Essent Group Ltd. (NYSE:ESNT) PT Raised to $45.00

Essent Group Ltd. (NYSE:ESNT) had its price objective increased by analysts at Barclays PLC from $43.00 to $45.00 in a report issued on Monday, August 7th. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays PLC’s price objective suggests a potential upside of 18.83% from the stock’s previous close.

ESNT has been the topic of several other reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $40.00 price target on shares of Essent Group in a research note on Friday, April 28th. Bank of America Corporation upgraded shares of Essent Group from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $38.00 to $43.00 in a research note on Tuesday, May 9th. Zacks Investment Research lowered shares of Essent Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. ValuEngine raised shares of Essent Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. Finally, BidaskClub downgraded shares of Essent Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $43.50.

Essent Group (NYSE ESNT) traded down 1.43% during trading on Monday, hitting $37.87. The stock had a trading volume of 693,326 shares. The company has a 50-day moving average of $38.60 and a 200 day moving average of $36.82. Essent Group has a 52-week low of $25.68 and a 52-week high of $41.44. The firm has a market cap of $3.54 billion, a P/E ratio of 13.48 and a beta of 1.14.

Essent Group (NYSE:ESNT) last announced its quarterly earnings results on Friday, August 4th. The financial services provider reported $0.77 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $137.61 million for the quarter, compared to analyst estimates of $131.99 million. During the same period last year, the business earned $0.57 EPS. Essent Group’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities research analysts predict that Essent Group will post $3.08 earnings per share for the current fiscal year.

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In related news, CFO Lawrence E. Mcalee, Jr. sold 2,000 shares of the business’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $39.02, for a total transaction of $78,040.00. Following the sale, the chief financial officer now owns 275,285 shares of the company’s stock, valued at $10,741,620.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Lawrence E. Mcalee, Jr. sold 7,000 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $36.99, for a total transaction of $258,930.00. Following the sale, the chief financial officer now directly owns 279,285 shares in the company, valued at approximately $10,330,752.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,918 shares of company stock worth $1,244,860. Insiders own 18.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Sei Investments Co. boosted its position in shares of 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 during the last quarter. Albion Financial Group UT raised its position in Essent Group by 0.9% in the second quarter. Albion Financial Group UT now owns 15,704 shares of the financial services provider’s stock worth $583,000 after buying an additional 145 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in Essent Group by 0.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,746 shares of the financial services provider’s stock worth $845,000 after buying an additional 200 shares in the last quarter. US Bancorp DE raised its position in Essent Group by 4.6% in the first quarter. US Bancorp DE now owns 4,946 shares of the financial services provider’s stock worth $179,000 after buying an additional 218 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. raised its position in Essent Group by 0.4% in the second quarter. Riggs Asset Managment Co. Inc. now owns 57,668 shares of the financial services provider’s stock worth $2,142,000 after buying an additional 246 shares in the last quarter. Institutional investors own 85.81% 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.

Analyst Recommendations for Essent Group (NYSE:ESNT)

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