billion, a PE ratio of 14.07 and a beta of 1.14.

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

In related news, VP David B. Weinstock sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $38.91, for a total transaction of $77,820.00. Following the completion of the sale, the vice president now directly owns 28,785 shares of the company’s stock, valued at approximately $1,120,024.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mary Lourdes Gibbons sold 4,600 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $41.04, for a total transaction of $188,784.00. Following the transaction, the senior vice president now directly owns 262,902 shares of the company’s stock, valued at $10,789,498.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,918 shares of company stock valued at $1,322,680. 18.10% of the stock is owned by company 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.

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

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