Pictet Asset Management SA lessened its stake in shares of Essent Group Ltd. (NYSE:ESNT – Free Report) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 650,745 shares of the financial services provider’s stock after selling 20,863 shares during the period. Pictet Asset Management SA owned 0.60% of Essent Group worth $26,062,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in ESNT. Norges Bank bought a new position in shares of Essent Group in the 4th quarter valued at about $40,728,000. Capital World Investors lifted its holdings in shares of Essent Group by 10.2% in the 1st quarter. Capital World Investors now owns 8,781,249 shares of the financial services provider’s stock valued at $361,875,000 after acquiring an additional 815,259 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Essent Group in the 4th quarter valued at about $17,606,000. Dimensional Fund Advisors LP lifted its holdings in shares of Essent Group by 17.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,736,640 shares of the financial services provider’s stock valued at $106,403,000 after acquiring an additional 415,855 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Essent Group by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 10,590,130 shares of the financial services provider’s stock valued at $436,419,000 after acquiring an additional 411,585 shares during the last quarter. Institutional investors own 93.34% of the company’s stock.
Essent Group Stock Performance
Shares of NYSE:ESNT opened at $50.34 on Friday. The firm has a market cap of $5.39 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15. The firm’s 50 day simple moving average is $48.34 and its 200-day simple moving average is $44.40. Essent Group Ltd. has a one year low of $34.27 and a one year high of $53.66.
Essent Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, September 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, August 31st. Essent Group’s dividend payout ratio (DPR) is presently 16.05%.
Insider Transactions at Essent Group
In other news, SVP Vijay Bhasin sold 3,681 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $50.02, for a total transaction of $184,123.62. Following the transaction, the senior vice president now directly owns 224,870 shares in the company, valued at $11,247,997.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 8,844 shares of company stock valued at $444,016. 2.90% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of research analysts recently commented on the stock. Royal Bank of Canada increased their price target on shares of Essent Group from $51.00 to $59.00 and gave the company an “outperform” rating in a report on Monday, August 7th. BTIG Research increased their price objective on shares of Essent Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. StockNews.com started coverage on shares of Essent Group in a research report on Thursday. They issued a “hold” rating on the stock. Bank of America increased their price objective on shares of Essent Group from $50.00 to $59.00 in a research report on Sunday, August 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Essent Group from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Essent Group has an average rating of “Moderate Buy” and an average price target of $54.29.
Check Out Our Latest Stock Report on ESNT
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.
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