Essent Group (ESNT) PT Set at $62.00 by Susquehanna Bancshares

Essent Group (NYSE:ESNT) has been assigned a $62.00 price objective by stock analysts at Susquehanna Bancshares in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the financial services provider’s stock. Susquehanna Bancshares’ price target indicates a potential upside of 41.17% from the company’s previous close.

Several other analysts also recently commented on the company. Deutsche Bank raised their price objective on Essent Group from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised Essent Group from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Monday, December 25th. ValuEngine downgraded Essent Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Royal Bank of Canada initiated coverage on Essent Group in a research note on Wednesday, December 20th. They set an “outperform” rating and a $54.00 price objective on the stock. Finally, BTIG Research raised their price objective on Essent Group from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $51.09.

Essent Group (NYSE ESNT) opened at $43.92 on Friday. Essent Group has a 12-month low of $33.45 and a 12-month high of $50.08. The stock has a market capitalization of $4,380.00, a price-to-earnings ratio of 14.74, a PEG ratio of 1.09 and a beta of 1.15.

Essent Group (NYSE:ESNT) last posted its quarterly earnings results on Friday, February 9th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The business had revenue of $161.77 million for the quarter, compared to analyst estimates of $155.22 million. Essent Group had a return on equity of 18.55% and a net margin of 51.64%. The firm’s revenue was up 28.0% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. equities analysts forecast that Essent Group will post 3.07 EPS for the current year.

In other Essent Group news, Director Robert Glanville sold 3,000 shares of Essent Group stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $44.88, for a total value of $134,640.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andrew Turnbull sold 15,813 shares of Essent Group stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $45.62, for a total value of $721,389.06. Following the completion of the sale, the director now directly owns 45,409 shares in the company, valued at approximately $2,071,558.58. The disclosure for this sale can be found here. Insiders sold a total of 34,013 shares of company stock worth $1,546,045 in the last three months. Company insiders own 18.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Essent Group by 24.7% in the 4th quarter. BlackRock Inc. now owns 7,903,032 shares of the financial services provider’s stock valued at $343,152,000 after purchasing an additional 1,562,879 shares during the period. Victory Capital Management Inc. raised its stake in shares of Essent Group by 57.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,351,264 shares of the financial services provider’s stock valued at $95,226,000 after purchasing an additional 860,300 shares during the period. Boston Partners raised its stake in shares of Essent Group by 14.9% in the 4th quarter. Boston Partners now owns 1,455,876 shares of the financial services provider’s stock valued at $63,214,000 after purchasing an additional 188,675 shares during the period. Macquarie Group Ltd. raised its stake in shares of Essent Group by 11.5% in the 3rd quarter. Macquarie Group Ltd. now owns 1,340,407 shares of the financial services provider’s stock valued at $54,286,000 after purchasing an additional 137,846 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake in shares of Essent Group by 23.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,206,810 shares of the financial services provider’s stock valued at $48,876,000 after purchasing an additional 228,715 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

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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)

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