Essent Group Ltd. (NYSE: ESNT) increases its dividend to $0.22 per share

Essent Group Ltd. (NYSE:ESNT – Get Rating) declared a quarterly dividend on Friday, August 5, Zacks reports. Shareholders of record on Thursday, September 1 will receive a dividend of 0.22 per share from the financial services provider on Monday, September 12. This represents a dividend of $0.88 on an annualized basis and a dividend yield of 2.05%. The ex-date of this dividend is Wednesday, August 31. This is an increase from Essent Group’s previous quarterly dividend of $0.21.

Essent Group has a payout ratio of 13.0%, indicating that its dividend is sufficiently covered by earnings. Stock analysts expect Essent Group to earn $6.55 per share next year, meaning the company should continue to be able to cover its $0.84 annual dividend with a payout ratio. expected future of 12.8%.

Essent Group Price Performance

Shares of NYSE:ESNT opened at $42.83 on Friday. The company’s fifty-day moving average price is $40.05 and its 200-day moving average price is $41.76. The company has a market capitalization of $4.61 billion, a price-earnings ratio of 5.77, a PEG ratio of 0.57 and a beta of 1.18. Essent Group has a one-year low of $35.53 and a one-year high of $50.17.

Essent Group (NYSE:ESNT – Get Rating) last released its quarterly results on Friday, May 6. The financial services provider reported EPS of $2.52 for the quarter, beating analyst consensus estimates of $1.62 by $0.90. The company posted revenue of $264.60 million for the quarter, versus analyst estimates of $240.09 million. Essent Group achieved a net margin of 78.25% and a return on equity of 19.64%. The company’s revenue for the quarter increased by 8.1% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $1.21. As a group, equity research analysts expect Essent Group to post EPS of 7.47 for the current year.

Changes to analyst ratings

A number of equity research analysts have recently released reports on the stock. BTIG Research cut its price target on Essent Group shares from $58.00 to $55.00 in a Tuesday, April 12 research note. JPMorgan Chase & Co. moved shares of Essent Group from a “neutral” rating to an “overweight” rating and set a $47.00 price target for the company in a Monday 11 research note. april. One research analyst gave the stock a hold rating and five gave the company’s stock a buy rating. According to data from MarketBeat.com, Essent Group has a consensus rating of “Moderate Buy” and a consensus price target of $54.17.

Insider activity

In other Essent Group news, Director Douglas J. Pauls sold 2,400 shares in a trade on Thursday, May 26. The shares were sold at an average price of $41.75, for a total transaction of $100,200.00. Following the completion of the sale, the director now owns 26,630 shares of the company, valued at approximately $1,111,802.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.90% of the shares are held by insiders.

Institutional investors weigh in on Essent Group

Institutional investors and hedge funds have recently changed their stock holdings. Lazard Asset Management LLC increased its position in Essent Group shares by 43.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,668 shares of the financial services provider worth $68,000 after purchasing an additional 509 shares during the period. Quantbot Technologies LP purchased a new stake in Essent Group stock in Q1 worth approximately $149,000. Forum Financial Management LP increased its position in Essent Group shares by 5.3% in the 1st quarter. Forum Financial Management LP now owns 5,589 shares of the financial services provider worth $230,000 after purchasing an additional 280 shares during the period. Neuberger Berman Group LLC purchased a new stake in Essent Group stock in Q1 worth approximately $394,000. Finally, Engineers Gate Manager LP increased its position in Essent Group shares by 272.0% in the 1st quarter. Engineers Gate Manager LP now owns 19,048 shares of the financial services provider worth $785,000 after purchasing an additional 13,927 shares during the period. 92.72% of the shares are held by hedge funds and other institutional investors.

About Essent Group

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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 loan insurance products include master policy, group policy and master policy. The company also provides information technology maintenance and development services; customer support services; underwriting consultancy; and contract underwriting services.

See also

Dividend history for Essent Group (NYSE:ESNT)

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