Nisa Investment Advisors LLC Lowers Stake in Essent Group Ltd. (NYSE:ESNT)

Nisa Investment Advisors LLC decreased its holdings in Essent Group Ltd. (NYSE:ESNT) by 67.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,238 shares of the financial services provider’s stock after selling 4,545 shares during the period. Nisa Investment Advisors LLC’s holdings in Essent Group were worth $144,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its holdings in shares of Essent Group by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 12,366 shares of the financial services provider’s stock worth $795,000 after purchasing an additional 835 shares during the last quarter. BayBridge Capital Group LLC increased its holdings in shares of Essent Group by 5.7% in the 3rd quarter. BayBridge Capital Group LLC now owns 8,077 shares of the financial services provider’s stock worth $519,000 after buying an additional 434 shares during the last quarter. Vest Financial LLC increased its holdings in shares of Essent Group by 20.6% in the 3rd quarter. Vest Financial LLC now owns 23,458 shares of the financial services provider’s stock worth $1,508,000 after buying an additional 4,010 shares during the last quarter. Raymond James & Associates raised its position in shares of Essent Group by 163.4% during the 3rd quarter. Raymond James & Associates now owns 44,676 shares of the financial services provider’s stock valued at $2,872,000 after buying an additional 27,717 shares in the last quarter. Finally, Net Worth Advisory Group bought a new position in shares of Essent Group in the 3rd quarter valued at about $463,000. 93.00% of the stock is currently owned by institutional investors.

Insider Transactions at Essent Group

In related news, CFO David B. Weinstock sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total value of $127,180.00. Following the completion of the sale, the chief financial officer now owns 25,416 shares in the company, valued at approximately $1,616,203.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ESNT. The Goldman Sachs Group reduced their price objective on Essent Group from $68.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday. BTIG Research boosted their target price on Essent Group from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Royal Bank of Canada decreased their price target on Essent Group from $73.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday. Barclays dropped their price objective on shares of Essent Group from $72.00 to $69.00 and set an “overweight” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Essent Group from $68.00 to $67.00 and set a “neutral” rating on the stock in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Essent Group Stock Down 2.1 %

ESNT opened at $55.24 on Friday. The business has a fifty day moving average of $62.43 and a 200 day moving average of $59.34. The stock has a market cap of $5.87 billion, a P/E ratio of 8.01, a PEG ratio of 1.78 and a beta of 1.12. Essent Group Ltd. has a 52-week low of $47.56 and a 52-week high of $65.33.

Essent Group (NYSE:ESNT) last issued its earnings results on Friday, November 1st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.08). The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $316.80 million. Essent Group had a net margin of 60.15% and a return on equity of 13.81%. The firm’s revenue for the quarter was up 969.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 earnings per share. Equities analysts anticipate that Essent Group Ltd. will post 6.95 EPS for the current fiscal year.

Essent Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, December 2nd will be paid a $0.28 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 2.03%. Essent Group’s dividend payout ratio is currently 16.23%.

About Essent Group

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.