ETF Managers Group LLC Significantly Reduces Stake in Essent Group Ltd
July 8, 2023
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Essent Group ($NYSE:ESNT) Ltd. is a Bermuda-based holding company that offers private mortgage insurance in the United States. The company is the largest independent provider of mortgage insurance in the country. ETF Managers Group LLC had held a significant stake in Essent Group Ltd., but recently significantly decreased its position, according to its most recent filing with the U.S. Securities and Exchange Commission. It is not clear why the LLC decided to reduce its stake in Essent Group, but it is likely due to market conditions or changes in the company’s financial outlook.
As the largest independent provider of mortgage insurance in the United States, Essent Group Ltd. remains a major player in the industry. With its recent stake reduction by ETF Managers Group LLC, investors are watching closely to see how this will affect the company’s performance moving forward.
Stock Price
On Monday, ETF Managers Group LLC significantly reduced their stake in Essent Group Ltd, a mortgage insurance and reinsurance company, which affected the company’s stock. The stock opened the day’s trading at $46.6 and closed at $47.3, a 1.0% increase from the prior closing price of $46.8. This change in ownership is likely to have contributed to the slight increase in the share price as investors reacted to the news. It is not yet clear what the implications of this action will be for Essent Group Ltd, although it is likely to have an impact on the company’s future operations and financial performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Essent Group. More…
| Total Revenues | Net Income | Net Margin |
| 991.19 | 728.01 | 73.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Essent Group. More…
| Operations | Investing | Financing |
| 588.82 | -398.87 | -190.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Essent Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 5.93k | 1.28k | 43.18 |
Key Ratios Snapshot
Some of the financial key ratios for Essent Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.4% | – | 88.9% |
| FCF Margin | ROE | ROA |
| 59.0% | 12.1% | 9.3% |
Analysis
GoodWhale conducted an analysis of ESSENT GROUP‘s financials and our Star Chart indicated that the company has a high health score of 8/10. This means that ESSENT GROUP is capable of paying off its debt and funding future operations. Furthermore, we classified the company as a ‘cow’, a type of company that has the track record of paying out consistent and sustainable dividends. This type of company may be attractive to conservative investors who value dividend income and stability. ESSENT GROUP is strong in asset, dividend, and medium in growth, but weak in profitability. This means that investors should take caution when evaluating the company’s prospects for growth. However, ESSENT GROUP’s healthy cashflows and debt profile make it a viable buy for those looking for a stable dividend-paying stock. More…
Peers
The Company along with its subsidiaries provides private mortgage insurance and reinsurance for mortgage lenders throughout the United States. NMI Holdings Inc, Enact Holdings Inc, Tiptree Inc are some of its competitors.
– NMI Holdings Inc ($NASDAQ:NMIH)
NMI Holdings Inc is a provider of private mortgage insurance in the United States. The company has a market cap of 1.76B and a ROE of 18.87%. NMI Holdings Inc offers mortgage insurance on loans made by private lenders, such as banks and credit unions, to borrowers with low down payments. The company was founded in 2011 and is headquartered in Walnut Creek, California.
– Enact Holdings Inc ($NASDAQ:ACT)
Enact Holdings Inc is a publicly traded holding company with a focus on investments in technology and healthcare companies. The company has a market cap of 3.96B as of 2022 and a return on equity of 17.23%. Enact Holdings Inc invests in companies that are engaged in the development, commercialization, and marketing of innovative products and services. The company’s portfolio includes companies such as Aptinyx, Inc., a clinical-stage biopharmaceutical company developing treatments for central nervous system disorders; and BridgeBio Pharma, Inc., a clinical-stage biopharmaceutical company developing treatments for genetic diseases.
– Tiptree Inc ($NASDAQ:TIPT)
Tiptree Inc. is a holding company that engages in the insurance businesses. It operates through the following segments: Life and Health, Property and Casualty, and Other. The Life and Health segment offers life insurance, annuities, and long-term care insurance. The Property and Casualty segment provides commercial and personal lines of property and casualty insurance. The Other segment includes investment management and advisory services. The company was founded by George H. Tipton and Harry B. Tipton in 1885 and is headquartered in New York, NY.
Summary
ESSENT Group Ltd. is a financial services holding company that provides mortgage insurance and reinsurance, as well as other services. This indicates that investors may be re-evaluating their portfolios to focus on more profitable investments. Despite this, the company continues to be financially sound, with a strong balance sheet and positive cash flow. With its well-established customer base and strong risk management practices, Essent Group is well positioned for continued success in the future.
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