Essent Group (ESNT) Given a $62.00 Price Target at Susquehanna Bancshares

Essent Group (NYSE:ESNT) received a $62.00 target price from equities researchers at Susquehanna Bancshares in a research note issued on Friday. The firm presently has a “buy” rating on the financial services provider’s stock. Susquehanna Bancshares’ target price points to a potential upside of 41.17% from the stock’s current price.

ESNT has been the topic of a number of other research reports. Deutsche Bank upped their price target on Essent Group from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Monday, December 25th. Wells Fargo & Co assumed coverage on Essent Group in a report on Tuesday, November 28th. They issued an “outperform” rating and a $52.00 price target on the stock. BidaskClub upgraded Essent Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. Finally, Barclays upped their price target on Essent Group from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Essent Group has an average rating of “Buy” and an average target price of $51.09.

Shares of Essent Group (NYSE ESNT) opened at $43.92 on Friday. The firm has a market capitalization of $4,380.00, a P/E ratio of 14.74, a P/E/G ratio of 1.09 and a beta of 1.15. Essent Group has a fifty-two week low of $33.45 and a fifty-two week high of $50.08.

Essent Group (NYSE:ESNT) last released its quarterly earnings results on Friday, February 9th. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $161.77 million for the quarter, compared to analysts’ expectations of $155.22 million. Essent Group had a return on equity of 18.55% and a net margin of 51.64%. The company’s revenue was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. research analysts forecast that Essent Group will post 3.07 earnings per share for the current year.

In other Essent Group news, Director Andrew Turnbull sold 5,000 shares of the stock in a transaction on Wednesday, December 6th. The stock was 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 approximately $1,131,416. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Glanville sold 3,000 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $44.88, for a total value of $134,640.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,013 shares of company stock worth $1,546,045. 18.10% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its stake in shares of Essent Group by 5.1% during the 2nd 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 period. The Manufacturers Life Insurance Company lifted its stake in shares of Essent Group by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,924 shares of the financial services provider’s stock worth $2,077,000 after purchasing an additional 1,079 shares during the period. Chartwell Investment Partners LLC lifted its stake in shares of Essent Group by 1.4% during the 4th quarter. Chartwell Investment Partners LLC now owns 95,081 shares of the financial services provider’s stock worth $4,128,000 after purchasing an additional 1,289 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Essent Group by 23.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 6,904 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 1,299 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Essent Group by 1.5% during the 3rd quarter. Rhumbline Advisers now owns 88,868 shares of the financial services provider’s stock worth $3,599,000 after purchasing an additional 1,311 shares during the period. Hedge funds and other institutional investors own 86.64% 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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