Ameriprise Financial Inc. Lowers Holdings in Essent Group Ltd (ESNT)

Ameriprise Financial Inc. lessened its position in shares of Essent Group Ltd (NYSE:ESNT) by 8.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,905 shares of the financial services provider’s stock after selling 15,908 shares during the period. Ameriprise Financial Inc. owned about 0.17% of Essent Group worth $6,719,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ESNT. TD Asset Management Inc. increased its holdings in Essent Group by 10.4% during the 2nd quarter. TD Asset Management Inc. now owns 12,700 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 1,200 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Essent Group by 18.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 735,340 shares of the financial services provider’s stock worth $27,311,000 after purchasing an additional 115,177 shares in the last quarter. First Trust Advisors LP increased its holdings in Essent Group by 24.4% during the 2nd quarter. First Trust Advisors LP now owns 94,494 shares of the financial services provider’s stock worth $3,510,000 after purchasing an additional 18,535 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Essent Group during the 2nd quarter worth about $208,000. Finally, SG Americas Securities LLC bought a new position in Essent Group during the 2nd quarter worth about $346,000. Hedge funds and other institutional investors own 85.83% of the company’s stock.

In related news, Director Andrew Turnbull sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the sale, the director now directly owns 24,596 shares in the company, valued at approximately $1,131,416. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David B. Weinstock sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $41.71, for a total transaction of $125,130.00. Following the completion of the sale, the vice president now owns 25,785 shares of the company’s stock, valued at $1,075,492.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,858 shares of company stock valued at $2,414,044. Company insiders own 18.10% of the company’s stock.

ESNT has been the subject of a number of research reports. Deutsche Bank increased their target price on Essent Group from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded 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. BTIG Research upgraded shares of Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Tuesday, September 12th. BidaskClub upgraded shares of Essent Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 16th. Finally, ValuEngine downgraded shares of Essent Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $48.20.

Essent Group Ltd (NYSE:ESNT) opened at $45.13 on Wednesday. Essent Group Ltd has a one year low of $31.54 and a one year high of $47.29. The company has a market cap of $4,430.00, a PE ratio of 15.14, a PEG ratio of 1.46 and a beta of 1.15.

Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Thursday, November 9th. The financial services provider reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.07. Essent Group had a net margin of 51.64% and a return on equity of 18.55%. The company had revenue of $150.20 million during the quarter, compared to the consensus estimate of $143.79 million. During the same period in the prior year, the business posted $0.65 EPS. The company’s quarterly revenue was up 23.9% on a year-over-year basis. equities research analysts forecast that Essent Group Ltd will post 3.08 EPS for the current year.

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Essent Group Company 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.

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

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