Victory Capital Management Inc. Acquires 1,680 Shares of Essent Group Ltd. (NYSE:ESNT)

Victory Capital Management Inc. boosted its holdings in Essent Group Ltd. (NYSE:ESNT) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,740 shares of the financial services provider’s stock after acquiring an additional 1,680 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Essent Group worth $3,851,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ESNT. Los Angeles Capital Management LLC lifted its position in Essent Group by 2.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 15,552 shares of the financial services provider’s stock valued at $1,000,000 after acquiring an additional 298 shares in the last quarter. KBC Group NV raised its stake in Essent Group by 15.8% during the 3rd quarter. KBC Group NV now owns 3,009 shares of the financial services provider’s stock valued at $193,000 after buying an additional 410 shares during the last quarter. Natixis Advisors LLC raised its stake in Essent Group by 22.7% during the 3rd quarter. Natixis Advisors LLC now owns 13,706 shares of the financial services provider’s stock valued at $881,000 after buying an additional 2,532 shares during the last quarter. Jennison Associates LLC raised its stake in Essent Group by 1.4% during the 3rd quarter. Jennison Associates LLC now owns 750,778 shares of the financial services provider’s stock valued at $48,268,000 after buying an additional 10,684 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Essent Group by 561.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 56,983 shares of the financial services provider’s stock valued at $3,663,000 after buying an additional 48,366 shares during the last quarter. 93.00% of the stock is owned by institutional investors.

Essent Group Price Performance

NYSE:ESNT opened at $54.72 on Friday. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Essent Group Ltd. has a one year low of $52.22 and a one year high of $65.34. The business has a fifty day moving average price of $56.79 and a 200-day moving average price of $58.43.

Essent Group (NYSE:ESNT) last issued its quarterly earnings results 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 return on equity of 13.35% and a net margin of 58.69%. The business had revenue of $315.00 million during the quarter, compared to analysts’ expectations of $313.88 million. During the same quarter in the previous year, the company posted $1.64 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities research analysts expect that Essent Group Ltd. will post 6.88 earnings per share for the current fiscal year.

Essent Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 14th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Essent Group’s previous quarterly dividend of $0.28. Essent Group’s dividend payout ratio is presently 18.13%.

Wall Street Analyst Weigh In

ESNT has been the subject of a number of research reports. 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. Barclays lowered shares of Essent Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $69.00 to $58.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods reduced their price objective on Essent Group from $72.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reduced their price objective on Essent Group from $67.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $62.57.

Essent Group 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.