Erste Asset Management GmbH Reduces Holdings in Essent Group Ltd. (NYSE:ESNT)

Erste Asset Management GmbH decreased its position in shares of Essent Group Ltd. (NYSE:ESNT) by 30.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,600 shares of the financial services provider’s stock after selling 2,400 shares during the quarter. Erste Asset Management GmbH’s holdings in Essent Group were worth $303,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in shares of Essent Group during the fourth quarter worth about $25,000. US Bancorp DE boosted its stake in shares of Essent Group by 53.3% during the fourth quarter. US Bancorp DE now owns 1,125 shares of the financial services provider’s stock worth $61,000 after buying an additional 391 shares during the period. R Squared Ltd acquired a new stake in Essent Group in the fourth quarter valued at about $63,000. Advisors Asset Management Inc. increased its position in Essent Group by 53.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 477 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in Essent Group during the 3rd quarter worth approximately $130,000. Institutional investors and hedge funds own 93.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ESNT shares. Royal Bank of Canada reiterated an “outperform” rating and set a $67.00 target price on shares of Essent Group in a research report on Tuesday, February 18th. Barclays cut Essent Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $69.00 to $58.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lowered their price target on Essent Group from $72.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Essent Group has an average rating of “Hold” and an average price target of $62.57.

Essent Group Stock Performance

ESNT stock opened at $54.72 on Friday. Essent Group Ltd. has a 1 year low of $52.22 and a 1 year high of $65.34. The stock’s 50 day moving average price is $56.79 and its 200 day moving average price is $58.43. The firm has a market cap of $5.68 billion, a P/E ratio of 8.00, a PEG ratio of 2.70 and a beta of 1.09.

Essent Group (NYSE:ESNT) last issued its quarterly earnings results on Friday, February 14th. The financial services provider reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.09). Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The business had revenue of $315.00 million for the quarter, compared to analysts’ expectations of $313.88 million. During the same period in the prior year, the company earned $1.64 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts predict that Essent Group Ltd. will post 6.88 earnings per share for the current year.

Essent Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, March 14th. This is a positive change from Essent Group’s previous quarterly dividend of $0.28. Essent Group’s dividend payout ratio is currently 18.13%.

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. 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.