Deutsche Bank upgraded shares of Essent Group (NYSE:ESNT) from a hold rating to a buy rating in a report published on Monday, January 8th, MarketBeat Ratings reports. Deutsche Bank currently has $61.00 price objective on the financial services provider’s stock, up from their previous price objective of $49.00.
A number of other brokerages have also issued reports on ESNT. BidaskClub raised shares of Essent Group from a hold rating to a buy rating in a research note on Wednesday, October 18th. BTIG Research raised shares of Essent Group from a neutral rating to a buy rating and set a $44.00 target price for the company in a research note on Tuesday, September 12th. Wells Fargo & Co initiated coverage on shares of Essent Group in a report on Tuesday, November 28th. They set an outperform rating and a $52.00 price target on the stock. Zacks Investment Research downgraded shares of Essent Group from a buy rating to a hold rating in a report on Tuesday, October 10th. Finally, ValuEngine downgraded shares of Essent Group from a strong-buy rating to a buy rating in a report on Friday, December 1st. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $49.40.
Shares of Essent Group (ESNT) traded down $0.30 during trading hours on Monday, hitting $47.78. 625,735 shares of the company’s stock traded hands, compared to its average volume of 747,650. Essent Group has a 12 month low of $31.63 and a 12 month high of $48.57. The firm has a market capitalization of $4,732.71, a price-to-earnings ratio of 15.98, a P/E/G ratio of 1.22 and a beta of 1.15.
Essent Group (NYSE:ESNT) last issued its 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 firm had revenue of $150.20 million during 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 18.55%. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. analysts anticipate that Essent Group will post 3.07 EPS for the current fiscal year.
In related news, SVP Mary Lourdes Gibbons sold 5,209 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $45.02, for a total transaction of $234,509.18. Following the completion of the sale, the senior vice president now directly owns 252,857 shares of the company’s stock, valued at $11,383,622.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew Turnbull sold 5,000 shares of the business’s stock in a transaction that occurred 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 directly owns 24,596 shares of the company’s stock, valued at $1,131,416. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,022 shares of company stock worth $2,085,608. Company insiders own 18.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP increased its stake in 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 purchasing an additional 22,742 shares in the last quarter. Insight Capital Research & Management Inc. acquired a new position in shares of Essent Group in the third quarter valued at approximately $957,000. California Public Employees Retirement System boosted its holdings 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 during the period. Bamco Inc. NY boosted its holdings 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 during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings 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 during the period. 85.83% of the stock is owned by institutional investors and hedge funds.
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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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