BidaskClub lowered shares of Essent Group Ltd. (NYSE:ESNT) from a buy rating to a hold rating in a report published on Tuesday, July 25th.
Several other brokerages have also commented on ESNT. Zacks Investment Research upgraded Essent Group from a hold rating to a buy rating and set a $44.00 target price for the company in a research report on Monday, July 10th. J P Morgan Chase & Co downgraded Essent Group from an overweight rating to a neutral rating and set a $39.00 target price on the stock. in a research note on Friday, April 21st. ValuEngine raised Essent Group from a buy rating to a strong-buy rating in a research note on Friday, June 9th. Barclays PLC boosted their price objective on Essent Group from $40.00 to $43.00 and gave the stock an overweight rating in a research note on Monday, May 15th. Finally, Bank of America Corporation upgraded Essent Group from an underperform rating to a buy rating and lifted their target price for the stock from $38.00 to $43.00 in a report on Tuesday, May 9th. 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 stock. The company has a consensus rating of Buy and a consensus price target of $43.50.
Shares of Essent Group (ESNT) traded up 1.60% on Tuesday, reaching $38.20. 1,078,666 shares of the company’s stock traded hands. Essent Group has a 52 week low of $25.67 and a 52 week high of $41.44. The firm has a market capitalization of $3.57 billion, a P/E ratio of 13.59 and a beta of 1.14. The firm’s 50 day moving average is $38.27 and its 200 day moving average is $36.66.
Essent Group (NYSE:ESNT) last issued its quarterly earnings data on Friday, August 4th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. The firm had revenue of $137.61 million during the quarter, compared to analyst estimates of $131.99 million. During the same quarter last year, the firm earned $0.57 EPS. Essent Group’s quarterly revenue was up 27.2% on a year-over-year basis. Analysts expect that Essent Group will post $3.08 earnings per share for the current fiscal year.
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In other news, VP David B. Weinstock sold 2,000 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $38.51, for a total value of $77,020.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Lawrence E. Mcalee, Jr. sold 7,000 shares of the company’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $36.99, for a total transaction of $258,930.00. Following the completion of the sale, the chief financial officer now owns 279,285 shares of the company’s stock, valued at approximately $10,330,752.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,918 shares of company stock worth $1,166,960. Company insiders own 18.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. James Investment Research Inc. bought a new position in shares of Essent Group during the first quarter valued at $144,000. Peregrine Capital Management LLC boosted its position in shares of Essent Group by 7.4% in the first quarter. Peregrine Capital Management LLC now owns 887,404 shares of the financial services provider’s stock valued at $31,512,000 after buying an additional 61,010 shares during the last quarter. Evanson Asset Management LLC bought a new position in shares of Essent Group during the first quarter valued at $215,000. Bank of America Corp DE boosted its position in shares of Essent Group by 8.0% in the first quarter. Bank of America Corp DE now owns 378,798 shares of the financial services provider’s stock valued at $13,701,000 after buying an additional 27,952 shares during the last quarter. Finally, Cim LLC increased its stake in shares of Essent Group by 2.9% in the first quarter. Cim LLC now owns 17,110 shares of the financial services provider’s stock valued at $619,000 after buying an additional 480 shares during the period. Institutional investors own 86.12% of the company’s stock.
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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