Equities researchers at Royal Bank of Canada started coverage on shares of Essent Group (NYSE:ESNT) in a note issued to investors on Wednesday. The firm set an “outperform” rating and a $54.00 price target on the financial services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 19.68% from the company’s current price.
ESNT has been the subject of several other research reports. BTIG Research boosted their price objective on Essent Group from $49.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday. ValuEngine downgraded Essent Group from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Wells Fargo & Company assumed coverage on Essent Group in a report on Tuesday, November 28th. They set an “outperform” rating and a $52.00 price objective for the company. Zacks Investment Research upgraded Essent Group from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Finally, Barclays boosted their price objective on Essent Group from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, November 10th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Essent Group presently has an average rating of “Buy” and an average price target of $47.60.
Shares of Essent Group (NYSE ESNT) traded down $0.62 on Wednesday, reaching $45.12. The company’s stock had a trading volume of 497,000 shares, compared to its average volume of 692,665. Essent Group has a 12-month low of $31.54 and a 12-month high of $47.29. The firm has a market capitalization of $4,440.00, a price-to-earnings ratio of 15.30, a PEG ratio of 1.49 and a beta of 1.15.
In related news, SVP Mary Lourdes Gibbons sold 4,836 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $42.04, for a total transaction of $203,305.44. Following the completion of the sale, the senior vice president now owns 258,066 shares in the company, valued at $10,849,094.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew Turnbull sold 10,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the sale, the director now owns 45,409 shares of the company’s stock, valued at approximately $2,043,405. The disclosure for this sale can be found here. Insiders have sold 53,858 shares of company stock valued at $2,414,044 in the last quarter. 18.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in ESNT. GSA Capital Partners LLP grew its stake in Essent Group by 347.0% in the 3rd quarter. GSA Capital Partners LLP now owns 29,295 shares of the financial services provider’s stock valued at $1,186,000 after purchasing an additional 22,742 shares during the period. Insight Capital Research & Management Inc. bought a new position in Essent Group in the 3rd quarter valued at $957,000. California Public Employees Retirement System grew its stake in Essent Group by 14.3% in the 3rd quarter. California Public Employees Retirement System now owns 142,669 shares of the financial services provider’s stock valued at $5,778,000 after purchasing an additional 17,869 shares during the period. Bamco Inc. NY grew its stake in Essent Group by 26.3% in the 3rd quarter. Bamco Inc. NY now owns 754,174 shares of the financial services provider’s stock valued at $30,544,000 after purchasing an additional 157,000 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in Essent Group by 527.5% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 43,007 shares of the financial services provider’s stock valued at $1,742,000 after purchasing an additional 36,153 shares during the period. Institutional investors and hedge funds own 85.83% of the company’s stock.
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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.
