Essent Group (ESNT) Lifted to “Buy” at Deutsche Bank

Deutsche Bank upgraded shares of Essent Group (NYSE:ESNT) from a hold rating to a buy rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have $61.00 target price on the financial services provider’s stock, up from their previous target price of $49.00.

A number of other equities analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a buy rating and issued a $44.00 price target on shares of Essent Group in a research note on Thursday, October 12th. Royal Bank of Canada started coverage on shares of Essent Group in a research note on Wednesday, December 20th. They issued an outperform rating and a $54.00 price target on the stock. Compass Point reiterated a buy rating and issued a $50.00 price target (up previously from $38.00) on shares of Essent Group in a research note on Wednesday, October 11th. Zacks Investment Research upgraded shares of Essent Group from a hold rating to a buy rating and set a $45.00 price target on the stock in a research note on Monday, October 9th. Finally, ValuEngine cut shares of Essent Group from a strong-buy rating to a buy rating in a research note on Friday, December 1st. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Essent Group presently has a consensus rating of Buy and a consensus price target of $49.40.

Shares of Essent Group (ESNT) opened at $46.67 on Monday. Essent Group has a fifty-two week low of $31.63 and a fifty-two week high of $47.29. The company has a market cap of $4,590.00, a price-to-earnings ratio of 15.66, a PEG ratio of 1.20 and a beta of 1.15.

Essent Group (NYSE:ESNT) last announced its earnings results on Thursday, November 9th. The financial services provider reported $0.82 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 firm had revenue of $150.20 million for the quarter, compared to analysts’ expectations of $143.79 million. During the same quarter in the previous year, the business posted $0.65 EPS. The company’s quarterly revenue was up 23.9% on a year-over-year basis. equities analysts forecast that Essent Group will post 3.08 earnings per share for the current year.

In other Essent Group news, SVP Mary Lourdes Gibbons sold 4,836 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $42.04, for a total transaction of $203,305.44. Following the transaction, the senior vice president now owns 258,066 shares in the company, valued at approximately $10,849,094.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew Turnbull sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $46.00, for a total transaction of $230,000.00. Following the transaction, the director now owns 24,596 shares in the company, valued at approximately $1,131,416. The disclosure for this sale can be found here. Insiders have sold a total of 53,858 shares of company stock worth $2,414,044 in the last 90 days. Company insiders own 18.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ESNT. Schwab Charles Investment Management Inc. increased its position in shares of Essent Group by 18.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 735,340 shares of the financial services provider’s stock valued at $27,311,000 after purchasing an additional 115,177 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Essent Group during the 2nd quarter valued at about $346,000. Bank of New York Mellon Corp increased its position in shares of Essent Group by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 855,083 shares of the financial services provider’s stock valued at $31,758,000 after purchasing an additional 17,918 shares during the last quarter. Legal & General Group Plc increased its position in shares of Essent Group by 15.2% during the 2nd quarter. Legal & General Group Plc now owns 27,613 shares of the financial services provider’s stock valued at $1,025,000 after purchasing an additional 3,647 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Essent Group by 10.1% during 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. Institutional investors and hedge funds 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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