Essent Group Ltd. (NYSE: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 the firm’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $39.02, for a total transaction of $78,040.00. Following the transaction, the chief financial officer now directly owns 275,285 shares in the company, valued at $10,741,620.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Essent Group Ltd. (ESNT) traded down 0.62% during trading on Tuesday, reaching $38.27. 557,050 shares of the company traded hands. The firm’s 50 day moving average price is $36.40 and its 200-day moving average price is $35.38. Essent Group Ltd. has a 52 week low of $21.68 and a 52 week high of $39.50. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 14.66 and a beta of 1.14.
Essent Group (NYSE:ESNT) last released its earnings results on Friday, May 5th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.03. The company had revenue of $127.60 million for the quarter, compared to analyst estimates of $126.70 million. Essent Group had a net margin of 49.91% and a return on equity of 18.16%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. Equities analysts anticipate that Essent Group Ltd. will post $2.94 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Essent Group by 8.4% in the first quarter. Vanguard Group Inc. now owns 7,171,835 shares of the financial services provider’s stock worth $259,405,000 after buying an additional 555,591 shares during the period. BlackRock Inc. increased its stake in shares of Essent Group by 6,828.8% in the first quarter. BlackRock Inc. now owns 5,844,752 shares of the financial services provider’s stock worth $211,403,000 after buying an additional 5,760,398 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Essent Group by 20.5% in the first quarter. American Century Companies Inc. now owns 2,623,677 shares of the financial services provider’s stock worth $94,898,000 after buying an additional 445,823 shares in the last quarter. State Street Corp increased its stake in shares of Essent Group by 16.6% in the first quarter. State Street Corp now owns 2,493,815 shares of the financial services provider’s stock worth $90,204,000 after buying an additional 355,289 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Essent Group by 14.6% in the first quarter. Macquarie Group Ltd. now owns 977,655 shares of the financial services provider’s stock worth $35,362,000 after buying an additional 124,455 shares in the last quarter. Institutional investors own 85.64% of the company’s stock.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Monday. ValuEngine raised shares of Essent Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $40.00 target price on shares of Essent Group in a research report on Tuesday, May 30th. Barclays PLC raised their target price on shares of Essent Group from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, May 15th. Finally, Bank of America Corporation raised shares of Essent Group from an “underperform” rating to a “buy” rating and raised their target price for the stock from $38.00 to $43.00 in a research report on Tuesday, May 9th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Essent Group presently has an average rating of “Buy” and an average price target of $39.00.
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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