Essent Group Ltd (NYSE:ESNT) CEO Mark Casale sold 370,673 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $44.50, for a total value of $16,494,948.50. Following the completion of the sale, the chief executive officer now owns 1,845,356 shares of the company’s stock, valued at approximately $82,118,342. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Essent Group Ltd (NYSE:ESNT) traded up $1.75 during trading on Wednesday, hitting $47.46. The company had a trading volume of 912,491 shares, compared to its average volume of 722,341. The company has a market capitalization of $4,403.94, a P/E ratio of 11.98, a PEG ratio of 1.12 and a beta of 1.15. Essent Group Ltd has a one year low of $33.45 and a one year high of $50.08.
Essent Group (NYSE:ESNT) last announced its earnings results on Friday, February 9th. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $161.77 million during the quarter, compared to the consensus estimate of $155.22 million. Essent Group had a return on equity of 18.84% and a net margin of 65.87%. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. sell-side analysts anticipate that Essent Group Ltd will post 3.99 EPS for the current fiscal year.
Several analysts have weighed in on ESNT shares. Deutsche Bank boosted their price objective on Essent Group from $48.00 to $49.00 and gave the company a “buy” rating in a research 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 objective for the company in a research report on Monday, December 25th. ValuEngine downgraded Essent Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Royal Bank of Canada started coverage on Essent Group in a research report on Wednesday, December 20th. They issued an “outperform” rating and a $54.00 price objective for the company. Finally, BTIG Research boosted their price objective on Essent Group from $49.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Essent Group presently has an average rating of “Buy” and an average target price of $52.52.
Several institutional investors have recently made changes to their positions in ESNT. Fortaleza Asset Management Inc. bought a new position in shares of Essent Group during the third quarter valued at approximately $112,000. Telemus Capital LLC bought a new position in shares of Essent Group during the fourth quarter valued at approximately $204,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Essent Group by 50.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,735 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 1,590 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in Essent Group in the fourth quarter worth $208,000. Finally, Jefferies Group LLC bought a new position in Essent Group in the fourth quarter worth $209,000. Institutional investors own 86.19% 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.
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