Renaissancere Holdings Ltd. Invests $107.11 Billion in Essent Group Ltd. $ESNT

Renaissancere Holdings Ltd. purchased a new position in shares of Essent Group Ltd. (NYSE:ESNT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,666,374 shares of the financial services provider’s stock, valued at approximately $107,114,521,000. Essent Group comprises approximately 25.4% of Renaissancere Holdings Ltd.’s portfolio, making the stock its 2nd largest position. Renaissancere Holdings Ltd. owned about 1.81% of Essent Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in Essent Group in the third quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Essent Group during the third quarter worth $27,000. Los Angeles Capital Management LLC acquired a new stake in shares of Essent Group in the fourth quarter valued at $27,000. IFP Advisors Inc increased its stake in shares of Essent Group by 97.1% in the fourth quarter. IFP Advisors Inc now owns 676 shares of the financial services provider’s stock valued at $44,000 after buying an additional 333 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Essent Group by 790.6% in the second quarter. Versant Capital Management Inc now owns 757 shares of the financial services provider’s stock valued at $49,000 after buying an additional 672 shares during the last quarter. 93.00% of the stock is owned by institutional investors and hedge funds.

Essent Group Price Performance

Shares of ESNT stock opened at $69.34 on Tuesday. The stock has a 50-day moving average price of $64.21 and a 200 day moving average price of $61.86. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.09. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 1.79 and a beta of 0.76. Essent Group Ltd. has a 12 month low of $55.34 and a 12 month high of $70.00.

Essent Group (NYSE:ESNT) last announced its quarterly earnings data on Tuesday, June 30th. The financial services provider reported $2.08 earnings per share for the quarter. The firm had revenue of $362.69 million during the quarter. Essent Group had a return on equity of 11.91% and a net margin of 51.45%. Research analysts expect that Essent Group Ltd. will post 7.42 EPS for the current year.

Essent Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, August 31st. Essent Group’s dividend payout ratio is currently 19.53%.

Insider Buying and Selling at Essent Group

In other Essent Group news, CFO David B. Weinstock sold 5,500 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $63.51, for a total transaction of $349,305.00. Following the completion of the sale, the chief financial officer owned 35,494 shares in the company, valued at approximately $2,254,223.94. The trade was a 13.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Casale sold 29,329 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $65.35, for a total transaction of $1,916,650.15. Following the sale, the chief executive officer owned 2,184,143 shares of the company’s stock, valued at $142,733,745.05. The trade was a 1.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 40,320 shares of company stock valued at $2,625,422. 3.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Essent Group from $74.00 to $78.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Royal Bank Of Canada upped their target price on shares of Essent Group from $68.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Monday, August 10th. Weiss Ratings raised shares of Essent Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Roth Capital raised their price target on shares of Essent Group from $65.00 to $80.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Barclays raised their price target on shares of Essent Group from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $71.86.

Essent Group Profile

Essent Group Ltd. (NYSE: ESNT) is a publicly traded insurance holding company specializing in private mortgage insurance and mortgage reinsurance solutions. Through its primary subsidiary, Essent Guaranty, the company provides credit protection to mortgage lenders, helping mitigate the risk of borrower default on residential mortgage loans. Essent’s insurance policies enable lenders to offer low-down-payment programs, supporting homebuyers in achieving homeownership with reduced upfront equity requirements.

Beyond traditional mortgage insurance, Essent offers a suite of risk management and analytics services designed to help financial institutions monitor and manage mortgage portfolios.