Essent Group Ltd. (ESNT) Shares Bought by Cipher Capital LP
Cipher Capital LP increased its holdings in Essent Group Ltd. (NYSE:ESNT) by 44.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,458 shares of the financial services provider’s stock after acquiring an additional 25,374 shares during the quarter. Cipher Capital LP owned about 0.08% of Essent Group worth $3,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Fortaleza Asset Management Inc. bought a new position in shares of Essent Group in the 3rd quarter worth about $112,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Essent Group by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 288 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Essent Group in the 2nd quarter worth about $206,000. Teacher Retirement System of Texas bought a new position in shares of Essent Group in the 2nd quarter worth about $208,000. Finally, Nine Chapters Capital Management LLC bought a new position in shares of Essent Group in the 3rd quarter worth about $219,000. Institutional investors own 81.91% of the company’s stock.
Essent Group Ltd. (ESNT) traded down $0.07 during trading hours on Friday, reaching $44.80. 925,938 shares of the company’s stock were exchanged, compared to its average volume of 1,188,197. The company has a market cap of $4,409.84, a price-to-earnings ratio of 14.98, a P/E/G ratio of 1.47 and a beta of 1.15. Essent Group Ltd. has a 1-year low of $28.03 and a 1-year high of $45.22.
Essent Group (NYSE:ESNT) last released its quarterly earnings data on Thursday, November 9th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The business had revenue of $150.20 million during the quarter, compared to analyst estimates of $143.79 million. Essent Group had a net margin of 51.64% and a return on equity of 18.55%. Essent Group’s revenue was up 23.9% compared to the same quarter last year. During the same period last year, the business earned $0.65 EPS. analysts predict that Essent Group Ltd. will post 3.05 EPS for the current fiscal year.
In other news, VP David B. Weinstock sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $41.71, for a total transaction of $125,130.00. Following the sale, the vice president now owns 25,785 shares of the company’s stock, valued at approximately $1,075,492.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mary Lourdes Gibbons sold 4,836 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $42.04, for a total transaction of $203,305.44. Following the sale, the senior vice president now directly owns 258,066 shares in the company, valued at approximately $10,849,094.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,045 shares of company stock worth $955,835. Insiders own 18.10% of the company’s stock.
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ESNT has been the subject of several research reports. Barclays PLC reiterated a “buy” rating on shares of Essent Group in a research note on Wednesday, August 9th. Deutsche Bank AG increased their price target on shares of Essent Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Wednesday, July 26th. BTIG Research upgraded shares of Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Tuesday, September 12th. Finally, Compass Point reiterated a “buy” rating and issued a $50.00 price target (up from $38.00) on shares of Essent Group in a research note on Wednesday, October 11th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Essent Group has a consensus rating of “Buy” and an average target price of $45.00.
Essent Group Profile
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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