BidaskClub Downgrades Essent Group Ltd. (NYSE:ESNT) to Hold

BidaskClub cut shares of Essent Group Ltd. (NYSE:ESNT) from a buy rating to a hold rating in a research report report published on Wednesday, November 1st.

A number of other research analysts have also commented on ESNT. 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 note on Friday, September 8th. Deutsche Bank AG boosted their price objective on shares of Essent Group from $48.00 to $49.00 and gave the company a buy rating in a report on Wednesday, October 25th. Keefe, Bruyette & Woods set a $43.00 price objective on shares of Essent Group and gave the company a hold rating in a report on Monday, August 7th. Barclays PLC boosted their price objective on shares of Essent Group from $43.00 to $45.00 and gave the company an overweight rating in a report on Monday, August 7th. Finally, Compass Point reaffirmed a buy rating and set a $50.00 price target (up previously from $38.00) on shares of Essent Group in a report on Wednesday, October 11th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Essent Group currently has an average rating of Buy and an average target price of $45.00.

Essent Group (NYSE:ESNT) opened at $41.58 on Wednesday. Essent Group has a 52-week low of $25.84 and a 52-week high of $45.10. The firm has a market cap of $4,092.89, a price-to-earnings ratio of 13.91, a PEG ratio of 1.38 and a beta of 1.15.

Essent Group (NYSE:ESNT) last issued its quarterly earnings results on Thursday, November 9th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. The firm had revenue of $150.20 million for the quarter, compared to analysts’ expectations of $143.79 million. Essent Group had a net margin of 51.64% and a return on equity of 19.73%. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. equities analysts anticipate that Essent Group will post 3.03 EPS for the current fiscal year.

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In related news, VP David B. Weinstock sold 2,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $38.95, for a total transaction of $77,900.00. Following the completion of the sale, the vice president now directly owns 30,785 shares in the company, valued at approximately $1,199,075.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mary Lourdes Gibbons sold 4,836 shares of the business’s stock in a transaction on 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 directly owns 258,066 shares in the company, valued at $10,849,094.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,045 shares of company stock valued at $1,033,735. 18.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ESNT. Principal Financial Group Inc. lifted its position in Essent Group by 2.1% in the first quarter. Principal Financial Group Inc. now owns 64,507 shares of the financial services provider’s stock worth $2,334,000 after buying an additional 1,348 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Essent Group by 0.6% during the first quarter. Teachers Advisors LLC now owns 782,963 shares of the financial services provider’s stock worth $28,320,000 after purchasing an additional 4,394 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Essent Group by 6.9% during the first quarter. California Public Employees Retirement System now owns 119,700 shares of the financial services provider’s stock worth $4,330,000 after purchasing an additional 7,700 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Essent Group by 8.4% during the first quarter. Vanguard Group Inc. now owns 7,171,835 shares of the financial services provider’s stock worth $259,405,000 after purchasing an additional 555,591 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Essent Group by 84.0% during the first quarter. Dimensional Fund Advisors LP now owns 574,453 shares of the financial services provider’s stock worth $20,778,000 after purchasing an additional 262,251 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

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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