Essent Group Ltd. (NYSE:ESNT) Stock Has Consensus Target Price of $70.75 According to Analysts

Shares of Essent Group Ltd. (NYSE:ESNT) have been given a consensus rating of “Hold” by the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $70.75.

ESNT has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their price target on shares of Essent Group from $74.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. JPMorgan Chase & Co. increased their price objective on Essent Group from $66.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday. Roth Capital lifted their price objective on Essent Group from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Bank of America downgraded Essent Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $78.00 to $68.00 in a research note on Friday, October 30th. Finally, Barclays dropped their price objective on Essent Group from $66.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday.

Insider Buying and Selling

In other news, CFO David Weinstock sold 5,500 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $68.54, for a total transaction of $376,970.00. Following the transaction, the chief financial officer owned 29,994 shares in the company, valued at $2,055,788.76. This represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Casale sold 49,042 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $71.09, for a total transaction of $3,486,395.78. Following the transaction, the chief executive officer owned 1,989,851 shares in the company, valued at approximately $141,458,507.59. This trade represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 118,705 shares of company stock valued at $8,352,951. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Essent Group

A number of large investors have recently bought and sold shares of ESNT. AlphaGrep UK Ltd raised its position in shares of Essent Group by 69.8% in the third quarter. AlphaGrep UK Ltd now owns 7,840 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 3,223 shares during the period. First Trust Advisors LP lifted its stake in shares of Essent Group by 63.4% in the third quarter. First Trust Advisors LP now owns 987,274 shares of the financial services provider’s stock worth $57,173,000 after buying an additional 383,120 shares during the last quarter. Ieq Capital LLC boosted its holdings in shares of Essent Group by 45.6% during the 3rd quarter. Ieq Capital LLC now owns 48,970 shares of the financial services provider’s stock worth $2,836,000 after buying an additional 15,348 shares during the period. Focus Advisor Solutions LLC bought a new stake in shares of Essent Group during the 3rd quarter worth $361,000. Finally, Boston Partners boosted its holdings in shares of Essent Group by 86.2% during the 3rd quarter. Boston Partners now owns 689,598 shares of the financial services provider’s stock worth $40,284,000 after buying an additional 319,322 shares during the period. 93.00% of the stock is currently owned by institutional investors.

Essent Group Stock Performance

Shares of ESNT opened at $64.87 on Friday. The company has a market capitalization of $5.71 billion, a PE ratio of 8.86, a PEG ratio of 1.64 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.18 and a current ratio of 1.05. The company’s 50 day moving average price is $65.30 and its 200 day moving average price is $63.16. Essent Group has a 52 week low of $55.34 and a 52 week high of $71.84.

Essent Group (NYSE:ESNT) last released its earnings results on Friday, November 6th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.03). The company had revenue of $374.18 million during the quarter, compared to analysts’ expectations of $344.17 million. Essent Group had a return on equity of 11.99% and a net margin of 49.08%. During the same quarter in the previous year, the company earned $1.67 EPS. Research analysts expect that Essent Group will post 7.58 EPS for the current fiscal year.

Essent Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, December 1st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Essent Group’s payout ratio is currently 19.13%.

About Essent Group

Essent Group is a Bermuda-based provider of mortgage insurance and reinsurance, operating primarily in the United States. Its services help mortgage lenders manage the credit risk associated with residential home loans. Through its U.S. mortgage insurance subsidiary, Essent Guaranty, the company provides private mortgage insurance for eligible borrowers who make smaller down payments on conventional mortgages. The coverage can help lenders reduce potential losses if a borrower defaults. Essent also provides mortgage reinsurance through its reinsurance operations.