Pbra (cayman) Co. is Buying Essent Group Ltd. (NYSE:ESNT) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Essent Group Ltd. (NYSE:ESNT) reported that Pbra (cayman) Co. has picked up 7,267,407 of common stock as of 2017-02-27.

The acquisition brings the aggregate amount owned by Pbra (cayman) Co. to a total of 7,267,407 representing a 7.78% stake in the company.

For those not familiar with the company, Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in serving the United States housing finance industry. It offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The primary mortgage insurance operations are conducted through Essent Guaranty, Inc. (Essent Guaranty), a subsidiary of the company, which maintains operations centers and operates additional underwriting and service centers in Winston-Salem, North Carolina and Irvine, California. Essent Guaranty is a mortgage insurer and is licensed to write mortgage insurance in all 50 states and the District of Columbia. The Company offers primary and pool private mortgage insurance. Primary mortgage insurance provides protection on individual loans at specified coverage percentages. Pool insurance is used to provide additional credit for certain secondary market and other mortgage transactions.

A glance at Essent Group Ltd. (NYSE:ESNT)’s key stats reveals a current market capitalization of 3.25 billion based on 93.39 million shares outstanding and a price at last close of $34.75 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-07-06, Turnbull picked up 36,353 at a purchase price of $21.33. This brings their total holding to 49,864 as of the date of the filing.

On the sell side, the most recent transaction saw Bhasin unload 13,131 shares at a sale price of $34.06. This brings their total holding to 294,331.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Essent Group Ltd. (NYSE:ESNT) as things move forward to see if its progress aligns with these transactions.

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