Bayview Asset Management LLC Has $670,000 Holdings in Essent Group Ltd. (NYSE:ESNT)

Bayview Asset Management LLC decreased its stake in shares of Essent Group Ltd. (NYSE:ESNT) by 29.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 12,300 shares of the financial services provider’s stock after selling 5,200 shares during the period. Essent Group makes up 0.5% of Bayview Asset Management LLC’s holdings, making the stock its 13th largest position. Bayview Asset Management LLC’s holdings in Essent Group were worth $670,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Mainstream Capital Management LLC bought a new stake in Essent Group during the fourth quarter worth approximately $25,000. Picton Mahoney Asset Management lifted its stake in shares of Essent Group by 68.8% in the fourth quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider’s stock worth $32,000 after buying an additional 238 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Essent Group by 53.3% during the 4th 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 position in Essent Group in the 4th quarter valued at $63,000. Finally, Parkside Financial Bank & Trust raised its holdings in Essent Group by 8.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,363 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 180 shares during the period. 93.00% of the stock is owned by institutional investors.

Essent Group Stock Up 2.7 %

Essent Group stock opened at $58.56 on Friday. Essent Group Ltd. has a 12 month low of $51.61 and a 12 month high of $65.34. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 2.70 and a beta of 0.87. The business has a 50 day moving average price of $55.86 and a two-hundred day moving average price of $56.49.

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

Essent Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 14th were given a dividend of $0.31 per share. This is a positive change from Essent Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, March 14th. Essent Group’s payout ratio is 18.13%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ESNT. Barclays cut shares of Essent Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $69.00 to $58.00 in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $67.00 target price on shares of Essent Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised Essent Group from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods reduced their price objective on Essent Group from $71.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Essent Group presently has an average rating of “Moderate Buy” and a consensus target price of $61.71.

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.