Essent Group Ltd. (ESNT) Stock Rating Lowered by BidaskClub
Essent Group Ltd. (NYSE:ESNT) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Wednesday, July 26th. Deutsche Bank AG boosted their price objective on Essent Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Barclays PLC restated a “buy” rating on shares of Essent Group in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods restated a “hold” rating and set a $40.00 price objective on shares of Essent Group in a research report on Tuesday, May 30th. Finally, ValuEngine upgraded Essent Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $43.67.
Essent Group (ESNT) traded up 0.69% during mid-day trading on Friday, hitting $36.42. The stock had a trading volume of 297,681 shares. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 12.96 and a beta of 1.14. The stock’s 50 day moving average price is $38.45 and its 200 day moving average price is $37.02. Essent Group has a one year low of $25.72 and a one year high of $41.44.
Essent Group (NYSE:ESNT) last released its quarterly earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.09. The business had revenue of $137.61 million during the quarter, compared to analysts’ expectations of $131.99 million. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. Analysts forecast that Essent Group will post $3.06 EPS for the current year.
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In other Essent Group news, SVP Mary Lourdes Gibbons sold 4,207 shares of Essent Group stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $39.00, for a total transaction of $164,073.00. Following the transaction, the senior vice president now directly owns 275,495 shares of the company’s stock, valued at approximately $10,744,305. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Lawrence E. Mcalee, Jr. sold 2,000 shares of Essent Group stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $38.01, for a total value of $76,020.00. Following the transaction, the chief financial officer now directly owns 279,285 shares in the company, valued at $10,615,622.85. The disclosure for this sale can be found here. Insiders have sold a total of 31,918 shares of company stock worth $1,244,860 in the last 90 days. 18.10% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. lifted its holdings in Essent Group by 2.6% during the 1st quarter. Sei Investments Co. now owns 2,909 shares of the financial services provider’s stock worth $105,000 after buying an additional 74 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Essent Group by 14.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,924 shares of the financial services provider’s stock worth $106,000 after buying an additional 360 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Essent Group by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock worth $117,000 after buying an additional 288 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in Essent Group during the 1st quarter worth about $120,000. Finally, Quantbot Technologies LP lifted its holdings in Essent Group by 186.3% during the 1st quarter. Quantbot Technologies LP now owns 4,203 shares of the financial services provider’s stock worth $152,000 after buying an additional 2,735 shares during the period. 81.44% of the stock is currently owned by hedge funds and other institutional investors.
Essent Group Company Profile
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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