Man Group plc reduced its stake in Essent Group Ltd (NYSE:ESNT) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,470,630 shares of the financial services provider’s stock after selling 50,423 shares during the period. Man Group plc owned 1.49% of Essent Group worth $69,105,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of ESNT. Zebra Capital Management LLC boosted its stake in Essent Group by 15.4% in the second quarter. Zebra Capital Management LLC now owns 5,385 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 717 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Essent Group by 1,985.5% during the second quarter. Mackenzie Financial Corp now owns 171,843 shares of the financial services provider’s stock worth $8,075,000 after purchasing an additional 163,603 shares during the last quarter. Invesco Ltd. increased its holdings in Essent Group by 21.7% in the second quarter. Invesco Ltd. now owns 136,518 shares of the financial services provider’s stock valued at $6,416,000 after buying an additional 24,369 shares in the last quarter. AMP Capital Investors Ltd increased its holdings in Essent Group by 11.4% in the second quarter. AMP Capital Investors Ltd now owns 36,800 shares of the financial services provider’s stock valued at $1,718,000 after buying an additional 3,770 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in Essent Group in the second quarter valued at $324,000. Institutional investors and hedge funds own 91.93% of the company’s stock.
Shares of ESNT traded up $0.80 during mid-day trading on Thursday, reaching $49.45. 35,523 shares of the stock traded hands, compared to its average volume of 462,505. The stock has a fifty day simple moving average of $47.48 and a 200 day simple moving average of $46.78. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 0.89 and a beta of 1.23. Essent Group Ltd has a 12-month low of $31.08 and a 12-month high of $50.51.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, September 4th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Tuesday, September 3rd. Essent Group’s dividend payout ratio (DPR) is presently 12.37%.
ESNT has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Wednesday, August 7th. BTIG Research reissued a “buy” rating and issued a $54.00 price target on shares of Essent Group in a research note on Sunday, August 4th. Finally, ValuEngine downgraded shares of Essent Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $50.50.
In other news, CAO David B. Weinstock sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $47.01, for a total transaction of $94,020.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,118 shares in the company, valued at $1,133,787.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph Hissong sold 19,886 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $48.34, for a total value of $961,289.24. Following the completion of the transaction, the insider now owns 57,519 shares of the company’s stock, valued at $2,780,468.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,886 shares of company stock worth $1,247,649. 2.90% of the stock is owned by company insiders.
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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