Essent Group Ltd. (NYSE:ESNT) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in Essent Group Ltd. (NYSE:ESNT) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,066 shares of the financial services provider’s stock after selling 2,594 shares during the period. Retirement Systems of Alabama’s holdings in Essent Group were worth $8,298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ESNT. Franklin Resources Inc. boosted its stake in shares of Essent Group by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 47,182 shares of the financial services provider’s stock valued at $2,993,000 after buying an additional 1,309 shares during the period. World Investment Advisors LLC acquired a new stake in Essent Group in the third quarter valued at approximately $686,000. Barclays PLC lifted its stake in Essent Group by 154.7% in the third quarter. Barclays PLC now owns 208,927 shares of the financial services provider’s stock worth $13,431,000 after acquiring an additional 126,899 shares during the last quarter. iSAM Funds UK Ltd purchased a new position in Essent Group in the third quarter worth approximately $407,000. Finally, EP Wealth Advisors LLC acquired a new position in Essent Group during the 3rd quarter worth approximately $215,000. 93.00% of the stock is owned by institutional investors and hedge funds.

Essent Group Stock Performance

Shares of ESNT opened at $54.61 on Wednesday. Essent Group Ltd. has a 1 year low of $50.65 and a 1 year high of $65.33. The company’s 50 day simple moving average is $58.18 and its 200 day simple moving average is $59.52. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 7.91, a PEG ratio of 2.60 and a beta of 1.09.

Essent Group (NYSE:ESNT) last posted its quarterly earnings results 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). Essent Group had a net margin of 60.15% and a return on equity of 13.81%. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $316.80 million. During the same quarter last year, the firm earned $1.66 EPS. The firm’s quarterly revenue was up 969.2% compared to the same quarter last year. Equities analysts expect that Essent Group Ltd. will post 6.94 EPS for the current fiscal year.

Essent Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, December 2nd. Essent Group’s payout ratio is currently 16.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ESNT shares. The Goldman Sachs Group decreased their price objective on shares of Essent Group from $68.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods raised their target price on Essent Group from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Barclays dropped their price target on shares of Essent Group from $72.00 to $69.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on shares of Essent Group from $67.00 to $60.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Finally, Royal Bank of Canada cut their price target on shares of Essent Group from $73.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Essent Group currently has an average rating of “Moderate Buy” and a consensus price target of $64.71.

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.