Essent Group Ltd. (NYSE:ESNT) CFO Lawrence E. Mcalee, Jr. sold 3,118 shares of Essent Group stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $40.00, for a total value of $124,720.00. Following the completion of the transaction, the chief financial officer now owns 272,167 shares of the company’s stock, valued at approximately $10,886,680. The sale was disclosed in a document filed with the SEC, which is available at this link.
Essent Group Ltd. (NYSE ESNT) traded down 1.43% during midday trading on Friday, hitting $37.87. The stock had a trading volume of 693,326 shares. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 13.48 and a beta of 1.14. Essent Group Ltd. has a 1-year low of $25.68 and a 1-year high of $41.44. The company’s 50 day moving average is $38.60 and its 200 day moving average is $36.82.
Essent Group (NYSE:ESNT) last announced its quarterly earnings data on Friday, August 4th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The business had revenue of $137.61 million for the quarter, compared to analysts’ expectations of $131.99 million. Essent Group had a net margin of 50.92% and a return on equity of 18.77%. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. On average, equities analysts anticipate that Essent Group Ltd. will post $3.08 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. James Investment Research Inc. bought a new stake in Essent Group during the first quarter worth $144,000. Evanson Asset Management LLC bought a new stake in Essent Group during the first quarter worth $215,000. Bank of America Corp DE boosted its stake 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 in the last quarter. Cim LLC boosted 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 in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Essent Group by 4.6% in the first quarter. US Bancorp DE now owns 4,946 shares of the financial services provider’s stock valued at $179,000 after buying an additional 218 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently issued reports on ESNT. Barclays PLC restated a “buy” rating on shares of Essent Group in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods set a $43.00 price objective on Essent Group and gave the company a “hold” rating in a research report on Monday, August 7th. Deutsche Bank AG boosted their price objective on Essent Group from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. BidaskClub downgraded Essent Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research raised Essent Group from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $43.50.
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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