Essent Group (NYSE:ESNT) Hits New 1-Year High on Earnings Beat

Essent Group Ltd. (NYSE:ESNT) shares hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $68.72 and last traded at $68.9180, with a volume of 226416 shares traded. The stock had previously closed at $65.51.

The financial services provider reported $2.08 earnings per share (EPS) for the quarter. Essent Group had a return on equity of 12.01% and a net margin of 53.64%.The business had revenue of $362.69 million for the quarter.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Essent Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Roth Capital reaffirmed a “buy” rating and set a $65.00 price objective on shares of Essent Group in a research report on Wednesday, June 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Essent Group from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Royal Bank Of Canada initiated coverage on shares of Essent Group in a report on Friday, May 22nd. They issued a “sector perform” rating and a $68.00 target price on the stock. Finally, Barclays upped their target price on Essent Group from $61.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.71.

Insiders Place Their Bets

In related news, CEO Mark Casale sold 29,329 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $65.35, for a total value of $1,916,650.15. Following the sale, the chief executive officer owned 2,184,143 shares of the company’s stock, valued at $142,733,745.05. This trade represents a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David B. Weinstock sold 5,500 shares of Essent Group stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $63.51, for a total transaction of $349,305.00. Following the completion of the sale, the chief financial officer owned 35,494 shares in the company, valued at approximately $2,254,223.94. This represents a 13.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 39,837 shares of company stock worth $2,591,612 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Essent Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 11,987,945 shares of the financial services provider’s stock valued at $779,336,000 after acquiring an additional 85,295 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Essent Group in the fourth quarter worth $27,983,000. CWM LLC increased its holdings in shares of Essent Group by 132.2% during the fourth quarter. CWM LLC now owns 42,396 shares of the financial services provider’s stock valued at $2,756,000 after purchasing an additional 24,139 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Essent Group during the fourth quarter valued at $1,485,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Essent Group during the fourth quarter valued at about $1,136,000. Institutional investors own 93.00% of the company’s stock.

Essent Group Trading Up 5.6%

The firm has a market capitalization of $6.37 billion, a P/E ratio of 9.85, a PEG ratio of 1.85 and a beta of 0.76. The business’s 50 day moving average is $62.57 and its two-hundred day moving average is $61.51. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.09.

About Essent Group

Essent Group Ltd. (NYSE: ESNT) is a publicly traded insurance holding company specializing in private mortgage insurance and mortgage reinsurance solutions. Through its primary subsidiary, Essent Guaranty, the company provides credit protection to mortgage lenders, helping mitigate the risk of borrower default on residential mortgage loans. Essent’s insurance policies enable lenders to offer low-down-payment programs, supporting homebuyers in achieving homeownership with reduced upfront equity requirements.

Beyond traditional mortgage insurance, Essent offers a suite of risk management and analytics services designed to help financial institutions monitor and manage mortgage portfolios.