Lawrence E. Mcalee, Jr. Sells 2,000 Shares of Essent Group Ltd. (ESNT) Stock
Essent Group Ltd. (NYSE:ESNT) CFO Lawrence E. Mcalee, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $27.50, for a total value of $55,000.00. Following the transaction, the chief financial officer now owns 290,263 shares in the company, valued at approximately $7,982,232.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Essent Group Ltd. (NYSE:ESNT) opened at 27.96 on Tuesday. Essent Group Ltd. has a one year low of $16.49 and a one year high of $28.62. The firm has a market cap of $2.60 billion, a PE ratio of 13.84 and a beta of 1.09. The firm’s 50-day moving average price is $26.91 and its 200-day moving average price is $23.41.
Essent Group (NYSE:ESNT) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. The company had revenue of $108.50 million for the quarter, compared to analysts’ expectations of $105.30 million. Essent Group had a return on equity of 15.98% and a net margin of 46.40%. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. Equities research analysts expect that Essent Group Ltd. will post $2.28 earnings per share for the current fiscal year.
Several research firms have issued reports on ESNT. Barclays PLC set a $30.00 target price on Essent Group and gave the stock a “buy” rating in a research report on Saturday, September 17th. Bank of America Corp. cut Essent Group from a “buy” rating to a “neutral” rating in a report on Wednesday, September 28th. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Friday, August 5th. JPMorgan Chase & Co. upped their price target on Essent Group from $26.50 to $29.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Finally, Credit Suisse Group AG restated a “hold” rating on shares of Essent Group in a report on Monday, August 8th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $26.61.
Several large investors have recently added to or reduced their stakes in ESNT. Acrospire Investment Management LLC boosted its stake in Essent Group by 200.0% in the second quarter. Acrospire Investment Management LLC now owns 4,800 shares of the company’s stock worth $105,000 after buying an additional 3,200 shares during the period. Quantbot Technologies LP acquired a new stake in Essent Group during the second quarter worth $167,000. BNP Paribas Arbitrage SA boosted its stake in Essent Group by 98.4% in the third quarter. BNP Paribas Arbitrage SA now owns 6,542 shares of the company’s stock worth $174,000 after buying an additional 3,245 shares during the period. Teacher Retirement System of Texas boosted its stake in Essent Group by 23.8% in the second quarter. Teacher Retirement System of Texas now owns 9,152 shares of the company’s stock worth $200,000 after buying an additional 1,757 shares during the period. Finally, Amalgamated Bank acquired a new stake in Essent Group during the second quarter worth $204,000. 87.29% of the stock is currently owned by institutional investors.
Essent Group Company Profile
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in serving the United States housing finance industry. It offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The primary mortgage insurance operations are conducted through Essent Guaranty, Inc (Essent Guaranty), a subsidiary of the company, which maintains operations centers and operates additional underwriting and service centers in Winston-Salem, North Carolina and Irvine, California.
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