Barclays PLC Increases Essent Group Ltd. (ESNT) Price Target to $45.00
Essent Group Ltd. (NYSE:ESNT) had its price target boosted by equities research analysts at Barclays PLC from $43.00 to $45.00 in a research note issued on Monday. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays PLC’s price objective indicates a potential upside of 12.44% from the company’s current price.
Several other analysts have also issued reports on ESNT. Keefe, Bruyette & Woods set a $43.00 target price on Essent Group and gave the stock a “hold” rating in a report on Monday. BidaskClub downgraded Essent Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised Essent Group from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Wednesday, July 26th. ValuEngine raised Essent Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. Finally, Bank of America Corporation raised Essent Group from an “underperform” rating to a “buy” rating and upped their target price for the company from $38.00 to $43.00 in a research report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $41.83.
Shares of Essent Group (NYSE ESNT) traded up 1.82% on Monday, hitting $40.75. The stock had a trading volume of 1,131,668 shares. Essent Group has a one year low of $24.89 and a one year high of $41.44. The stock has a market capitalization of $3.81 billion, a PE ratio of 15.61 and a beta of 1.14. The firm’s 50 day moving average is $37.71 and its 200-day moving average is $36.37.
Essent Group (NYSE:ESNT) last released its earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.09. Essent Group had a return on equity of 19.26% 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 prior year, the company posted $0.57 earnings per share. Essent Group’s revenue was up 27.2% on a year-over-year basis. Equities research analysts expect that Essent Group will post $2.94 earnings per share for the current fiscal year.
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In other news, SVP Mary Lourdes Gibbons sold 4,600 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.01, for a total value of $184,046.00. Following the completion of the transaction, the senior vice president now directly owns 267,502 shares in the company, valued at approximately $10,702,755.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Lawrence E. Mcalee, Jr. sold 2,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $38.01, for a total value of $76,020.00. Following the completion of the transaction, the chief financial officer now owns 279,285 shares of the company’s stock, valued at $10,615,622.85. The disclosure for this sale can be found here. Insiders have sold 25,318 shares of company stock valued at $978,176 over the last 90 days. Corporate insiders own 18.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. James Investment Research Inc. bought a new stake in Essent Group during the first quarter worth $144,000. Evanson Asset Management LLC bought a new stake in Essent Group during the first quarter worth $215,000. Bank of America Corp DE increased its stake in Essent Group by 8.0% in the first quarter. Bank of America Corp DE now owns 378,798 shares of the financial services provider’s stock worth $13,701,000 after buying an additional 27,952 shares during the last quarter. Cim LLC increased its stake in Essent Group by 2.9% in the first quarter. Cim LLC now owns 17,110 shares of the financial services provider’s stock worth $619,000 after buying an additional 480 shares during the last quarter. Finally, US Bancorp DE increased its stake in Essent Group by 4.6% in the first quarter. US Bancorp DE now owns 4,946 shares of the financial services provider’s stock worth $179,000 after buying an additional 218 shares during the last quarter. Institutional investors and hedge funds own 86.12% 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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