Penserra Capital Management LLC Reduces Holdings in Essent Group Ltd (NYSE:ESNT)

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Penserra Capital Management LLC reduced its holdings in shares of Essent Group Ltd (NYSE:ESNT) by 15.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 222,032 shares of the financial services provider’s stock after selling 42,048 shares during the period. Essent Group comprises 0.9% of Penserra Capital Management LLC’s investment portfolio, making the stock its 24th largest holding. Penserra Capital Management LLC owned approximately 0.23% of Essent Group worth $10,583,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ESNT. BlackRock Inc. increased its position in shares of Essent Group by 1.7% in the 2nd quarter. BlackRock Inc. now owns 7,962,417 shares of the financial services provider’s stock valued at $374,154,000 after purchasing an additional 133,818 shares during the last quarter. State Street Corp increased its position in shares of Essent Group by 2.2% in the 3rd quarter. State Street Corp now owns 2,411,336 shares of the financial services provider’s stock valued at $114,948,000 after purchasing an additional 51,596 shares during the last quarter. APG Asset Management N.V. increased its position in shares of Essent Group by 14.8% in the 2nd quarter. APG Asset Management N.V. now owns 2,255,200 shares of the financial services provider’s stock valued at $93,056,000 after purchasing an additional 290,700 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Essent Group by 12,399.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,435,411 shares of the financial services provider’s stock valued at $67,450,000 after purchasing an additional 1,423,927 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Essent Group by 1.5% in the 2nd quarter. Northern Trust Corp now owns 1,308,924 shares of the financial services provider’s stock valued at $61,507,000 after purchasing an additional 19,833 shares during the last quarter. 91.19% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have commented on ESNT. ValuEngine raised shares of Essent Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 24th. Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Wednesday, October 23rd.

Shares of NYSE:ESNT traded down $0.10 during trading hours on Wednesday, reaching $53.47. The stock had a trading volume of 510,707 shares, compared to its average volume of 563,133. The firm’s 50 day moving average is $52.88 and its 200-day moving average is $49.11. Essent Group Ltd has a 1 year low of $31.08 and a 1 year high of $55.84. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 0.97 and a beta of 1.22.

Essent Group (NYSE:ESNT) last issued its earnings results on Friday, November 8th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.09. Essent Group had a net margin of 64.58% and a return on equity of 20.86%. The business had revenue of $226.39 million during the quarter, compared to analysts’ expectations of $216.35 million. During the same quarter in the prior year, the business posted $1.18 EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities research analysts anticipate that Essent Group Ltd will post 5.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, December 4th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, December 3rd. Essent Group’s payout ratio is 12.37%.

In related news, SVP Mary Lourdes Gibbons sold 2,381 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $54.01, for a total transaction of $128,597.81. Following the completion of the sale, the senior vice president now owns 210,404 shares in the company, valued at approximately $11,363,920.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO David B. Weinstock sold 2,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $48.30, for a total transaction of $96,600.00. Following the sale, the chief accounting officer now owns 22,118 shares of the company’s stock, valued at approximately $1,068,299.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,649 shares of company stock valued at $2,699,624. Company insiders own 2.90% of the company’s stock.

About Essent Group

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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