Amalgamated Bank Sells 4,015 Shares of Essent Group Ltd. (NYSE:ESNT)

Amalgamated Bank reduced its position in Essent Group Ltd. (NYSE:ESNT) by 7.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 51,758 shares of the financial services provider’s stock after selling 4,015 shares during the period. Amalgamated Bank’s holdings in Essent Group were worth $2,908,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ESNT. Advisors Asset Management Inc. bought a new stake in shares of Essent Group in the first quarter valued at approximately $32,000. Headlands Technologies LLC purchased a new stake in shares of Essent Group during the second quarter worth $47,000. GAMMA Investing LLC boosted its holdings in shares of Essent Group by 49.7% in the second quarter. GAMMA Investing LLC now owns 1,187 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 394 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Essent Group in the second quarter valued at $176,000. Finally, HBK Sorce Advisory LLC bought a new stake in shares of Essent Group during the 1st quarter valued at $215,000. 93.00% of the stock is owned by hedge funds and other institutional investors.

Essent Group Stock Performance

Shares of NYSE:ESNT opened at $64.20 on Tuesday. The firm has a fifty day moving average of $61.92 and a 200 day moving average of $58.06. Essent Group Ltd. has a 52-week low of $45.63 and a 52-week high of $65.33. The firm has a market capitalization of $6.85 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 1.53 and a beta of 1.12.

Essent Group (NYSE:ESNT) last announced its quarterly earnings data on Friday, August 2nd. The financial services provider reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.23. The company had revenue of $272.90 million for the quarter, compared to analysts’ expectations of $308.33 million. Essent Group had a return on equity of 14.40% and a net margin of 61.31%. Essent Group’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $1.61 EPS. On average, sell-side analysts forecast that Essent Group Ltd. will post 7.02 EPS for the current fiscal year.

Essent Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 30th were paid a $0.28 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.74%. Essent Group’s dividend payout ratio (DPR) is 16.94%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays lifted their target price on Essent Group from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Royal Bank of Canada upped their target price on shares of Essent Group from $61.00 to $67.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of Essent Group from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods upgraded Essent Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $65.00 to $70.00 in a research report on Monday, August 5th. Finally, BTIG Research lifted their price objective on Essent Group from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.33.

Insider Activity at Essent Group

In other Essent Group news, CFO David B. Weinstock sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total transaction of $127,180.00. Following the completion of the sale, the chief financial officer now directly owns 25,416 shares in the company, valued at $1,616,203.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Vijay Bhasin sold 11,188 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $60.14, for a total transaction of $672,846.32. Following the completion of the sale, the senior vice president now directly owns 199,359 shares in the company, valued at approximately $11,989,450.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total transaction of $127,180.00. Following the completion of the sale, the chief financial officer now directly owns 25,416 shares in the company, valued at approximately $1,616,203.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,188 shares of company stock valued at $1,094,076. 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. 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.