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Stock Alert: Essent Jumps 12% On Joining S&P MidCap 400 Index

Shares of Essent Group Ltd. (ESNT) are climbing more than 12 percent or $4.09 in Wednesday's morning trade at $36.87. The stock has traded in a range of $17.52 to $55.84 in the past 52 weeks.

Hamilton, Bermuda-based Essent Group offers mortgage insurance, reinsurance, and risk management products.

Tuesday, S&P Dow Jones Indices, a division of S&P Global (SPGI), said that Essent Group will replace oilfield services provider Patterson-UTI Energy Inc. (PTEN) in the S&P MidCap 400. Essent will be added to the S&P MidCap 400 GICS Thrifts & Mortgage Finance Sub-Industry index.

The change will be effective prior to the open of trading on Monday, June 1.

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