Essent Group Ltd. (NYSE:ESNT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in shares of Essent Group Ltd. (NYSE:ESNT) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 220,200 shares of the financial services provider’s stock after selling 2,077 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Essent Group were worth $11,988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ESNT. Harbor Capital Advisors Inc. acquired a new stake in Essent Group in the third quarter worth $32,000. R Squared Ltd acquired a new position in shares of Essent Group in the 4th quarter valued at $63,000. Advisors Asset Management Inc. boosted its position in shares of Essent Group by 53.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 477 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of 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 valued at $129,000 after purchasing an additional 180 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in shares of Essent Group in the 3rd quarter valued at $130,000. 93.00% of the stock is owned by institutional investors and hedge funds.

Essent Group Stock Up 0.4 %

NYSE:ESNT opened at $57.58 on Friday. The stock’s 50 day moving average price is $56.53 and its two-hundred day moving average price is $58.85. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 8.42, a P/E/G ratio of 2.70 and a beta of 1.11. Essent Group Ltd. has a 12-month low of $52.22 and a 12-month high of $65.33.

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

Essent Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 14th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from Essent Group’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. Essent Group’s dividend payout ratio is presently 18.13%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ESNT. Keefe, Bruyette & Woods reduced their price objective on Essent Group from $72.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. JPMorgan Chase & Co. cut their price target on Essent Group from $67.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Barclays downgraded Essent Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $69.00 to $58.00 in a research note on Monday, January 6th. The Goldman Sachs Group lowered their target price on Essent Group from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Essent Group in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.57.

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.