Essent Group Ltd. (NYSE:ESNT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Essent Group Ltd. (NYSE:ESNTGet Free Report) have been given an average rating of “Hold” by the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $59.25.

Several brokerages have commented on ESNT. JPMorgan Chase & Co. downgraded Essent Group from an “overweight” rating to a “neutral” rating and increased their target price for the company from $58.00 to $61.00 in a research note on Wednesday, April 3rd. StockNews.com downgraded Essent Group from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Royal Bank of Canada dropped their price target on Essent Group from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Keefe, Bruyette & Woods raised their price target on Essent Group from $62.00 to $64.00 and gave the stock a “market perform” rating in a research note on Thursday, April 4th. Finally, UBS Group raised their price target on Essent Group from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd.

Check Out Our Latest Report on Essent Group

Insider Activity at Essent Group

In related news, Director Douglas J. Pauls sold 2,500 shares of Essent Group stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $56.12, for a total transaction of $140,300.00. Following the transaction, the director now directly owns 27,112 shares in the company, valued at $1,521,525.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Essent Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust raised its holdings in Essent Group by 18.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,543 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 241 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Essent Group by 0.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,198 shares of the financial services provider’s stock valued at $2,542,000 after acquiring an additional 267 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Essent Group by 2.9% in the first quarter. Janney Montgomery Scott LLC now owns 10,297 shares of the financial services provider’s stock worth $613,000 after purchasing an additional 287 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Essent Group in the fourth quarter worth about $26,000. Finally, State of Michigan Retirement System increased its holdings in shares of Essent Group by 2.0% in the first quarter. State of Michigan Retirement System now owns 26,133 shares of the financial services provider’s stock worth $1,555,000 after purchasing an additional 500 shares during the last quarter. 93.00% of the stock is owned by institutional investors.

Essent Group Stock Up 0.4 %

ESNT stock opened at $55.96 on Friday. Essent Group has a twelve month low of $44.21 and a twelve month high of $59.90. The firm has a market cap of $5.97 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09. The business has a 50 day moving average of $55.30 and a 200 day moving average of $54.39.

Essent Group (NYSE:ESNTGet Free Report) last issued its earnings results on Friday, May 3rd. The financial services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.56 by $0.14. Essent Group had a return on equity of 14.24% and a net margin of 61.40%. The business had revenue of $298.40 million for the quarter, compared to the consensus estimate of $298.69 million. During the same period last year, the business posted $1.59 EPS. The company’s revenue was up 16.4% compared to the same quarter last year. On average, research analysts expect that Essent Group will post 6.73 earnings per share for the current fiscal year.

Essent Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 31st were given a dividend of $0.28 per share. The ex-dividend date was Friday, May 31st. This represents a $1.12 annualized dividend and a yield of 2.00%. Essent Group’s dividend payout ratio (DPR) is presently 16.94%.

About Essent Group

(Get Free Report

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its mortgage insurance products include primary, pool, and master policy. The company also provides information technology maintenance and development services; customer support-related services; underwriting consulting; and contract underwriting services, as well as risk management products and title insurance and settlement services.

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Analyst Recommendations for Essent Group (NYSE:ESNT)

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