Robeco Institutional Asset Management B.V. Has $8.38 Million Stake in Essent Group Ltd (ESNT)
Robeco Institutional Asset Management B.V. reduced its stake in shares of Essent Group Ltd (NYSE:ESNT) by 35.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 189,346 shares of the financial services provider’s stock after selling 105,879 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Essent Group were worth $8,380,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ESNT. Northern Trust Corp boosted its stake in Essent Group by 23.7% in the second quarter. Northern Trust Corp now owns 1,237,402 shares of the financial services provider’s stock valued at $44,324,000 after buying an additional 237,141 shares in the last quarter. Sentinel Trust Co. LBA acquired a new stake in Essent Group in the second quarter valued at about $648,000. Swiss National Bank boosted its stake in Essent Group by 5.5% in the second quarter. Swiss National Bank now owns 153,700 shares of the financial services provider’s stock valued at $5,506,000 after buying an additional 8,000 shares in the last quarter. Rehmann Capital Advisory Group acquired a new stake in Essent Group in the second quarter valued at about $202,000. Finally, Xact Kapitalforvaltning AB boosted its stake in Essent Group by 55.0% in the third quarter. Xact Kapitalforvaltning AB now owns 20,281 shares of the financial services provider’s stock valued at $897,000 after buying an additional 7,200 shares in the last quarter. 93.59% of the stock is currently owned by institutional investors.
In other news, VP David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $45.51, for a total transaction of $91,020.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeff Cashmer sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $40.06, for a total value of $1,001,500.00. Following the transaction, the senior vice president now owns 143,395 shares of the company’s stock, valued at $5,744,403.70. The disclosure for this sale can be found here. Insiders sold 90,468 shares of company stock valued at $3,941,196 over the last quarter. Corporate insiders own 3.00% of the company’s stock.
Essent Group (NYSE:ESNT) last posted its earnings results on Friday, November 9th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.12 by $0.06. The firm had revenue of $185.00 million during the quarter, compared to the consensus estimate of $181.40 million. Essent Group had a return on equity of 20.18% and a net margin of 72.96%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the company earned $0.82 earnings per share. On average, equities research analysts anticipate that Essent Group Ltd will post 4.61 EPS for the current fiscal year.
ESNT has been the topic of several research analyst reports. Zacks Investment Research lowered Essent Group from a “buy” rating to a “sell” rating in a research note on Monday, October 8th. JPMorgan Chase & Co. dropped their target price on Essent Group from $51.00 to $40.00 and set a “$38.36” rating for the company in a research report on Monday, July 23rd. ValuEngine downgraded Essent Group from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Barclays increased their target price on Essent Group from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, November 12th. Finally, Susquehanna Bancshares increased their target price on Essent Group from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, August 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $50.43.
Essent Group Profile
Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.
Further Reading: Reverse Stock Split
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