Essent Group Ltd. (ESNT) Receives “Buy” Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reissued their buy rating on shares of Essent Group Ltd. (NYSE:ESNT) in a research report report published on Thursday. The firm currently has a $44.00 target price on the financial services provider’s stock.
ESNT has been the subject of several other reports. Zacks Investment Research lowered Essent Group from a buy rating to a hold rating in a research report on Tuesday, October 10th. BTIG Research upgraded Essent Group from a neutral rating to a buy rating and set a $44.00 price objective on the stock in a report on Tuesday, September 12th. Deutsche Bank AG boosted their target price on Essent Group from $42.00 to $48.00 and gave the company a buy rating in a research note on Tuesday, August 8th. Compass Point restated a buy rating and issued a $50.00 target price (up previously from $38.00) on shares of Essent Group in a research note on Wednesday, October 11th. Finally, BidaskClub cut Essent Group from a hold rating to a sell rating in a research note on Friday, September 8th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Essent Group currently has an average rating of Buy and an average target price of $44.75.
Essent Group (ESNT) opened at 41.60 on Thursday. The company has a 50-day moving average of $39.18 and a 200-day moving average of $37.86. Essent Group has a 12 month low of $25.84 and a 12 month high of $41.72. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 14.80 and a beta of 1.14.
Essent Group (NYSE:ESNT) last announced its earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.09. The company had revenue of $137.61 million during the quarter, compared to analyst estimates of $131.99 million. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. Analysts predict that Essent Group will post $3.05 EPS for the current year.
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In related news, VP David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $38.91, for a total transaction of $77,820.00. Following the completion of the sale, the vice president now owns 28,785 shares of the company’s stock, valued at $1,120,024.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mary Lourdes Gibbons sold 4,600 shares of the firm’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 value of $188,784.00. Following the sale, the senior vice president now directly owns 262,902 shares of the company’s stock, valued at approximately $10,789,498.08. The disclosure for this sale can be found here. Insiders sold 16,711 shares of company stock valued at $668,597 over the last quarter. Corporate insiders own 18.10% of the company’s stock.
A number of large investors have recently made changes to their positions in ESNT. Sei Investments Co. boosted its holdings in 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 acquiring an additional 74 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Essent Group by 14.0% in the first quarter. BNP Paribas Arbitrage SA now owns 2,924 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 360 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Essent Group by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 288 shares in the last quarter. US Bancorp DE lifted its holdings 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 purchasing an additional 218 shares in the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA bought a new position in shares of Essent Group in the second quarter valued at approximately $201,000. Institutional investors and hedge funds own 81.40% of the company’s stock.
About Essent Group
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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