Essent Group (NYSE:ESNT) released its quarterly earnings data on Friday. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.30 by $0.09, Bloomberg Earnings reports. The company had revenue of $211.89 million during the quarter. Essent Group had a return on equity of 21.36% and a net margin of 64.33%.
Essent Group stock traded up $0.37 during mid-day trading on Friday, hitting $45.75. 1,528,854 shares of the company’s stock traded hands, compared to its average volume of 578,996. The company has a 50 day moving average of $47.62. 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 $4.46 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 0.86 and a beta of 1.30.
In other Essent Group news, VP David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $47.87, for a total transaction of $95,740.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Lawrence E. Mcalee, Jr. sold 9,963 shares of the firm’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 sale, the chief financial officer now directly owns 217,241 shares of the company’s stock, valued at approximately $10,864,222.41. The disclosure for this sale can be found here. Insiders have sold a total of 31,849 shares of company stock valued at $1,555,279 in the last ninety days. Insiders own 2.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ESNT. Advisor Group Inc. lifted its holdings in Essent Group by 34.7% during the 4th quarter. Advisor Group Inc. now owns 1,145 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 295 shares during the last quarter. Legal & General Group Plc increased its position in Essent Group by 21.3% during the 4th quarter. Legal & General Group Plc now owns 41,046 shares of the financial services provider’s stock worth $1,403,000 after buying an additional 7,218 shares during the period. Millennium Management LLC increased its position in Essent Group by 20.2% during the 4th quarter. Millennium Management LLC now owns 439,384 shares of the financial services provider’s stock worth $15,018,000 after buying an additional 73,915 shares during the period. Amalgamated Bank increased its position in Essent Group by 44.9% during the 4th quarter. Amalgamated Bank now owns 13,354 shares of the financial services provider’s stock worth $456,000 after buying an additional 4,138 shares during the period. Finally, FMR LLC increased its position in Essent Group by 1.8% during the 4th quarter. FMR LLC now owns 8,798,551 shares of the financial services provider’s stock worth $300,735,000 after buying an additional 159,702 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.
ESNT has been the subject of several recent analyst reports. Zacks Investment Research raised Essent Group from a “sell” rating to a “hold” rating in a report on Thursday, July 25th. BTIG Research reissued a “buy” rating and issued a $54.00 price objective on shares of Essent Group in a report on Sunday. Finally, ValuEngine downgraded Essent Group from a “hold” rating to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Essent Group has a consensus rating of “Hold” and an average price target of $50.33.
About Essent Group
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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