Cozad Asset Management Inc. Sells 2,737 Shares of Essent Group Ltd. (NYSE:ESNT)

Cozad Asset Management Inc. lessened its stake in shares of Essent Group Ltd. (NYSE:ESNT) by 9.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,832 shares of the financial services provider’s stock after selling 2,737 shares during the quarter. Cozad Asset Management Inc.’s holdings in Essent Group were worth $1,596,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in shares of Essent Group by 40.0% in the third quarter. Van ECK Associates Corp now owns 65,087 shares of the financial services provider’s stock valued at $4,022,000 after buying an additional 18,597 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Essent Group during the third quarter valued at about $32,000. State of Alaska Department of Revenue boosted its position in Essent Group by 7.2% during 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 period. BayBridge Capital Group LLC increased its stake in shares of Essent Group by 5.7% in the third quarter. BayBridge Capital Group LLC now owns 8,077 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 434 shares in the last quarter. Finally, Vest Financial LLC raised its position in shares of Essent Group by 20.6% in the third quarter. Vest Financial LLC now owns 23,458 shares of the financial services provider’s stock valued at $1,508,000 after purchasing an additional 4,010 shares during the period. 93.00% of the stock is currently owned by hedge funds and other institutional investors.

Essent Group Trading Down 2.1 %

Shares of Essent Group stock opened at $55.24 on Friday. The business’s 50-day moving average price is $62.43 and its 200-day moving average price is $59.34. The firm has a market capitalization of $5.87 billion, a PE ratio of 8.01, a price-to-earnings-growth ratio of 1.78 and a beta of 1.12. Essent Group Ltd. has a 12 month low of $47.56 and a 12 month high of $65.33.

Essent Group (NYSE:ESNT) last announced its quarterly earnings data 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 business had revenue of $3.17 billion during 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%. Essent Group’s revenue for the quarter was up 969.2% on a year-over-year basis. During the same period last year, the company posted $1.66 EPS. As a group, analysts predict that Essent Group Ltd. will post 6.95 earnings per share 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. Stockholders of record on Monday, December 2nd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, December 2nd. Essent Group’s dividend payout ratio (DPR) is presently 16.23%.

Insider Activity at Essent Group

In other Essent Group news, CFO David B. Weinstock sold 2,000 shares of Essent Group 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 transaction, the chief financial officer now directly owns 25,416 shares of the company’s stock, valued at $1,616,203.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ESNT. Keefe, Bruyette & Woods raised shares of Essent Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $65.00 to $70.00 in a report on Monday, August 5th. JPMorgan Chase & Co. cut their price target on Essent Group from $68.00 to $67.00 and set a “neutral” rating for the company in a report on Monday. The Goldman Sachs Group dropped their price objective on Essent Group from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday. BTIG Research lifted their target price on Essent Group from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada lowered their target price on shares of Essent Group from $73.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.00.

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.