BidaskClub downgraded shares of Essent Group Ltd. (NYSE:ESNT) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
ESNT has been the topic of a number of other research reports. Keefe, Bruyette & Woods restated a buy rating and set a $44.00 target price on shares of Essent Group in a report on Thursday, October 12th. Zacks Investment Research cut Essent Group from a buy rating to a hold rating in a report on Tuesday, July 11th. Compass Point restated a buy rating and set a $50.00 target price (up previously from $38.00) on shares of Essent Group in a report on Wednesday, October 11th. Barclays PLC restated a buy rating on shares of Essent Group in a report on Wednesday, August 9th. Finally, Deutsche Bank AG raised their target price on Essent Group from $42.00 to $48.00 and gave the stock a buy rating in a report on Tuesday, August 8th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Essent Group has an average rating of Buy and an average price target of $44.88.
Essent Group (NYSE:ESNT) opened at $40.47 on Wednesday. Essent Group has a 1-year low of $25.84 and a 1-year high of $45.10. The stock has a market capitalization of $3,983.18, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.34 and a beta of 1.15.
Essent Group (NYSE:ESNT) last issued its earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.09. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. The firm had revenue of $137.61 million for the quarter, compared to analysts’ expectations of $131.99 million. During the same quarter last year, the business earned $0.57 earnings per share. The company’s revenue was up 27.2% compared to the same quarter last year. equities analysts forecast that Essent Group will post 3.02 earnings per share for the current fiscal year.
In related news, SVP Mary Lourdes Gibbons sold 4,600 shares of Essent Group stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $41.04, for a total value of $188,784.00. Following the sale, the senior vice president now owns 262,902 shares of the company’s stock, valued at approximately $10,789,498.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Lawrence E. Mcalee, Jr. sold 7,000 shares of Essent Group stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $45.01, for a total value of $315,070.00. Following the completion of the sale, the chief financial officer now directly owns 265,167 shares in the company, valued at approximately $11,935,166.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,645 shares of company stock worth $1,222,519. 18.10% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in ESNT. BlackRock Inc. raised its position in Essent Group by 6,828.8% in the 1st quarter. BlackRock Inc. now owns 5,844,752 shares of the financial services provider’s stock valued at $211,403,000 after buying an additional 5,760,398 shares during the last quarter. Victory Capital Management Inc. raised its position in Essent Group by 57.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,351,264 shares of the financial services provider’s stock valued at $95,226,000 after buying an additional 860,300 shares during the last quarter. Vanguard Group Inc. raised its position in Essent Group by 9.1% in the 2nd quarter. Vanguard Group Inc. now owns 7,826,998 shares of the financial services provider’s stock valued at $290,695,000 after buying an additional 655,163 shares during the last quarter. Alliancebernstein L.P. raised its position in Essent Group by 18.7% in the 2nd quarter. Alliancebernstein L.P. now owns 3,755,887 shares of the financial services provider’s stock valued at $139,494,000 after buying an additional 592,824 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in Essent Group in the 2nd quarter valued at approximately $19,348,000. 81.55% of the stock is currently owned by institutional investors and hedge funds.
About Essent Group
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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