Essent Group Ltd. (NYSE:ESNT) Receives Average Recommendation of “Moderate Buy” from Analysts

by · The Markets Daily

Shares of Essent Group Ltd. (NYSE:ESNT – Get Free Report) have earned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $66.50.

A number of equities research analysts have weighed in on the company. BTIG Research upped their target price on Essent Group from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays raised their target price on Essent Group from $64.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods upgraded shares of Essent Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $65.00 to $70.00 in a research report on Monday, August 5th. Royal Bank of Canada raised their price objective on shares of Essent Group from $61.00 to $67.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Essent Group from $63.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, October 7th.

Check Out Our Latest Stock Report on Essent Group

Essent Group Stock Performance

Shares of ESNT stock opened at $61.77 on Thursday. Essent Group has a 1 year low of $45.63 and a 1 year high of $65.33. The firm has a market capitalization of $6.59 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 1.56 and a beta of 1.12. The stock has a fifty day moving average of $63.17 and a two-hundred day moving average of $59.03.

Essent Group (NYSE:ESNT – Get Free Report) last announced its earnings results on Friday, August 2nd. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.23. Essent Group had a net margin of 61.31% and a return on equity of 14.40%. The firm had revenue of $272.90 million during the quarter, compared to analyst estimates of $308.33 million. During the same quarter in the prior year, the firm posted $1.61 EPS. Essent Group’s revenue was up 9.5% compared to the same quarter last year. Equities research analysts predict that Essent Group will post 7.02 earnings per share for the current fiscal year.

Essent Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 30th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Friday, August 30th. Essent Group’s dividend payout ratio is presently 16.94%.

Insider Transactions at Essent Group

In related news, CFO David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total value of $127,180.00. Following the completion of the transaction, the chief financial officer now owns 25,416 shares of the company’s stock, valued at approximately $1,616,203.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Roy James Kasmar sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $58.81, for a total transaction of $294,050.00. Following the transaction, the director now directly owns 27,140 shares of the company’s stock, valued at approximately $1,596,103.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David B. Weinstock sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total transaction of $127,180.00. Following the completion of the sale, the chief financial officer now owns 25,416 shares of the company’s stock, valued at approximately $1,616,203.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Essent Group

A number of hedge funds have recently modified their holdings of the stock. BayBridge Capital Group LLC grew its stake in Essent Group by 5.7% in the third quarter. BayBridge Capital Group LLC now owns 8,077 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 434 shares in the last quarter. Vest Financial LLC lifted its holdings in shares of Essent Group by 20.6% during the 3rd quarter. Vest Financial LLC now owns 23,458 shares of the financial services provider’s stock valued at $1,508,000 after buying an additional 4,010 shares during the last quarter. Raymond James & Associates grew its stake in shares of Essent Group by 163.4% in the 3rd quarter. Raymond James & Associates now owns 44,676 shares of the financial services provider’s stock valued at $2,872,000 after buying an additional 27,717 shares in the last quarter. Net Worth Advisory Group acquired a new position in Essent Group in the third quarter worth approximately $463,000. Finally, Ellsworth Advisors LLC raised its position in Essent Group by 5.2% during the third quarter. Ellsworth Advisors LLC now owns 10,070 shares of the financial services provider’s stock valued at $647,000 after acquiring an additional 498 shares in the last quarter. 93.00% of the stock is owned by institutional investors and hedge funds.

Essent Group Company Profile

(Get Free Report

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its mortgage insurance products include primary, pool, and master policy. The company also provides information technology maintenance and development services; customer support-related services; underwriting consulting; and contract underwriting services, as well as risk management products and title insurance and settlement services.

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