Keefe, Bruyette & Woods set a $43.00 target price on Essent Group Ltd. (NYSE:ESNT) in a research report report published on Monday, August 7th. The firm currently has a hold rating on the financial services provider’s stock.
Several other research analysts have also commented on ESNT. BidaskClub lowered Essent Group from a hold rating to a sell rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded Essent Group from a hold rating to a buy rating and set a $43.00 target price for the company in a research report on Wednesday, July 26th. ValuEngine raised Essent Group from a buy rating to a strong-buy rating in a report on Friday, June 9th. Barclays PLC raised their price target on Essent Group from $40.00 to $43.00 and gave the stock an overweight rating in a report on Monday, May 8th. Finally, Bank of America Corporation raised Essent Group from an underperform rating to a buy rating and raised their price target for the stock from $38.00 to $43.00 in a report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $43.50.
Essent Group (NYSE ESNT) traded down 1.43% during midday trading on Monday, reaching $37.87. The company had a trading volume of 693,326 shares. Essent Group has a 12 month low of $25.68 and a 12 month high of $41.44. The firm’s 50-day moving average price is $38.60 and its 200 day moving average price is $36.82. The firm has a market capitalization of $3.54 billion, a PE ratio of 13.48 and a beta of 1.14.
Essent Group (NYSE:ESNT) last issued its quarterly earnings data on Friday, August 4th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The firm had revenue of $137.61 million during the quarter, compared to analyst estimates of $131.99 million. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. Essent Group’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. Equities analysts anticipate that Essent Group will post $3.08 earnings per share for the current fiscal year.
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In other Essent Group news, CFO Lawrence E. Mcalee, Jr. sold 2,000 shares of Essent Group stock in a transaction on Friday, July 7th. The stock was sold at an average price of $39.02, for a total transaction of $78,040.00. Following the sale, the chief financial officer now owns 275,285 shares of the company’s stock, valued at approximately $10,741,620.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Lawrence E. Mcalee, Jr. sold 7,000 shares of the business’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $36.99, for a total value of $258,930.00. Following the completion of the sale, the chief financial officer now directly owns 279,285 shares in the company, valued at approximately $10,330,752.15. The disclosure for this sale can be found here. Insiders have sold a total of 31,918 shares of company stock worth $1,244,860 in the last ninety days. 18.10% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Sei Investments Co. increased its stake in Essent Group by 2.6% in the first quarter. Sei Investments Co. now owns 2,909 shares of the financial services provider’s stock worth $105,000 after buying an additional 74 shares in the last quarter. Albion Financial Group UT increased its stake in Essent Group by 0.9% in the second quarter. Albion Financial Group UT now owns 15,704 shares of the financial services provider’s stock worth $583,000 after buying an additional 145 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Essent Group by 0.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,746 shares of the financial services provider’s stock worth $845,000 after buying an additional 200 shares in the last quarter. US Bancorp DE increased its stake in Essent Group by 4.6% in the first quarter. US Bancorp DE now owns 4,946 shares of the financial services provider’s stock worth $179,000 after buying an additional 218 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its stake in Essent Group by 0.4% in the second quarter. Riggs Asset Managment Co. Inc. now owns 57,668 shares of the financial services provider’s stock worth $2,142,000 after buying an additional 246 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors.
Essent Group Company Profile
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance.
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