BNP Paribas Arbitrage SA boosted its position in Essent Group Ltd. (NYSE:ESNT) by 98.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,542 shares of the company’s stock after buying an additional 3,245 shares during the period. BNP Paribas Arbitrage SA’s holdings in Essent Group were worth $174,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Macquarie Group Ltd. acquired a new stake in Essent Group during the second quarter worth approximately $2,427,000. Schwab Charles Investment Management Inc. boosted its stake in Essent Group by 9.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 393,949 shares of the company’s stock worth $8,593,000 after buying an additional 32,608 shares during the last quarter. Amalgamated Bank acquired a new stake in Essent Group during the second quarter worth approximately $204,000. Cubist Systematic Strategies LLC acquired a new stake in Essent Group during the second quarter worth approximately $232,000. Finally, A.R.T. Advisors LLC acquired a new stake in Essent Group during the second quarter worth approximately $270,000. 85.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Essent Group Ltd. (NYSE:ESNT) opened at 26.84 on Friday. The company has a market capitalization of $2.50 billion, a PE ratio of 13.29 and a beta of 1.09. Essent Group Ltd. has a 12 month low of $16.49 and a 12 month high of $28.62. The stock’s 50 day moving average price is $26.73 and its 200 day moving average price is $23.07.
Essent Group (NYSE:ESNT) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. Essent Group had a return on equity of 15.98% and a net margin of 46.40%. The company had revenue of $108.50 million for the quarter, compared to analysts’ expectations of $105.30 million. During the same period last year, the firm posted $0.41 earnings per share. Essent Group’s revenue was up 28.7% compared to the same quarter last year. On average, analysts forecast that Essent Group Ltd. will post $2.28 EPS for the current year.
ESNT has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Friday, August 5th. Barclays PLC set a $30.00 price objective on Essent Group and gave the company a “buy” rating in a research note on Saturday, September 17th. TheStreet upgraded Essent Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 14th. Credit Suisse Group AG restated a “hold” rating on shares of Essent Group in a research note on Monday, August 8th. Finally, Keefe, Bruyette & Woods cut Essent Group from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $26.00 to $26.50 in a research note on Friday, August 5th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $27.05.
In related news, SVP Jeff Cashmer sold 24,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $26.15, for a total transaction of $627,600.00. Following the sale, the senior vice president now directly owns 158,753 shares of the company’s stock, valued at $4,151,390.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mary Lourdes Gibbons sold 7,500 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $27.83, for a total value of $208,725.00. Following the sale, the senior vice president now directly owns 271,481 shares in the company, valued at $7,555,316.23. The disclosure for this sale can be found here. Corporate insiders own 20.70% of the company’s stock.
About Essent Group
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in serving the United States housing finance industry. It offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The primary mortgage insurance operations are conducted through Essent Guaranty, Inc (Essent Guaranty), a subsidiary of the company, which maintains operations centers and operates additional underwriting and service centers in Winston-Salem, North Carolina and Irvine, California.
Want to see what other hedge funds are holding ESNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essent Group Ltd. (NYSE:ESNT).
Receive News & Ratings for Essent Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essent Group Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.