Essent Group (NYSE:ESNT) Hits New 12-Month High – What’s Next?

Shares of Essent Group Ltd. (NYSE:ESNT) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $70.37 and last traded at $70.0740, with a volume of 27584 shares. The stock had previously closed at $69.43.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ESNT shares. Royal Bank Of Canada upped their price target on shares of Essent Group from $68.00 to $75.00 and gave the company a “sector perform” rating in a research note on Monday, August 10th. Roth Capital boosted their price objective on Essent Group from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Keefe, Bruyette & Woods lifted their price target on 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. boosted their price objective on shares of Essent Group from $65.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised Essent Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $71.86.

Essent Group Stock Up 0.8%

The firm has a market cap of $6.29 billion, a PE ratio of 9.77, a PEG ratio of 1.79 and a beta of 0.76. The stock has a 50 day simple moving average of $64.21 and a 200-day simple moving average of $61.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.18 and a quick ratio of 1.18.

Essent Group (NYSE:ESNT) last announced its quarterly earnings data on Tuesday, June 30th. The financial services provider reported $2.08 EPS for the quarter. Essent Group had a net margin of 51.45% and a return on equity of 11.91%. The company had revenue of $362.69 million for the quarter. Sell-side analysts predict that Essent Group Ltd. will post 7.42 EPS for the current fiscal year.

Essent Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.40 annualized dividend and a dividend yield of 2.0%. Essent Group’s dividend payout ratio (DPR) is 19.53%.

Insider Activity

In other news, CFO David B. Weinstock sold 5,500 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $63.51, for a total transaction of $349,305.00. Following the sale, the chief financial officer owned 35,494 shares of the company’s stock, valued at $2,254,223.94. This trade represents a 13.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Casale sold 29,329 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $65.35, for a total transaction of $1,916,650.15. Following the completion of the sale, the chief executive officer owned 2,184,143 shares in the company, valued at $142,733,745.05. This represents a 1.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 40,320 shares of company stock valued at $2,625,422 in the last 90 days. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Essent Group

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new stake in Essent Group during the third quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Essent Group during the 3rd quarter valued at approximately $27,000. Los Angeles Capital Management LLC purchased a new stake in shares of Essent Group in the fourth quarter worth about $27,000. Allworth Financial LP bought a new stake in Essent Group in the 2nd quarter worth approximately $31,000. Finally, IFP Advisors Inc increased its position in Essent Group by 97.1% in the fourth quarter. IFP Advisors Inc now owns 676 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 333 shares during the last quarter. Institutional investors own 93.00% of the company’s stock.

Essent Group Company Profile

Essent Group Ltd. (NYSE: ESNT) is a publicly traded insurance holding company specializing in private mortgage insurance and mortgage reinsurance solutions. Through its primary subsidiary, Essent Guaranty, the company provides credit protection to mortgage lenders, helping mitigate the risk of borrower default on residential mortgage loans. Essent’s insurance policies enable lenders to offer low-down-payment programs, supporting homebuyers in achieving homeownership with reduced upfront equity requirements.

Beyond traditional mortgage insurance, Essent offers a suite of risk management and analytics services designed to help financial institutions monitor and manage mortgage portfolios.