Icon Advisers Inc. Co. lessened its position in shares of Essent Group Ltd (NYSE:ESNT) by 15.5% in the 1st quarter, HoldingsChannel reports. The fund owned 35,400 shares of the financial services provider’s stock after selling 6,500 shares during the period. Icon Advisers Inc. Co.’s holdings in Essent Group were worth $1,538,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hudson Bay Capital Management LP raised its stake in shares of Essent Group by 27.7% during the 4th quarter. Hudson Bay Capital Management LP now owns 182,725 shares of the financial services provider’s stock worth $6,246,000 after acquiring an additional 39,669 shares in the last quarter. BlackRock Inc. increased its stake in Essent Group by 4.3% during the 4th quarter. BlackRock Inc. now owns 7,801,470 shares of the financial services provider’s stock valued at $266,654,000 after purchasing an additional 319,226 shares in the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in Essent Group during the 4th quarter valued at approximately $9,400,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Essent Group by 16.6% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 6,820 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 970 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Essent Group by 6.5% during the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 241,969 shares of the financial services provider’s stock valued at $8,271,000 after purchasing an additional 14,785 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.
ESNT has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, April 24th. ValuEngine upgraded shares of Essent Group from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $47.50.
Essent Group (NYSE:ESNT) last released its quarterly earnings data on Friday, May 3rd. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. The business had revenue of $200.53 million for the quarter, compared to the consensus estimate of $196.94 million. Essent Group had a net margin of 64.97% and a return on equity of 21.90%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 EPS. Equities research analysts expect that Essent Group Ltd will post 5.21 earnings per share for the current fiscal year.
In other news, SVP Mary Lourdes Gibbons sold 9,000 shares of the company’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $41.00, for a total value of $369,000.00. Following the sale, the senior vice president now directly owns 217,412 shares of the company’s stock, valued at approximately $8,913,892. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vijay Bhasin sold 45,315 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $44.50, for a total transaction of $2,016,517.50. Following the completion of the sale, the senior vice president now directly owns 194,302 shares in the company, valued at $8,646,439. The disclosure for this sale can be found here. Insiders sold a total of 139,322 shares of company stock worth $6,164,131 over the last ninety days. Insiders own 2.90% of the company’s stock.
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Essent Group 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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