Essent Group Ltd. (NYSE:ESNT) has earned an average rating of “Buy” from the twelve brokerages that are presently covering the company. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $26.94.
A number of analysts have commented on the stock. Barclays PLC set a $30.00 price target on shares of Essent Group and gave the company a “buy” rating in a research note on Saturday, September 17th. Compass Point boosted their price target on shares of Essent Group from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Friday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of Essent Group from $26.50 to $29.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Finally, Keefe, Bruyette & Woods lowered shares of Essent Group from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $26.00 to $26.50 in a research note on Friday, August 5th.
Essent Group (NYSE:ESNT) opened at 26.45 on Tuesday. Essent Group has a 52-week low of $16.49 and a 52-week high of $28.62. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 13.09 and a beta of 1.09. The company’s 50-day moving average is $26.58 and its 200-day moving average is $22.78.
Essent Group (NYSE:ESNT) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. The business earned $108.50 million during the quarter, compared to analyst estimates of $105.30 million. Essent Group had a net margin of 46.40% and a return on equity of 15.98%. Essent Group’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. On average, analysts expect that Essent Group will post $2.28 earnings per share for the current fiscal year.
In other Essent Group news, CFO Lawrence E. Mcalee, Jr. sold 6,020 shares of Essent Group stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $27.17, for a total transaction of $163,563.40. Following the transaction, the chief financial officer now directly owns 292,263 shares of the company’s stock, valued at approximately $7,940,785.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jeff Cashmer sold 24,000 shares of Essent Group stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $26.15, for a total transaction of $627,600.00. Following the transaction, the senior vice president now directly owns 158,753 shares in the company, valued at $4,151,390.95. The disclosure for this sale can be found here. Company insiders own 20.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC increased its position in Essent Group by 200.0% in the second quarter. Acrospire Investment Management LLC now owns 4,800 shares of the company’s stock worth $105,000 after buying an additional 3,200 shares in the last quarter. Quantbot Technologies LP purchased a new position in Essent Group during the second quarter worth about $167,000. Teacher Retirement System of Texas increased its position in Essent Group by 23.8% in the second quarter. Teacher Retirement System of Texas now owns 9,152 shares of the company’s stock worth $200,000 after buying an additional 1,757 shares in the last quarter. Amalgamated Bank purchased a new position in Essent Group during the second quarter worth about $204,000. Finally, Bridgeway Capital Management Inc. purchased a new position in Essent Group during the second quarter worth about $214,000. 85.92% of the stock is currently owned by hedge funds and other institutional investors.
Essent Group Company Profile
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.
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