Essent Group Ltd. (NYSE:ESNT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Essent Group Ltd., through its subsidiaries, operates as a private mortgage insurance company. It serves originators of residential mortgage loans, such as regulated depository institutions, mortgage banks, credit unions, and other lenders. Essent Group Ltd. is based in Hamilton, Bermuda. “

A number of other equities analysts have also recently issued reports on ESNT. BidaskClub cut shares of Essent Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods set a $43.00 price objective on shares of Essent Group and gave the company a “hold” rating in a research note on Monday, August 7th. Barclays PLC raised their price objective on shares of Essent Group from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. Deutsche Bank AG raised their price objective on shares of Essent Group from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Finally, BTIG Research raised shares of Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Tuesday, September 12th. Three equities research 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. The company currently has a consensus rating of “Buy” and an average price target of $44.00.

Essent Group (ESNT) traded up 0.61% on Tuesday, hitting $39.70. The company’s stock had a trading volume of 568,383 shares. The company has a market capitalization of $3.71 billion, a P/E ratio of 14.13 and a beta of 1.14. Essent Group has a 1-year low of $25.84 and a 1-year high of $41.44. The company has a 50 day moving average price of $38.96 and a 200-day moving average price of $37.71.

Essent Group (NYSE:ESNT) last announced its quarterly earnings data on Friday, August 4th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. Essent Group had a net margin of 50.92% and a return on equity of 18.77%. The firm had revenue of $137.61 million for the quarter, compared to analysts’ expectations of $131.99 million. During the same period last year, the firm earned $0.57 earnings per share. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities analysts forecast that Essent Group will post $3.05 earnings per share for the current fiscal year.

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In related news, VP David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $38.51, for a total transaction of $77,020.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mary Lourdes Gibbons sold 4,600 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.01, for a total transaction of $184,046.00. Following the sale, the senior vice president now owns 267,502 shares in the company, valued at $10,702,755.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,918 shares of company stock worth $909,690. Insiders own 18.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its holdings in shares of Essent Group by 1,181.9% during the second quarter. BNP Paribas Arbitrage SA now owns 37,484 shares of the financial services provider’s stock worth $1,392,000 after acquiring an additional 34,560 shares during the period. Renaissance Group LLC raised its holdings in shares of Essent Group by 5.5% during the second quarter. Renaissance Group LLC now owns 23,276 shares of the financial services provider’s stock worth $864,000 after acquiring an additional 1,205 shares during the period. Bank of America Corp DE raised its holdings in shares of Essent Group by 8.0% during 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 acquiring an additional 27,952 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Essent Group by 18.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 735,340 shares of the financial services provider’s stock worth $27,311,000 after acquiring an additional 115,177 shares during the period. Finally, US Bancorp DE raised its holdings in shares of 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 acquiring an additional 218 shares during the period. Institutional investors and hedge funds own 81.40% 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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Analyst Recommendations for Essent Group (NYSE:ESNT)

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