Research analysts at Royal Bank of Canada initiated coverage on shares of Essent Group (NYSE:ESNT) in a research report issued on Wednesday, December 20th. The firm set an “outperform” rating and a $54.00 price target on the financial services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 12.88% from the stock’s previous close.
Several other equities analysts also recently commented on the stock. Deutsche Bank increased their price objective on shares of Essent Group from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Friday, September 8th. BTIG Research upgraded shares of Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, September 12th. BidaskClub upgraded shares of Essent Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 16th. Finally, ValuEngine cut shares of Essent Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Essent Group has a consensus rating of “Buy” and an average price target of $49.40.
Shares of Essent Group (ESNT) traded up $1.18 during trading on Wednesday, hitting $47.84. 797,920 shares of the stock were exchanged, compared to its average volume of 729,755. Essent Group has a 12 month low of $31.63 and a 12 month high of $47.96. The company has a market cap of $4,710.00, a P/E ratio of 16.05, a PEG ratio of 1.20 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 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.07. The company had revenue of $150.20 million during the quarter, compared to the consensus estimate of $143.79 million. Essent Group had a net margin of 51.64% and a return on equity of 18.55%. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 EPS. equities research analysts forecast that Essent Group will post 3.08 EPS for the current year.
In other Essent Group news, VP David B. Weinstock sold 3,000 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $41.71, for a total value of $125,130.00. Following the completion of the sale, the vice president now directly owns 25,785 shares in the company, valued at $1,075,492.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Turnbull sold 15,813 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 45,409 shares in the company, valued at $2,071,558.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,858 shares of company stock valued at $2,414,044. 18.10% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP lifted its stake in shares of Essent Group by 347.0% in the third quarter. GSA Capital Partners LLP now owns 29,295 shares of the financial services provider’s stock valued at $1,186,000 after buying an additional 22,742 shares in the last quarter. Insight Capital Research & Management Inc. bought a new position in shares of Essent Group in the third quarter valued at $957,000. California Public Employees Retirement System lifted its stake in shares of Essent Group by 14.3% in the third quarter. California Public Employees Retirement System now owns 142,669 shares of the financial services provider’s stock valued at $5,778,000 after buying an additional 17,869 shares in the last quarter. Bamco Inc. NY lifted its stake in shares of Essent Group by 26.3% in the third quarter. Bamco Inc. NY now owns 754,174 shares of the financial services provider’s stock valued at $30,544,000 after buying an additional 157,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Essent Group by 527.5% in the third quarter. Cubist Systematic Strategies LLC now owns 43,007 shares of the financial services provider’s stock valued at $1,742,000 after buying an additional 36,153 shares in the last quarter. 85.83% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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