Essent Group Ltd. (NYSE:ESNT) CFO Lawrence E. Mcalee, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $27.50, for a total value of $55,000.00. Following the sale, the chief financial officer now directly owns 290,263 shares in the company, valued at $7,982,232.50. The transaction was disclosed in a filing with the SEC, which is available at this link.
Essent Group Ltd. (NYSE:ESNT) opened at 28.14 on Wednesday. The company has a market cap of $2.62 billion, a PE ratio of 13.93 and a beta of 1.09. Essent Group Ltd. has a 1-year low of $16.49 and a 1-year high of $28.62. The stock has a 50 day moving average price of $26.93 and a 200 day moving average price of $23.47.
Essent Group (NYSE:ESNT) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. The company had revenue of $108.50 million for the quarter, compared to analyst estimates of $105.30 million. Essent Group had a return on equity of 15.98% and a net margin of 46.40%. The company’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. Equities analysts forecast that Essent Group Ltd. will post $2.28 earnings per share for the current year.
ESNT has been the topic of several research reports. Zacks Investment Research lowered Essent Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. TheStreet raised Essent Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 14th. Compass Point upped their price target on Essent Group from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, August 5th. Keefe, Bruyette & Woods lowered Essent Group from an “outperform” rating to a “market perform” rating and upped their price target for the company from $26.00 to $26.50 in a research report on Friday, August 5th. Finally, Barclays PLC upped their price objective on Essent Group from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $26.61.
Several hedge funds have recently modified their holdings of ESNT. Acrospire Investment Management LLC raised its stake in shares of 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 during the period. Quantbot Technologies LP purchased a new stake in shares of Essent Group during the second quarter worth approximately $167,000. BNP Paribas Arbitrage SA raised its stake in shares of Essent Group by 98.4% in the third quarter. BNP Paribas Arbitrage SA now owns 6,542 shares of the company’s stock worth $174,000 after buying an additional 3,245 shares during the period. Teacher Retirement System of Texas raised its stake in shares of 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 during the period. Finally, Amalgamated Bank purchased a new stake in shares of Essent Group during the second quarter worth approximately $204,000. Institutional investors own 87.29% of the company’s stock.
About Essent Group
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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