Essent Group (NYSE:ESNT) issued its quarterly earnings results on Friday. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01, Morningstar.com reports. Essent Group had a return on equity of 18.55% and a net margin of 51.64%. The company had revenue of $161.77 million for the quarter, compared to analysts’ expectations of $155.22 million. During the same period last year, the firm earned $0.68 EPS. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis.

Essent Group (NYSE ESNT) opened at $43.92 on Friday. The stock has a market capitalization of $4,323.22, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.10 and a beta of 1.15. Essent Group has a 1-year low of $33.45 and a 1-year high of $50.08.

In related news, Director Andrew Turnbull sold 15,813 shares of Essent Group stock in a transaction on Monday, December 4th. The stock was sold at an average price of $45.62, for a total value of $721,389.06. Following the transaction, the director now directly owns 45,409 shares in the company, valued at approximately $2,071,558.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Glanville sold 3,000 shares of Essent Group stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $44.88, for a total value of $134,640.00. The disclosure for this sale can be found here. Insiders sold a total of 34,013 shares of company stock worth $1,546,045 over the last 90 days. Insiders own 18.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Essent Group by 24.7% in the 4th quarter. BlackRock Inc. now owns 7,903,032 shares of the financial services provider’s stock worth $343,152,000 after acquiring an additional 1,562,879 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Essent Group by 57.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,351,264 shares of the financial services provider’s stock worth $95,226,000 after acquiring an additional 860,300 shares during the last quarter. Boston Partners grew its holdings in shares of Essent Group by 14.9% in the 4th quarter. Boston Partners now owns 1,455,876 shares of the financial services provider’s stock worth $63,214,000 after acquiring an additional 188,675 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Essent Group by 11.5% in the 3rd quarter. Macquarie Group Ltd. now owns 1,340,407 shares of the financial services provider’s stock worth $54,286,000 after acquiring an additional 137,846 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Essent Group by 23.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,206,810 shares of the financial services provider’s stock worth $48,876,000 after acquiring an additional 228,715 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Several brokerages have recently issued reports on ESNT. BidaskClub upgraded Essent Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 18th. Wells Fargo & Co reiterated a “buy” rating and set a $58.00 price target on shares of Essent Group in a research report on Friday. Susquehanna Bancshares set a $62.00 price target on Essent Group and gave the company a “buy” rating in a research report on Friday. Deutsche Bank lifted their price target on Essent Group from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Barclays lifted their price target on Essent Group from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $51.09.

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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.

Earnings History for Essent Group (NYSE:ESNT)

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