GHP Investment Advisors Inc. Cuts Holdings in Essent Group Ltd. (NYSE:ESNT)

GHP Investment Advisors Inc. cut its holdings in Essent Group Ltd. (NYSE:ESNT) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,916 shares of the financial services provider’s stock after selling 653 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Essent Group were worth $3,209,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaMark Advisors LLC boosted its position in shares of Essent Group by 13.2% during the 1st quarter. AlphaMark Advisors LLC now owns 5,773 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 673 shares in the last quarter. State of Michigan Retirement System grew its position in Essent Group by 2.0% during the first quarter. State of Michigan Retirement System now owns 26,133 shares of the financial services provider’s stock worth $1,555,000 after buying an additional 500 shares during the period. Measured Wealth Private Client Group LLC grew its position in Essent Group by 4.1% during the first quarter. Measured Wealth Private Client Group LLC now owns 12,895 shares of the financial services provider’s stock worth $767,000 after buying an additional 506 shares during the period. Van ECK Associates Corp increased its holdings in Essent Group by 36.5% in the first quarter. Van ECK Associates Corp now owns 39,603 shares of the financial services provider’s stock valued at $2,357,000 after buying an additional 10,593 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Essent Group by 86.4% during the 1st quarter. BNP Paribas Financial Markets now owns 65,061 shares of the financial services provider’s stock valued at $3,872,000 after acquiring an additional 30,149 shares during the period. Institutional investors and hedge funds own 93.00% of the company’s stock.

Essent Group Trading Down 1.8 %

Essent Group stock opened at $60.46 on Friday. The stock has a 50-day moving average price of $63.19 and a 200 day moving average price of $59.10. Essent Group Ltd. has a 52 week low of $45.63 and a 52 week high of $65.33. The stock has a market cap of $6.42 billion, a PE ratio of 8.75, a P/E/G ratio of 1.54 and a beta of 1.12.

Essent Group (NYSE:ESNT) last issued its quarterly earnings results on Friday, August 2nd. The financial services provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.23. The business had revenue of $272.90 million during the quarter, compared to the consensus estimate of $308.33 million. Essent Group had a net margin of 61.31% and a return on equity of 14.40%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 earnings per share. On average, equities analysts predict that Essent Group Ltd. will post 7.02 EPS for the current year.

Essent Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 30th were issued a $0.28 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.12 annualized dividend and a yield of 1.85%. Essent Group’s dividend payout ratio (DPR) is presently 16.21%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ESNT. Keefe, Bruyette & Woods upgraded Essent Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $65.00 to $70.00 in a report on Monday, August 5th. BTIG Research upped their target price on Essent Group from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, August 5th. Royal Bank of Canada lifted their price target on Essent Group from $61.00 to $67.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of Essent Group from $63.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Finally, Barclays lifted their target price on shares of Essent Group from $64.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.50.

Insiders Place Their Bets

In other news, Director Roy James Kasmar sold 5,000 shares of Essent Group stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $58.81, for a total value of $294,050.00. Following the completion of the sale, the director now owns 27,140 shares of the company’s stock, valued at $1,596,103.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO David B. Weinstock sold 2,000 shares of the company’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 owns 25,416 shares of the company’s stock, valued at approximately $1,616,203.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Roy James Kasmar sold 5,000 shares of Essent Group stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $58.81, for a total transaction of $294,050.00. Following the completion of the transaction, the director now owns 27,140 shares in the company, valued at approximately $1,596,103.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

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. 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.