Clearbridge Investments LLC Sells 2,623 Shares of Essent Group Ltd. (NYSE:ESNT)

Clearbridge Investments LLC trimmed its stake in Essent Group Ltd. (NYSE:ESNT) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 204,030 shares of the financial services provider’s stock after selling 2,623 shares during the period. Clearbridge Investments LLC’s holdings in Essent Group were worth $11,107,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in shares of Essent Group in the fourth quarter valued at about $25,000. Picton Mahoney Asset Management increased its position in Essent Group by 68.8% during the 4th quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 238 shares during the period. US Bancorp DE raised its holdings in Essent Group by 53.3% during the 4th quarter. US Bancorp DE now owns 1,125 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 391 shares during the last quarter. R Squared Ltd acquired a new position in shares of Essent Group in the 4th quarter worth approximately $63,000. Finally, Parkside Financial Bank & Trust boosted its stake 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 last quarter. 93.00% of the stock is owned by institutional investors.

Essent Group Stock Up 0.9 %

Shares of NYSE:ESNT opened at $58.76 on Thursday. The stock’s 50 day moving average is $56.96 and its 200-day moving average is $57.85. Essent Group Ltd. has a twelve month low of $52.22 and a twelve month high of $65.34. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 2.70 and a beta of 0.80.

Essent Group (NYSE:ESNT) last released its quarterly earnings data on Friday, February 14th. The financial services provider reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.09). The business had revenue of $315.00 million during the quarter, compared to the consensus estimate of $313.88 million. Essent Group had a net margin of 58.69% and a return on equity of 13.35%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $1.64 earnings per share. Equities research analysts anticipate that Essent Group Ltd. will post 6.88 earnings per share for the current fiscal year.

Essent Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 14th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 2.11%. This is an increase from Essent Group’s previous quarterly dividend of $0.28. Essent Group’s payout ratio is 18.13%.

Analyst Upgrades and Downgrades

ESNT has been the subject of a number of analyst reports. Barclays downgraded shares of Essent Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $69.00 to $58.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods dropped their price objective on Essent Group from $72.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $67.00 target price on shares of Essent Group in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut their price target on Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.