Moody Aldrich Partners LLC Increases Stake in Essent Group Ltd (ESNT)
Moody Aldrich Partners LLC lifted its holdings in Essent Group Ltd (NYSE:ESNT) by 10.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,261 shares of the financial services provider’s stock after buying an additional 7,373 shares during the quarter. Moody Aldrich Partners LLC owned 0.08% of Essent Group worth $2,875,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of ESNT. Mount Yale Investment Advisors LLC acquired a new position in Essent Group in the first quarter valued at $155,000. Element Capital Management LLC acquired a new position in Essent Group in the first quarter valued at $242,000. LPL Financial LLC increased its stake in Essent Group by 35.9% in the first quarter. LPL Financial LLC now owns 6,994 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 1,847 shares during the last quarter. Unison Advisors LLC acquired a new position in Essent Group in the second quarter valued at $280,000. Finally, HRT Financial LLC acquired a new position in Essent Group in the first quarter valued at $347,000. Hedge funds and other institutional investors own 90.09% of the company’s stock.
Several equities analysts recently commented on ESNT shares. JPMorgan Chase & Co. dropped their target price on Essent Group from $51.00 to $40.00 and set a “$38.36” rating for the company in a research note on Monday, July 23rd. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, June 19th. Susquehanna Bancshares upped their target price on Essent Group from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 6th. ValuEngine upgraded Essent Group from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Finally, MKM Partners dropped their price target on Essent Group to $40.00 and set a “neutral” rating for the company in a research note on Monday, August 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $49.98.
Shares of NYSE ESNT traded up $0.16 on Friday, hitting $39.42. The company had a trading volume of 627,108 shares, compared to its average volume of 793,932. Essent Group Ltd has a 12-month low of $32.73 and a 12-month high of $50.08. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.97 and a beta of 1.26.
Essent Group (NYSE:ESNT) last issued its earnings results on Friday, August 3rd. The financial services provider reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.08. Essent Group had a return on equity of 19.37% and a net margin of 71.08%. The company had revenue of $173.77 million during the quarter, compared to the consensus estimate of $174.06 million. During the same quarter in the prior year, the business earned $0.77 earnings per share. The company’s revenue was up 26.3% compared to the same quarter last year. Sell-side analysts expect that Essent Group Ltd will post 4.54 earnings per share for the current fiscal year.
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. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.
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