Toronto Dominion Bank trimmed its holdings in shares of Essent Group Ltd. (NYSE:ESNT) by 15.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,042 shares of the financial services provider’s stock after selling 376 shares during the quarter. Toronto Dominion Bank’s holdings in Essent Group were worth $92,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of Essent Group by 119.6% during the 2nd quarter. Van ECK Associates Corp now owns 1,421 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 774 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of Essent Group by 4.1% during the 2nd quarter. WINTON GROUP Ltd now owns 21,750 shares of the financial services provider’s stock worth $978,000 after purchasing an additional 851 shares during the last quarter. Cim LLC increased its position in shares of Essent Group by 1.4% during the 2nd quarter. Cim LLC now owns 25,699 shares of the financial services provider’s stock worth $1,231,000 after purchasing an additional 361 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Essent Group by 16.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 273,003 shares of the financial services provider’s stock worth $12,271,000 after purchasing an additional 37,687 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Essent Group by 3.4% during the 2nd quarter. Sei Investments Co. now owns 114,259 shares of the financial services provider’s stock worth $5,117,000 after purchasing an additional 3,796 shares during the last quarter. 93.28% of the stock is owned by hedge funds and other institutional investors.
ESNT has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on Essent Group from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, June 7th. Zacks Investment Research cut Essent Group from a “hold” rating to a “sell” rating in a report on Thursday, July 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Essent Group presently has a consensus rating of “Buy” and a consensus target price of $55.33.
Shares of Essent Group stock opened at $44.42 on Friday. The business has a 50-day moving average of $45.69 and a 200 day moving average of $46.68. Essent Group Ltd. has a 12 month low of $34.82 and a 12 month high of $54.22. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 0.82 and a beta of 1.33.
Essent Group (NYSE:ESNT) last announced its quarterly earnings data on Friday, August 6th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.16. The business had revenue of $243.26 million during the quarter, compared to analysts’ expectations of $239.39 million. Essent Group had a return on equity of 13.93% and a net margin of 55.56%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. Equities research analysts anticipate that Essent Group Ltd. will post 5.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Wednesday, September 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Tuesday, August 31st. This is a boost from Essent Group’s previous quarterly dividend of $0.17. Essent Group’s dividend payout ratio (DPR) is presently 18.56%.
About Essent Group
Essent Group Ltd. is a holding company, which engages in the provision of banking services. It offers mortgage insurance, reinsurance, and risk management products. The company was founded by Mark A. Casale on July 1, 2008 and is headquartered in Hamilton, Bermuda.
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