Essent Group (NYSE:ESNT) had its price objective upped by stock analysts at Royal Bank of Canada to $59.00 in a report released on Monday. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 31.87% from the stock’s current price.
Several other research firms also recently issued reports on ESNT. BidaskClub raised shares of Essent Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. Deutsche Bank upped their price target on shares of Essent Group from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Barclays upped their price target on shares of Essent Group from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Zacks Investment Research raised shares of Essent Group from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Finally, Wells Fargo & Co initiated coverage on shares of Essent Group in a report on Tuesday, November 28th. They issued an “outperform” rating and a $52.00 price target on the stock. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $52.52.
Shares of Essent Group (NYSE ESNT) traded up $0.82 during midday trading on Monday, hitting $44.74. The stock had a trading volume of 1,509,917 shares, compared to its average volume of 705,483. Essent Group has a 12-month low of $33.45 and a 12-month high of $50.08. The stock has a market cap of $4,390.00, a P/E ratio of 15.01, a PEG ratio of 1.10 and a beta of 1.15.
In other news, Director Andrew Turnbull sold 10,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the sale, the director now directly owns 45,409 shares in the company, valued at $2,043,405. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Glanville sold 3,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $44.88, for a total transaction of $134,640.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,013 shares of company stock valued at $1,546,045. Company insiders own 18.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of ESNT. Acrospire Investment Management LLC lifted its holdings in Essent Group by 200.0% in the second quarter. Acrospire Investment Management LLC now owns 4,800 shares of the financial services provider’s stock worth $105,000 after buying an additional 3,200 shares during the period. Sei Investments Co. lifted its holdings in Essent Group by 2.6% in the first quarter. Sei Investments Co. now owns 2,909 shares of the financial services provider’s stock worth $105,000 after buying an additional 74 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Essent Group by 14.0% in the first quarter. BNP Paribas Arbitrage SA now owns 2,924 shares of the financial services provider’s stock worth $106,000 after buying an additional 360 shares during the period. Fortaleza Asset Management Inc. purchased a new stake in Essent Group in the third quarter worth about $112,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Essent Group in the fourth quarter worth about $114,000. Institutional investors own 86.19% of the company’s stock.
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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.
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