BTIG Research Raises Essent Group (ESNT) Price Target to $54.00

Essent Group (NYSE:ESNT) had its price target raised by BTIG Research from $49.00 to $54.00 in a research report sent to investors on Wednesday, MarketBeat reports. BTIG Research currently has a buy rating on the financial services provider’s stock.

Several other analysts have also commented on the stock. Zacks Investment Research upgraded shares of Essent Group from a hold rating to a buy rating and set a $41.00 price target on the stock in a research report on Friday, September 8th. Deutsche Bank increased their price target on shares of Essent Group from $48.00 to $49.00 and gave the company a buy rating in a research report on Wednesday, October 25th. BidaskClub upgraded shares of Essent Group from a hold rating to a buy rating in a research report on Wednesday, October 18th. Wells Fargo & Company began coverage on shares of Essent Group in a research report on Tuesday, November 28th. They issued an outperform rating and a $52.00 price target on the stock. Finally, Keefe, Bruyette & Woods upgraded shares of Essent Group from a market perform rating to an outperform rating and increased their price target for the company from $43.00 to $44.00 in a research report on Wednesday, August 23rd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Essent Group has an average rating of Buy and a consensus price target of $47.60.

Shares of Essent Group (NYSE ESNT) traded down $0.89 during trading on Wednesday, reaching $45.08. 618,831 shares of the company’s stock were exchanged, compared to its average volume of 827,237. Essent Group has a 12 month low of $31.54 and a 12 month high of $47.29. The stock has a market capitalization of $4,440.00, a PE ratio of 15.13, a PEG ratio of 1.49 and a beta of 1.15.

Essent Group (NYSE:ESNT) last issued its earnings results on Thursday, November 9th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.07. Essent Group had a net margin of 51.64% and a return on equity of 18.55%. The company had revenue of $150.20 million during the quarter, compared to analysts’ expectations of $143.79 million. During the same period last year, the company posted $0.65 earnings per share. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. analysts expect that Essent Group will post 3.08 EPS for the current year.

In related news, Director Andrew Turnbull sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $46.00, for a total transaction of $230,000.00. Following the sale, the director now owns 24,596 shares in the company, valued at $1,131,416. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David B. Weinstock sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $41.71, for a total transaction of $125,130.00. Following the sale, the vice president now owns 25,785 shares in the company, valued at approximately $1,075,492.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,858 shares of company stock worth $2,414,044. 18.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ESNT. Fortaleza Asset Management Inc. acquired a new position in shares of Essent Group in the 3rd quarter valued at $112,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Essent Group by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 288 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Essent Group in the 2nd quarter valued at $208,000. Nine Chapters Capital Management LLC acquired a new position in shares of Essent Group in the 3rd quarter valued at $219,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Essent Group in the 2nd quarter valued at $243,000. Hedge funds and other institutional investors own 85.83% of the company’s stock.

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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.

Analyst Recommendations for Essent Group (NYSE:ESNT)

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