Summit Global Investments reduced its stake in shares of Essent Group Ltd. (NYSE:ESNT – Free Report) by 2.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 23,397 shares of the financial services provider’s stock after selling 708 shares during the period. Summit Global Investments’ holdings in Essent Group were worth $1,504,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. raised its position in Essent Group by 726.8% in the 3rd quarter. UMB Bank n.a. now owns 463 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 407 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Essent Group in the third quarter valued at about $32,000. Advisors Asset Management Inc. purchased a new position in shares of Essent Group in the first quarter valued at about $32,000. Quarry LP increased its position in shares of Essent Group by 167.1% in the second quarter. Quarry LP now owns 836 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 523 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Essent Group in the second quarter valued at about $47,000. 93.00% of the stock is owned by institutional investors.
Insider Activity
In other news, CFO David B. Weinstock sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total transaction of $127,180.00. Following the completion of the transaction, the chief financial officer now directly owns 25,416 shares of the company’s stock, valued at $1,616,203.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
View Our Latest Stock Analysis on Essent Group
Essent Group Price Performance
NYSE:ESNT opened at $55.25 on Friday. Essent Group Ltd. has a one year low of $47.56 and a one year high of $65.33. The company’s 50-day simple moving average is $62.08 and its 200 day simple moving average is $59.32. The firm has a market capitalization of $5.87 billion, a P/E ratio of 8.01, a PEG ratio of 1.78 and a beta of 1.12.
Essent Group (NYSE:ESNT – Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The financial services provider reported $1.65 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.08). The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $316.80 million. Essent Group had a return on equity of 13.81% and a net margin of 60.15%. The company’s revenue was up 969.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.66 EPS. On average, equities research analysts expect that Essent Group Ltd. will post 6.95 earnings per share for the current fiscal year.
Essent Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 2.03%. Essent Group’s payout ratio is 16.23%.
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. Its mortgage insurance products include primary, pool, and master policy. The company also provides information technology maintenance and development services; customer support-related services; underwriting consulting; and contract underwriting services, as well as risk management products and title insurance and settlement services.
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