Essent Group (ESNT) PT Raised to $60.75 at Compass Point

Essent Group (NYSE:ESNT) had its price objective increased by analysts at Compass Point from $57.50 to $60.75 in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Compass Point’s target price suggests a potential upside of 35.78% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Susquehanna Bancshares set a $62.00 price target on shares of Essent Group and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Co restated a “buy” rating and issued a $58.00 price target on shares of Essent Group in a research note on Friday. Deutsche Bank upgraded shares of Essent Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $49.00 to $61.00 in a research note on Monday, January 8th. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Monday, December 25th. Finally, Royal Bank of Canada began coverage on shares of Essent Group in a research note on Wednesday, December 20th. They issued an “outperform” rating and a $54.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $52.07.

Essent Group (NYSE:ESNT) traded up $0.82 during trading hours on Monday, hitting $44.74. 1,509,917 shares of the company’s stock traded hands, compared to its average volume of 705,483. The firm has a market capitalization of $4,390.00, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.10 and a beta of 1.15. Essent Group has a fifty-two week low of $33.45 and a fifty-two week high of $50.08.

Essent Group (NYSE:ESNT) last posted its quarterly earnings results on Friday, February 9th. The financial services provider reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The business had revenue of $161.77 million during the quarter, compared to the consensus estimate of $155.22 million. Essent Group had a net margin of 65.87% and a return on equity of 18.84%. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. analysts forecast that Essent Group will post 3.99 earnings per share for the current year.

In other news, Director Robert Glanville sold 3,000 shares of Essent Group stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $44.88, for a total transaction of $134,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew Turnbull sold 15,813 shares of Essent Group stock in a transaction on Monday, December 4th. The stock was sold at an average price of $45.62, for a total transaction of $721,389.06. Following the sale, the director now directly owns 45,409 shares of the company’s stock, valued at $2,071,558.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,013 shares of company stock valued at $1,546,045. Corporate insiders own 18.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. lifted its position in Essent Group by 5.1% in the second quarter. Ameritas Investment Partners Inc. now owns 6,781 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 330 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Essent Group by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 55,924 shares of the financial services provider’s stock valued at $2,077,000 after acquiring an additional 1,079 shares during the last quarter. Chartwell Investment Partners LLC lifted its position in Essent Group by 1.4% in the fourth quarter. Chartwell Investment Partners LLC now owns 95,081 shares of the financial services provider’s stock valued at $4,128,000 after acquiring an additional 1,289 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Essent Group by 23.2% in the third quarter. Teacher Retirement System of Texas now owns 6,904 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 1,299 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Essent Group by 1.5% in the third quarter. Rhumbline Advisers now owns 88,868 shares of the financial services provider’s stock valued at $3,599,000 after acquiring an additional 1,311 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Essent Group (NYSE:ESNT)

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