Fortaleza Asset Management Inc. Takes Position in Essent Group Ltd. (ESNT)

Fortaleza Asset Management Inc. acquired a new position in shares of Essent Group Ltd. (NYSE:ESNT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,775 shares of the financial services provider’s stock, valued at approximately $112,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its holdings in shares of Essent Group by 57.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,351,264 shares of the financial services provider’s stock worth $95,226,000 after buying an additional 860,300 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Essent Group by 9.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 100,828 shares of the financial services provider’s stock worth $4,084,000 after buying an additional 8,762 shares during the period. Peregrine Capital Management LLC boosted its holdings in shares of Essent Group by 3.5% during the 3rd quarter. Peregrine Capital Management LLC now owns 916,000 shares of the financial services provider’s stock worth $37,098,000 after buying an additional 31,128 shares during the period. First Quadrant L P CA bought a new stake in shares of Essent Group during the 3rd quarter worth $420,000. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Essent Group by 21.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 631,000 shares of the financial services provider’s stock worth $25,556,000 after buying an additional 110,025 shares during the period. 81.55% of the stock is owned by institutional investors and hedge funds.

Shares of Essent Group Ltd. (NYSE ESNT) traded up 1.15% during mid-day trading on Wednesday, reaching $43.11. 25,512 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $41.08 and its 200-day moving average is $38.45. Essent Group Ltd. has a 52-week low of $25.84 and a 52-week high of $45.10. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 15.34 and a beta of 1.14.

Essent Group (NYSE:ESNT) last released its quarterly earnings data on Friday, August 4th. The financial services provider reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.09. Essent Group had a net margin of 50.92% and a return on equity of 18.77%. The firm had revenue of $137.61 million during the quarter, compared to analysts’ expectations of $131.99 million. During the same period in the previous year, the business posted $0.57 earnings per share. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities analysts expect that Essent Group Ltd. will post $3.04 EPS for the current year.

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Several analysts recently issued reports on the stock. BidaskClub downgraded shares of Essent Group from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank AG upped their price objective on shares of Essent Group from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $44.00 price objective on shares of Essent Group in a report on Thursday, October 12th. Compass Point reaffirmed a “buy” rating and set a $50.00 price objective (up from $38.00) on shares of Essent Group in a report on Wednesday, October 11th. Finally, Zacks Investment Research downgraded shares of Essent Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.88.

In other news, SVP Mary Lourdes Gibbons sold 5,209 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $45.02, for a total value of $234,509.18. Following the completion of the sale, the senior vice president now owns 252,857 shares of the company’s stock, valued at $11,383,622.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David B. Weinstock sold 2,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $38.95, for a total transaction of $77,900.00. Following the completion of the sale, the vice president now directly owns 30,785 shares of the company’s stock, valued at approximately $1,199,075.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,363 shares of company stock valued at $1,531,285. Company insiders own 18.10% of the company’s stock.

About Essent Group

Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance.

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Institutional Ownership by Quarter for Essent Group (NYSE:ESNT)

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