Essent Group Ltd (ESNT) Position Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in Essent Group Ltd (NYSE:ESNT) by 30.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,200 shares of the financial services provider’s stock after selling 36,340 shares during the period. New York State Common Retirement Fund owned 0.09% of Essent Group worth $3,410,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Albion Financial Group UT lifted its position in Essent Group by 0.9% during the second quarter. Albion Financial Group UT now owns 15,704 shares of the financial services provider’s stock valued at $583,000 after buying an additional 145 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its position in Essent Group by 0.9% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,746 shares of the financial services provider’s stock valued at $845,000 after buying an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Essent Group by 10.1% during the second 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 during the period. Ameritas Investment Partners Inc. lifted its position in Essent Group by 5.1% during the second quarter. Ameritas Investment Partners Inc. now owns 6,781 shares of the financial services provider’s stock valued at $252,000 after buying an additional 330 shares during the period. Finally, Amalgamated Bank lifted its position in Essent Group by 8.6% during the second quarter. Amalgamated Bank now owns 9,941 shares of the financial services provider’s stock valued at $369,000 after buying an additional 787 shares during the period. Institutional investors and hedge funds own 85.83% of the company’s stock.

In other Essent Group news, Director Andrew Turnbull sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the transaction, the director now owns 24,596 shares of the company’s stock, valued at approximately $1,131,416. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David B. Weinstock sold 3,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $41.71, for a total value of $125,130.00. Following the completion of the transaction, the vice president now directly 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 ninety days, insiders sold 53,858 shares of company stock valued at $2,414,044. 18.10% of the stock is owned by insiders.

Essent Group Ltd (ESNT) opened at $44.60 on Friday. The stock has a market capitalization of $4,430.00, a PE ratio of 14.97, a PEG ratio of 1.46 and a beta of 1.15. Essent Group Ltd has a 52-week low of $31.54 and a 52-week high of $47.29.

Essent Group (NYSE:ESNT) last posted its quarterly earnings results on Thursday, November 9th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.07. The firm had revenue of $150.20 million during the quarter, compared to analyst estimates of $143.79 million. Essent Group had a return on equity of 19.18% and a net margin of 52.19%. Essent Group’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. analysts predict that Essent Group Ltd will post 3.08 earnings per share for the current year.

Several brokerages have commented on ESNT. Zacks Investment Research raised Essent Group from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Monday. Royal Bank of Canada began coverage on Essent Group in a research report on Wednesday, December 20th. They issued an “outperform” rating and a $54.00 price target for the company. BTIG Research lifted their price target on Essent Group from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. ValuEngine lowered Essent Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Wells Fargo & Co began coverage on Essent Group in a research report on Tuesday, November 28th. They issued an “outperform” rating and a $52.00 price target for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $48.20.

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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.

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

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