Janney Montgomery Scott LLC Purchases New Stake in Essent Group Ltd (ESNT)

Janney Montgomery Scott LLC purchased a new stake in Essent Group Ltd (NYSE:ESNT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,974 shares of the financial services provider’s stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wells Fargo & Company MN increased its stake in Essent Group by 56.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,164,126 shares of the financial services provider’s stock valued at $41,700,000 after buying an additional 419,183 shares during the last quarter. Sapience Investments LLC purchased a new stake in shares of Essent Group during the 2nd quarter worth approximately $14,208,000. Dimensional Fund Advisors LP increased its stake in shares of Essent Group by 43.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,289,183 shares of the financial services provider’s stock worth $46,180,000 after purchasing an additional 387,615 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Essent Group by 35.9% during the 2nd quarter. Janus Henderson Group PLC now owns 1,266,524 shares of the financial services provider’s stock worth $45,367,000 after purchasing an additional 334,394 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Essent Group by 30.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,283,550 shares of the financial services provider’s stock worth $45,977,000 after purchasing an additional 298,250 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on ESNT shares. Barclays lifted their price objective on shares of Essent Group from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, November 12th. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Thursday, October 25th. Susquehanna Bancshares lifted their price objective on shares of Essent Group from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 6th. ValuEngine upgraded shares of Essent Group from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Finally, MKM Partners reduced their price objective on shares of Essent Group to $40.00 and set a “neutral” rating for the company in a research note on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Essent Group currently has an average rating of “Buy” and an average target price of $50.43.

In related news, SVP Jeff Cashmer sold 25,000 shares of Essent Group stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $40.06, for a total value of $1,001,500.00. Following the transaction, the senior vice president now owns 143,395 shares in the company, valued at approximately $5,744,403.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David B. Weinstock sold 2,000 shares of Essent Group stock in a transaction on Friday, September 14th. The stock was sold at an average price of $45.51, for a total transaction of $91,020.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,468 shares of company stock worth $3,941,196. 3.00% of the stock is owned by corporate insiders.

Shares of NYSE:ESNT opened at $38.56 on Monday. Essent Group Ltd has a one year low of $32.73 and a one year high of $50.08. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.84 and a beta of 1.30.

Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Friday, November 9th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.06. Essent Group had a net margin of 72.96% and a return on equity of 20.18%. The company had revenue of $185.00 million during the quarter, compared to the consensus estimate of $181.40 million. During the same period in the previous year, the firm posted $0.82 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts anticipate that Essent Group Ltd will post 4.61 earnings per share for the current year.

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Essent Group Company Profile

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.

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

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