Essent Group Ltd. (ESNT) Shares Bought by Macquarie Group Ltd.
Macquarie Group Ltd. lifted its position in shares of Essent Group Ltd. (NYSE:ESNT) by 11.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,340,407 shares of the financial services provider’s stock after buying an additional 137,846 shares during the period. Macquarie Group Ltd. owned approximately 1.36% of Essent Group worth $54,286,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in Essent Group by 57.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,351,264 shares of the financial services provider’s stock worth $95,226,000 after purchasing an additional 860,300 shares during the period. Vanguard Group Inc. boosted its position in Essent Group by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 7,826,998 shares of the financial services provider’s stock worth $290,695,000 after purchasing an additional 655,163 shares during the period. Alliancebernstein L.P. boosted its position in Essent Group by 18.7% during the 2nd quarter. Alliancebernstein L.P. now owns 3,755,887 shares of the financial services provider’s stock worth $139,494,000 after purchasing an additional 592,824 shares during the period. Koch Industries Inc. purchased a new stake in Essent Group during the 2nd quarter worth $395,000. Finally, APG Asset Management N.V. purchased a new stake in Essent Group during the 3rd quarter worth $13,535,000. Institutional investors and hedge funds own 82.51% of the company’s stock.
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Essent Group Ltd. (NYSE ESNT) traded down $0.07 during trading hours on Monday, reaching $44.80. 925,900 shares of the company’s stock were exchanged, compared to its average volume of 689,339. The stock has a market cap of $4,410.00, a PE ratio of 14.98, a P/E/G ratio of 1.47 and a beta of 1.15. Essent Group Ltd. has a one year low of $28.03 and a one year high of $45.22.
Essent Group (NYSE:ESNT) last posted 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 company had revenue of $150.20 million during the quarter, compared to analysts’ expectations of $143.79 million. Essent Group had a net margin of 51.64% and a return on equity of 18.55%. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. analysts forecast that Essent Group Ltd. will post 3.05 EPS for the current year.
In other news, VP David B. Weinstock sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $38.91, for a total value of $77,820.00. Following the sale, the vice president now owns 28,785 shares in the company, valued at approximately $1,120,024.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David B. Weinstock sold 3,000 shares of the company’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 completion of the sale, the vice president now owns 25,785 shares in the company, valued at approximately $1,075,492.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,045 shares of company stock valued at $955,835. 18.10% of the stock is currently owned by corporate insiders.
ESNT has been the subject of a number of research reports. Barclays PLC reaffirmed a “buy” rating on shares of Essent Group in a research report on Wednesday, August 9th. Deutsche Bank AG upped their price target on shares of Essent Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, July 26th. BTIG Research raised shares of Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, September 12th. Finally, Compass Point reissued a “buy” rating and issued a $50.00 price objective (up from $38.00) on shares of Essent Group in a research report on Wednesday, October 11th. Four 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 company. The stock has a consensus rating of “Buy” and an average price target of $45.00.
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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