Essent Group Ltd (ESNT) Receives Consensus Rating of “Buy” from Brokerages

Essent Group Ltd (NYSE:ESNT) has been given a consensus recommendation of “Buy” by the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $49.40.

A number of equities analysts recently issued reports on the stock. BTIG Research raised shares of Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Tuesday, September 12th. Deutsche Bank raised their price objective on shares of Essent Group from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. BidaskClub raised shares of Essent Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $44.00 price objective on shares of Essent Group in a report on Thursday, October 12th. Finally, Compass Point reissued a “buy” rating and issued a $50.00 price objective (up previously from $38.00) on shares of Essent Group in a report on Wednesday, October 11th.

In other news, VP David B. Weinstock sold 3,000 shares of Essent Group stock in a transaction that occurred on Monday, October 16th. The shares were 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 $1,075,492.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrew Turnbull sold 15,813 shares of Essent Group stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $45.62, for a total transaction of $721,389.06. Following the sale, the director now owns 45,409 shares in the company, valued at approximately $2,071,558.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,858 shares of company stock worth $2,414,044. Company insiders own 18.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. bought a new stake in Essent Group in the third quarter worth $112,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Essent Group by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 288 shares during the last quarter. Nine Chapters Capital Management LLC bought a new stake in Essent Group in the third quarter worth $219,000. GSA Capital Partners LLP bought a new stake in Essent Group in the second quarter worth $243,000. Finally, Ameritas Investment Partners Inc. increased its position in Essent Group by 5.1% in the second quarter. Ameritas Investment Partners Inc. now owns 6,781 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Shares of Essent Group (ESNT) traded up $0.17 during mid-day trading on Tuesday, hitting $45.69. 717,693 shares of the stock were exchanged, compared to its average volume of 788,165. Essent Group has a 52-week low of $31.54 and a 52-week high of $47.29. The company has a market capitalization of $4,530.00, a price-to-earnings ratio of 15.33, a PEG ratio of 1.20 and a beta of 1.15.

Essent Group (NYSE:ESNT) last announced its quarterly earnings results on Thursday, November 9th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Essent Group had a net margin of 51.64% and a return on equity of 18.55%. The firm had revenue of $150.20 million during the quarter, compared to analyst estimates of $143.79 million. During the same period in the previous year, the business posted $0.65 earnings per share. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. analysts forecast that Essent Group will post 3.08 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for Essent Group (NYSE:ESNT)

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