Essent Group Ltd (ESNT) Position Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in Essent Group Ltd (NYSE:ESNT) by 30.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,283,550 shares of the financial services provider’s stock after buying an additional 298,250 shares during the period. Renaissance Technologies LLC owned approximately 1.31% of Essent Group worth $45,977,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cim LLC grew its position in Essent Group by 14.1% during the 2nd quarter. Cim LLC now owns 12,475 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 1,540 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Essent Group by 1.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 126,436 shares of the financial services provider’s stock worth $5,382,000 after purchasing an additional 1,648 shares during the last quarter. LPL Financial LLC grew its position in Essent Group by 35.9% during the 1st quarter. LPL Financial LLC now owns 6,994 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 1,847 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in Essent Group by 20.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 13,081 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Stanley Laman Group Ltd. grew its position in Essent Group by 12.3% during the 2nd quarter. Stanley Laman Group Ltd. now owns 22,004 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 2,406 shares during the last quarter. 90.09% of the stock is currently owned by hedge funds and other institutional investors.

ESNT stock opened at $45.26 on Friday. Essent Group Ltd has a one year low of $32.73 and a one year high of $50.08. The firm has a market capitalization of $4.41 billion, a PE ratio of 12.80, a PEG ratio of 0.99 and a beta of 1.26.

Essent Group (NYSE:ESNT) last released its earnings results on Friday, August 3rd. The financial services provider reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.08. Essent Group had a net margin of 71.08% and a return on equity of 19.37%. The company had revenue of $173.77 million during the quarter, compared to analysts’ expectations of $174.06 million. During the same quarter last year, the business earned $0.77 EPS. The business’s revenue was up 26.3% on a year-over-year basis. equities research analysts expect that Essent Group Ltd will post 4.54 earnings per share for the current fiscal year.

In other news, SVP Vijay Bhasin sold 27,869 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $44.64, for a total value of $1,244,072.16. Following the completion of the sale, the senior vice president now owns 278,515 shares in the company, valued at approximately $12,432,909.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by company insiders.

Several brokerages have issued reports on ESNT. Susquehanna Bancshares raised their price objective on shares of Essent Group from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 6th. Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Tuesday, June 19th. MKM Partners reduced their target price on shares of Essent Group to $40.00 and set a “neutral” rating for the company in a research note on Monday, August 6th. JPMorgan Chase & Co. reduced their target price on shares of Essent Group from $51.00 to $40.00 and set a “$38.36” rating for the company in a research note on Monday, July 23rd. Finally, ValuEngine upgraded shares of Essent Group from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $49.48.

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

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