Essent Group Ltd. (NYSE:ESNT) VP David B. Weinstock sold 2,000 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $38.51, for a total transaction of $77,020.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Essent Group Ltd. (ESNT) traded up 1.60% during trading on Friday, hitting $38.20. 1,078,666 shares of the company’s stock were exchanged. Essent Group Ltd. has a 1-year low of $25.67 and a 1-year high of $41.44. The stock’s 50 day moving average is $38.27 and its 200 day moving average is $36.66. The firm has a market capitalization of $3.57 billion, a PE ratio of 13.59 and a beta of 1.14.
Essent Group (NYSE:ESNT) last released its quarterly earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.09. Essent Group had a net margin of 50.92% and a return on equity of 18.77%. The business had revenue of $137.61 million for the quarter, compared to analyst estimates of $131.99 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm’s revenue was up 27.2% compared to the same quarter last year. On average, equities research analysts forecast that Essent Group Ltd. will post $3.08 earnings per share for the current year.
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A number of brokerages have recently weighed in on ESNT. Barclays PLC reissued a “buy” rating on shares of Essent Group in a research note on Wednesday. Deutsche Bank AG raised their price objective on shares of Essent Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Keefe, Bruyette & Woods set a $43.00 target price on shares of Essent Group and gave the stock a “hold” rating in a research report on Monday, August 7th. BidaskClub lowered shares of Essent Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $43.50.
Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its stake in Essent Group by 2.6% in the first quarter. Sei Investments Co. now owns 2,909 shares of the financial services provider’s stock worth $105,000 after buying an additional 74 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Essent Group by 14.0% in the first quarter. BNP Paribas Arbitrage SA now owns 2,924 shares of the financial services provider’s stock valued at $106,000 after buying an additional 360 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Essent Group by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock valued at $117,000 after buying an additional 288 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in Essent Group during the first quarter valued at $120,000. Finally, James Investment Research Inc. bought a new position in Essent Group during the first quarter valued at $144,000. Institutional investors and hedge funds own 86.12% of the company’s stock.
About Essent Group
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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