Essent Group Ltd. (ESNT) Rating Increased to Hold at BidaskClub
Essent Group Ltd. (NYSE:ESNT) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
ESNT has been the topic of a number of other reports. BTIG Research raised Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, September 12th. Zacks Investment Research raised Essent Group from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Friday, September 8th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $40.00 target price on shares of Essent Group in a report on Tuesday, May 30th. ValuEngine raised Essent Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 9th. Finally, Barclays PLC boosted their target price on Essent Group from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Essent Group currently has an average rating of “Buy” and a consensus target price of $43.43.
Shares of Essent Group (ESNT) opened at 39.08 on Friday. The stock has a 50 day moving average of $38.45 and a 200 day moving average of $37.16. The firm has a market cap of $3.65 billion, a P/E ratio of 13.91 and a beta of 1.14. Essent Group has a 52 week low of $25.84 and a 52 week high of $41.44.
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, topping 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 company had revenue of $137.61 million for the quarter, compared to analysts’ expectations of $131.99 million. During the same quarter in the prior year, the business posted $0.57 EPS. The business’s revenue was up 27.2% compared to the same quarter last year. Equities analysts forecast that Essent Group will post $3.06 earnings per share for the current year.
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In related news, SVP Mary Lourdes Gibbons sold 4,600 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $41.04, for a total transaction of $188,784.00. Following the transaction, the senior vice president now directly owns 262,902 shares of the company’s stock, valued at approximately $10,789,498.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Lawrence E. Mcalee, Jr. sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $36.99, for a total value of $258,930.00. Following the transaction, the chief financial officer now directly owns 279,285 shares in the company, valued at $10,330,752.15. The disclosure for this sale can be found here. Insiders have sold a total of 31,918 shares of company stock worth $1,244,860 over the last three months. 18.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA grew its holdings in Essent Group by 1,181.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 37,484 shares of the financial services provider’s stock valued at $1,392,000 after buying an additional 34,560 shares in the last quarter. Bank of America Corp DE grew its holdings in Essent Group by 8.0% in the 1st 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. Renaissance Group LLC grew its holdings in Essent Group by 5.5% in the 2nd quarter. Renaissance Group LLC now owns 23,276 shares of the financial services provider’s stock valued at $864,000 after buying an additional 1,205 shares in the last quarter. US Bancorp DE grew its holdings in Essent Group by 4.6% in the 1st 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. Finally, OppenheimerFunds Inc. acquired a new position in Essent Group in the 1st quarter valued at $13,415,000. 81.44% of the stock is currently owned by hedge funds and other institutional investors.
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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