The stock last traded at $43.23 which is slightly above $40.08, the stock’s 50 day moving average and much higher than the 200 day moving average of $38.19. The 50 day moving average was up by +7.87% whereas the 200 day average was up by +13.21%. Essent Group Ltd. shares had a trading volume of 781K by the end of trading on Tuesday. Shares saw a steep increase in trading volume of 113.27% over the normal average daily volume.
Investors are more bullish on shares of the company of late if you pay attention to the fall in short interest. The firm recorded a fall in short interest between September 15, 2017 and September 29, 2017 of -1.23%. Short interest decreased from 927,406 to 916,030 over that period. Days to cover increased 1.0 to 2.0 and the short interest percentage is 0.01% as of September 29.
Essent Group Ltd. (NYSE:ESNT) has been the object of insider selling activity recently. Mary Lourdes Gibbons, SVP and Chief Legal Officer disclosed the sale of 4,600 shares. The shares were sold on August 7th for an average price of $41.04. Gibbons now owns $10,789,498 of the stock according to the SEC filing.
The following firms have recently changed their position in ESNT. As of the end of the quarter Quantitative Systematic Strategies LLC had sold 3,996 shares trimming its holdings by 21.7%. The value of the investment in (ESNT) went from $684,000 to $583,000 decreasing 14.8% for the reporting period. As of quarter end Groesbeck Investment Management Corp /nj/ had acquired a total of 300 shares growing its stake by 3.8%. The value in dollars increased from $293,000 to $332,000 a change of 13.3% since the last quarter.
As of the end of the quarter Bowling Portfolio Management LLC had disposed of a total of 443 shares trimming its position 1.2%. The value of the total investment in Essent Group Ltd. went from $1,392,000 to $1,500,000 a change of $108,000 quarter over quarter. Robeco Institutional Asset Management B.v. downsized its position by selling 386,379 shares a decrease of 24.2% as of 09/30/2017. Robeco Institutional Asset Management B.v. now controls 1,208,909 shares worth $48,961,000. The total value of its holdings decreased 17.4%.
On August 7 Barclays held the company rating at “Overweight” and raised the price expectation from $30.00 to $45.00. On August 23 the company was upgraded from “Outperform” to “Outperform” by analysts at Keefe Bruyette & Woods.
The most current P/E ratio is 15.38 and market capitalization is 4.04B. In the last earnings report the EPS was $2.81 and is projected to be $3.04 for the current year with 93,423,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.80 and the next full year EPS is anticipated to be $3.58.
Essent Group Ltd., launched on July 1, 2008, is a private mortgage insurance company. The Company is involved in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance. The primary mortgage insurance operations were conducted through Essent Guaranty, Inc. (Essent Guaranty), a mortgage insurer, which was licensed to write mortgage insurance in all 50 states and the District of Columbia, as of December 31, 2016. It offers primary mortgage insurance, pool insurance and master policy. It provides contract underwriting services through CUW Solutions, LLC (CUW Solutions), which is a subsidiary of Essent Holdings, Inc. Its subsidiaries include Essent Agency (Bermuda) Ltd and Essent Reinsurance Ltd (Essent Re)..