Essent Group Ltd (ESNT) Position Reduced by Legg Mason Asset Management Japan Co. Ltd.

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Legg Mason Asset Management Japan Co. Ltd. decreased its stake in Essent Group Ltd (NYSE:ESNT) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,800 shares of the financial services provider’s stock after selling 800 shares during the quarter. Legg Mason Asset Management Japan Co. Ltd.’s holdings in Essent Group were worth $609,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ESNT. FMR LLC boosted its stake in Essent Group by 25.3% in the 3rd quarter. FMR LLC now owns 8,638,849 shares of the financial services provider’s stock valued at $382,269,000 after buying an additional 1,744,715 shares in the last quarter. Capital Research Global Investors boosted its stake in Essent Group by 9.1% in the 3rd quarter. Capital Research Global Investors now owns 9,140,010 shares of the financial services provider’s stock valued at $404,445,000 after buying an additional 759,064 shares in the last quarter. Schroder Investment Management Group acquired a new stake in Essent Group in the 3rd quarter valued at $30,050,000. Shoals Capital Management LP acquired a new stake in Essent Group in the 4th quarter valued at $20,935,000. Finally, Rothschild & Co. Asset Management US Inc. acquired a new stake in Essent Group in the 3rd quarter valued at $25,106,000. 91.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of ESNT opened at $44.22 on Friday. Essent Group Ltd has a 12-month low of $31.08 and a 12-month high of $45.60. The firm has a market cap of $4.35 billion, a PE ratio of 9.12, a PEG ratio of 0.83 and a beta of 1.50.

Essent Group (NYSE:ESNT) last issued its quarterly earnings results on Friday, February 8th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.16. Essent Group had a return on equity of 21.90% and a net margin of 64.97%. The business had revenue of $193.10 million for the quarter, compared to analyst estimates of $189.76 million. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. Analysts forecast that Essent Group Ltd will post 5.22 EPS for the current fiscal year.

In other news, SVP Jeff Cashmer sold 25,000 shares of the company’s stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $37.38, for a total transaction of $934,500.00. Following the transaction, the senior vice president now owns 118,395 shares of the company’s stock, valued at $4,425,605.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mary Lourdes Gibbons sold 9,000 shares of the company’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $43.01, for a total value of $387,090.00. Following the transaction, the senior vice president now directly owns 212,733 shares in the company, valued at approximately $9,149,646.33. The disclosure for this sale can be found here. Insiders have sold 84,007 shares of company stock worth $3,467,013 in the last ninety days. 3.00% of the stock is currently owned by insiders.

A number of equities analysts have commented on ESNT shares. ValuEngine raised Essent Group from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Barclays set a $52.00 price objective on Essent Group and gave the stock a “buy” rating in a research note on Friday, December 14th. Finally, Zacks Investment Research raised Essent Group from a “hold” rating to a “strong-buy” rating and set a $43.00 price objective on the stock in a research note on Thursday, January 17th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $47.38.

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About Essent Group

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: What is Call Option Volume?

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Institutional Ownership by Quarter for Essent Group (NYSE:ESNT)

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