Insider Selling: Essent Group Ltd. (ESNT) CFO Sells $220,639.20 in Stock
Essent Group Ltd. (NYSE:ESNT) CFO Lawrence E. Mcalee, Jr. sold 7,404 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $29.80, for a total transaction of $220,639.20. Following the sale, the chief financial officer now directly owns 280,719 shares in the company, valued at approximately $8,365,426.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Essent Group Ltd. (NYSE:ESNT) opened at 28.49 on Thursday. Essent Group Ltd. has a one year low of $16.49 and a one year high of $30.05. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 12.78 and a beta of 1.08. The stock’s 50 day moving average is $27.49 and its 200 day moving average is $24.54.
Essent Group (NYSE:ESNT) last issued its quarterly earnings results on Friday, November 4th. The company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.07. The firm had revenue of $121.25 million for the quarter, compared to analyst estimates of $112.13 million. Essent Group had a net margin of 47.60% and a return on equity of 16.76%. The business’s revenue for the quarter was up 32.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, analysts predict that Essent Group Ltd. will post $2.35 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of ESNT. Acrospire Investment Management LLC raised its position 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 worth $105,000 after buying an additional 3,200 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Essent Group during the third quarter valued at approximately $122,000. Quantbot Technologies LP acquired a new position in Essent Group during the second quarter valued at approximately $167,000. BNP Paribas Arbitrage SA raised its position in Essent Group by 98.4% in the third quarter. BNP Paribas Arbitrage SA now owns 6,542 shares of the company’s stock valued at $174,000 after buying an additional 3,245 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position 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 valued at $200,000 after buying an additional 1,757 shares in the last quarter. 88.51% of the stock is currently owned by hedge funds and other institutional investors.
ESNT has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Friday, August 5th. Barclays PLC set a $30.00 price target on shares of Essent Group and gave the stock a “buy” rating in a report on Saturday, September 17th. Credit Suisse Group AG reiterated a “hold” rating on shares of Essent Group in a report on Monday, August 8th. Keefe, Bruyette & Woods lowered shares of Essent Group from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $26.00 to $26.50 in a report on Friday, August 5th. Finally, Compass Point lifted their price target on shares of Essent Group from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $26.85.
About Essent Group
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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