Essent Group Ltd. (NYSE:ESNT) Declares Quarterly Dividend of $0.28

Essent Group Ltd. (NYSE:ESNTGet Free Report) announced a quarterly dividend on Friday, February 9th, Zacks reports. Stockholders of record on Wednesday, March 13th will be paid a dividend of 0.28 per share by the financial services provider on Friday, March 22nd. This represents a $1.12 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Tuesday, March 12th. This is a positive change from Essent Group’s previous quarterly dividend of $0.25.

Essent Group has increased its dividend by an average of 16.0% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Essent Group has a payout ratio of 14.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Essent Group to earn $6.66 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 15.0%.

Essent Group Price Performance

Essent Group stock opened at $51.74 on Friday. The company has a market capitalization of $5.52 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 0.79 and a beta of 1.06. Essent Group has a one year low of $36.53 and a one year high of $56.45. The business has a 50 day simple moving average of $52.84 and a 200 day simple moving average of $50.38.

Essent Group (NYSE:ESNTGet Free Report) last posted its earnings results on Friday, February 9th. The financial services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.59 by $0.05. The business had revenue of $297.30 million during the quarter, compared to the consensus estimate of $286.18 million. Essent Group had a return on equity of 14.33% and a net margin of 64.11%. Essent Group’s revenue was up 29.3% on a year-over-year basis. During the same quarter last year, the company earned $1.37 EPS. Equities analysts anticipate that Essent Group will post 6.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Essent Group

In other Essent Group news, SVP Mary Lourdes Gibbons sold 5,000 shares of Essent Group stock in a transaction on Friday, January 19th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the transaction, the senior vice president now owns 247,969 shares in the company, valued at approximately $13,638,295. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Essent Group

A number of institutional investors and hedge funds have recently made changes to their positions in ESNT. Norges Bank bought a new stake in shares of Essent Group during the fourth quarter worth $40,728,000. Capital World Investors grew its stake in shares of Essent Group by 10.2% during the first quarter. Capital World Investors now owns 8,781,249 shares of the financial services provider’s stock worth $361,875,000 after purchasing an additional 815,259 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Essent Group by 1,442.0% during the first quarter. Envestnet Asset Management Inc. now owns 638,753 shares of the financial services provider’s stock worth $2,590,000 after purchasing an additional 597,330 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Essent Group during the fourth quarter worth $17,606,000. Finally, Vanguard Group Inc. grew its stake in shares of Essent Group by 4.0% during the first quarter. Vanguard Group Inc. now owns 10,590,130 shares of the financial services provider’s stock worth $436,419,000 after purchasing an additional 411,585 shares during the period. Institutional investors own 91.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Barclays assumed coverage on Essent Group in a research report on Wednesday, November 15th. They set an “overweight” rating and a $60.00 target price for the company. StockNews.com downgraded Essent Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Finally, UBS Group initiated coverage on Essent Group in a research report on Wednesday, December 6th. They issued a “neutral” rating and a $54.00 price objective for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Essent Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

Check Out Our Latest Stock Report on Essent Group

Essent Group Company Profile

(Get Free Report)

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.

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Dividend History for Essent Group (NYSE:ESNT)

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