Sei Investments Co. grew its stake in Essent Group Ltd (NYSE:ESNT) by 182.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,211 shares of the financial services provider’s stock after buying an additional 5,305 shares during the period. Sei Investments Co.’s holdings in Essent Group were worth $333,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Fortaleza Asset Management Inc. acquired a new position in shares of Essent Group in the 3rd quarter valued at $112,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 valued at $117,000 after buying an additional 288 shares in the last quarter. Nine Chapters Capital Management LLC acquired a new position in shares of Essent Group in the 3rd quarter valued at $219,000. Teacher Retirement System of Texas acquired a new position in shares of Essent Group in the 2nd quarter valued at $208,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Essent Group in the 2nd quarter valued at $243,000. Institutional investors and hedge funds own 85.83% of the company’s stock.
Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Essent Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. BTIG Research upgraded shares of Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 target price for the company in a report on Tuesday, September 12th. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Friday, September 8th. Wells Fargo & Company assumed coverage on shares of Essent Group in a report on Tuesday, November 28th. They issued an “outperform” rating and a $52.00 target price for the company. Finally, Deutsche Bank upped their target price on shares of Essent Group from $48.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $45.78.
Essent Group (NYSE:ESNT) last issued its quarterly earnings results on Thursday, November 9th. The financial services provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.07. The firm 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%. Essent Group’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. research analysts expect that Essent Group Ltd will post 3.08 earnings per share for the current year.
In other Essent Group news, Director Andrew Turnbull sold 10,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the transaction, the director now owns 45,409 shares in the company, valued at approximately $2,043,405. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David B. Weinstock sold 3,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $41.71, for a total transaction of $125,130.00. Following the transaction, the vice president now owns 25,785 shares of the company’s stock, valued at approximately $1,075,492.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,858 shares of company stock valued at $2,414,044. 18.10% of the stock is owned by company insiders.
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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