Essent Group Ltd (NYSE:ESNT) Receives Average Rating of “Buy” from Analysts

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Shares of Essent Group Ltd (NYSE:ESNT) have been given a consensus recommendation of “Buy” by the six brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $49.60.

Separately, Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, April 24th.

In other news, CFO Lawrence E. Mcalee, Jr. sold 9,963 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $50.01, for a total value of $498,249.63. Following the completion of the transaction, the chief financial officer now owns 217,241 shares in the company, valued at approximately $10,864,222.41. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jeff Cashmer sold 25,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $45.56, for a total transaction of $1,139,000.00. Following the completion of the transaction, the senior vice president now owns 107,056 shares of the company’s stock, valued at approximately $4,877,471.36. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Hudson Bay Capital Management LP raised its position in Essent Group by 27.7% in the 4th quarter. Hudson Bay Capital Management LP now owns 182,725 shares of the financial services provider’s stock valued at $6,246,000 after purchasing an additional 39,669 shares during the last quarter. BlackRock Inc. raised its position in Essent Group by 4.3% in the 4th quarter. BlackRock Inc. now owns 7,801,470 shares of the financial services provider’s stock valued at $266,654,000 after purchasing an additional 319,226 shares during the last quarter. Weiss Multi Strategy Advisers LLC purchased a new stake in Essent Group in the 4th quarter valued at $9,400,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Essent Group by 16.6% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 6,820 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 970 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Essent Group by 6.5% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 241,969 shares of the financial services provider’s stock valued at $8,271,000 after purchasing an additional 14,785 shares during the last quarter. Institutional investors and hedge funds own 90.06% of the company’s stock.

NYSE ESNT traded down $1.76 on Tuesday, hitting $47.51. 1,117,730 shares of the stock were exchanged, compared to its average volume of 610,088. Essent Group has a fifty-two week low of $31.08 and a fifty-two week high of $50.51. The stock has a market capitalization of $4.67 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 0.90 and a beta of 1.41.

Essent Group (NYSE:ESNT) last posted its quarterly earnings results on Friday, May 3rd. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.28 by $0.02. Essent Group had a net margin of 64.33% and a return on equity of 21.36%. The company had revenue of $200.53 million during the quarter, compared to analysts’ expectations of $196.94 million. During the same quarter in the previous year, the business posted $1.13 EPS. The firm’s revenue was up 19.7% on a year-over-year basis. Sell-side analysts predict that Essent Group will post 5.3 earnings per share for the current year.

Essent Group Company Profile

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.

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