Essent Group Ltd. (NYSE:ESNT) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also weighed in on ESNT. Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, July 26th. BTIG Research raised shares of Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday. Deutsche Bank AG boosted their price objective on shares of Essent Group from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. Barclays PLC reissued a “buy” rating on shares of Essent Group in a research report on Wednesday, August 9th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $40.00 price objective on shares of Essent Group in a research report on Tuesday, May 30th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $43.43.

Shares of Essent Group (ESNT) traded up 0.83% during mid-day trading on Friday, hitting $39.08. 1,226,462 shares of the stock were exchanged. Essent Group has a one year low of $25.84 and a one year high of $41.44. The company has a 50-day moving average of $38.45 and a 200 day moving average of $37.16. The stock has a market cap of $3.65 billion, a PE ratio of 13.91 and a beta of 1.14.

Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Friday, August 4th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The business had revenue of $137.61 million during the quarter, compared to analyst estimates of $131.99 million. Essent Group had a net margin of 50.92% and a return on equity of 18.77%. The company’s revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 earnings per share. On average, equities analysts predict that Essent Group will post $3.06 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Essent Group Ltd. (ESNT) Upgraded to Hold by BidaskClub” was first published by American Banking News and is the property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/09/16/essent-group-ltd-esnt-upgraded-to-hold-by-bidaskclub.html.

In related news, CFO Lawrence E. Mcalee, Jr. sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $36.99, for a total transaction of $258,930.00. Following the completion of the transaction, the chief financial officer now owns 279,285 shares of the company’s stock, valued at $10,330,752.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lawrence E. Mcalee, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $38.01, for a total transaction of $76,020.00. Following the transaction, the chief financial officer now directly owns 279,285 shares of the company’s stock, valued at approximately $10,615,622.85. The disclosure for this sale can be found here. Insiders have sold 31,918 shares of company stock valued at $1,244,860 in the last ninety days. 18.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. Sei Investments Co. increased its position in Essent Group by 2.6% during the first quarter. Sei Investments Co. now owns 2,909 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 74 shares during the last quarter. Albion Financial Group UT increased its position in Essent Group by 0.9% during the second quarter. Albion Financial Group UT now owns 15,704 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 145 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Essent Group by 0.9% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,746 shares of the financial services provider’s stock worth $845,000 after purchasing an additional 200 shares during the last quarter. US Bancorp DE increased its position in Essent Group by 4.6% during the first quarter. US Bancorp DE now owns 4,946 shares of the financial services provider’s stock worth $179,000 after purchasing an additional 218 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its position in Essent Group by 0.4% during the second quarter. Riggs Asset Managment Co. Inc. now owns 57,668 shares of the financial services provider’s stock worth $2,142,000 after purchasing an additional 246 shares during the last quarter. 81.44% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Essent Group (NYSE:ESNT)

Receive News & Ratings for Essent Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essent Group Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.