Essent Group Ltd. (ESNT) CFO Lawrence E. Mcalee, Jr. Sells 2,000 Shares
Essent Group Ltd. (NYSE:ESNT) CFO Lawrence E. Mcalee, Jr. sold 2,000 shares of Essent Group stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $27.50, for a total transaction of $55,000.00. Following the completion of the transaction, the chief financial officer now directly owns 290,263 shares in the company, valued at approximately $7,982,232.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Essent Group Ltd. (NYSE:ESNT) traded up 0.80% during mid-day trading on Friday, hitting $27.82. 376,511 shares of the stock traded hands. The company has a 50 day moving average of $26.87 and a 200-day moving average of $23.26. The stock has a market cap of $2.59 billion, a PE ratio of 13.77 and a beta of 1.09. Essent Group Ltd. has a 12-month low of $16.49 and a 12-month high of $28.62.
Essent Group (NYSE:ESNT) last issued its earnings results on Thursday, August 4th. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.04. The firm had revenue of $108.50 million for the quarter, compared to analysts’ expectations of $105.30 million. Essent Group had a net margin of 46.40% and a return on equity of 15.98%. The firm’s revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. Equities research analysts forecast that Essent Group Ltd. will post $2.28 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. Acrospire Investment Management LLC boosted its stake in shares of Essent Group by 200.0% in the second quarter. Acrospire Investment Management LLC now owns 4,800 shares of the company’s stock valued at $105,000 after buying an additional 3,200 shares during the period. 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 last quarter. Quantbot Technologies LP bought a new stake in Essent Group during the second quarter worth $167,000. Amalgamated Bank bought a new stake in Essent Group during the second quarter worth $204,000. Finally, 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 last quarter. 85.92% of the stock is currently owned by hedge funds and other institutional investors.
ESNT has been the topic of several research analyst reports. Bank of America Corp. downgraded shares of Essent Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 28th. Barclays PLC boosted their target price on shares of Essent Group from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 7th. Zacks Investment Research downgraded shares of Essent Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Credit Suisse Group AG reissued a “hold” rating on shares of Essent Group in a research report on Monday, August 8th. Finally, TheStreet raised shares of Essent Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 14th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $26.61.
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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