Analysts at Macquarie initiated coverage on shares of Essent Group (NYSE:ESNT) in a report issued on Wednesday, The Fly reports. The firm set an “outperform” rating on the financial services provider’s stock.
ESNT has been the subject of a number of other research reports. Wells Fargo & Co reiterated a “buy” rating on shares of Essent Group in a report on Tuesday. Zelman & Associates upgraded shares of Essent Group from a “hold” rating to a “buy” rating in a report on Monday, February 12th. Royal Bank of Canada increased their price objective on shares of Essent Group to $59.00 and gave the company an “outperform” rating in a report on Monday, February 12th. Compass Point increased their price objective on shares of Essent Group from $57.50 to $60.75 and gave the company a “buy” rating in a report on Monday, February 12th. Finally, Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Monday, December 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $52.52.
Essent Group (ESNT) traded down $1.47 during mid-day trading on Wednesday, reaching $40.92. 3,360,079 shares of the company’s stock were exchanged, compared to its average volume of 736,808. The firm has a market cap of $4,217.08, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 0.89 and a beta of 1.14. Essent Group has a 12 month low of $33.45 and a 12 month high of $50.08.
In other news, CEO Mark Casale sold 370,673 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $44.50, for a total value of $16,494,948.50. Following the completion of the sale, the chief executive officer now owns 1,845,356 shares of the company’s stock, valued at approximately $82,118,342. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 18.10% of the company’s stock.
Large investors have recently bought and sold shares of the stock. 361 Capital LLC purchased a new position in shares of Essent Group during the 3rd quarter worth approximately $2,118,000. Cipher Capital LP lifted its holdings in Essent Group by 44.5% during the 3rd quarter. Cipher Capital LP now owns 82,458 shares of the financial services provider’s stock worth $3,340,000 after buying an additional 25,374 shares in the last quarter. American International Group Inc. lifted its holdings in Essent Group by 12.5% during the 3rd quarter. American International Group Inc. now owns 53,890 shares of the financial services provider’s stock worth $2,183,000 after buying an additional 5,967 shares in the last quarter. Insight Capital Research & Management Inc. acquired a new stake in Essent Group during the 3rd quarter worth approximately $957,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Essent Group by 16.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 857,284 shares of the financial services provider’s stock worth $34,721,000 after buying an additional 121,944 shares in the last quarter. 89.07% of the stock is 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.
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