Essent Group’s (ESNT) “Buy” Rating Reiterated at Compass Point
Essent Group Ltd. (NYSE:ESNT)‘s stock had its “buy” rating reaffirmed by investment analysts at Compass Point in a report issued on Wednesday. They presently have a $50.00 price target on the financial services provider’s stock. Compass Point’s target price indicates a potential upside of 25.94% from the company’s previous close.
ESNT has been the topic of several other research reports. BidaskClub lowered Essent Group from a “hold” rating to a “sell” rating in a report on Friday, September 8th. Zacks Investment Research lowered Essent Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Barclays PLC reiterated a “buy” rating on shares of Essent Group in a report on Wednesday, August 9th. Deutsche Bank AG lifted their price target on Essent Group from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Finally, Keefe, Bruyette & Woods upgraded Essent Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $43.00 to $44.00 in a report on Wednesday, August 23rd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $44.75.
Essent Group (ESNT) traded up 1.56% on Wednesday, reaching $40.32. 323,466 shares of the company’s stock were exchanged. Essent Group has a one year low of $25.84 and a one year high of $41.44. The firm has a 50 day moving average price of $39.01 and a 200 day moving average price of $37.75. The firm has a market cap of $3.97 billion, a PE ratio of 14.35 and a beta of 1.14.
Essent Group (NYSE:ESNT) last posted its quarterly earnings results on Friday, August 4th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.68 by $0.09. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. The business had revenue of $137.61 million for the quarter, compared to analyst estimates of $131.99 million. During the same quarter in the previous year, the firm earned $0.57 EPS. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, equities analysts anticipate that Essent Group will post $3.04 earnings per share for the current year.
In related news, VP David B. Weinstock sold 2,000 shares of the business’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $38.51, for a total value of $77,020.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mary Lourdes Gibbons sold 4,207 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $39.00, for a total transaction of $164,073.00. Following the completion of the sale, the senior vice president now owns 275,495 shares in the company, valued at $10,744,305. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,918 shares of company stock worth $909,690. 18.10% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. raised its holdings in Essent Group by 2.6% in the 1st quarter. Sei Investments Co. now owns 2,909 shares of the financial services provider’s stock valued at $105,000 after buying an additional 74 shares during the period. Albion Financial Group UT grew its position in Essent Group by 0.9% in the 2nd quarter. Albion Financial Group UT now owns 15,704 shares of the financial services provider’s stock valued at $583,000 after acquiring an additional 145 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its position in Essent Group by 0.9% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,746 shares of the financial services provider’s stock valued at $845,000 after acquiring an additional 200 shares in the last quarter. US Bancorp DE grew its position in Essent Group by 4.6% in the 1st quarter. US Bancorp DE now owns 4,946 shares of the financial services provider’s stock valued at $179,000 after acquiring an additional 218 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. grew its position in Essent Group by 0.4% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 57,668 shares of the financial services provider’s stock valued at $2,142,000 after acquiring an additional 246 shares in the last quarter. Hedge funds and other institutional investors 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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