Picton Mahoney Asset Management Buys 238 Shares of Essent Group Ltd. (NYSE:ESNT)

Picton Mahoney Asset Management grew its stake in shares of Essent Group Ltd. (NYSE:ESNT) by 68.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 584 shares of the financial services provider’s stock after acquiring an additional 238 shares during the period. Picton Mahoney Asset Management’s holdings in Essent Group were worth $32,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ESNT. Mainstream Capital Management LLC bought a new stake in shares of Essent Group during the fourth quarter valued at approximately $25,000. US Bancorp DE boosted its stake 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 valued at $61,000 after purchasing an additional 391 shares during the last quarter. R Squared Ltd bought a new stake in shares of Essent Group in the 4th quarter worth $63,000. Advisors Asset Management Inc. raised its stake in shares of Essent Group by 53.9% in the third quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 477 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Essent Group by 8.2% during the fourth 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 in the last quarter. 93.00% of the stock is currently owned by institutional investors.

Essent Group Trading Up 0.3 %

Shares of NYSE ESNT opened at $54.87 on Tuesday. Essent Group Ltd. has a 12-month low of $52.22 and a 12-month high of $65.34. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 8.02, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The firm has a 50 day moving average of $56.81 and a 200 day moving average of $58.33.

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

Essent Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 14th will be given a $0.31 dividend. This is a boost from Essent Group’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 2.26%. Essent Group’s dividend payout ratio is presently 18.13%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays downgraded Essent Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $69.00 to $58.00 in a report on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective on shares of Essent Group from $67.00 to $60.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Keefe, Bruyette & Woods dropped their target price on shares of Essent Group from $72.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, February 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $67.00 target price on shares of Essent Group in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $62.57.

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. 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.