Essent Group (ESNT) Issues Earnings Results, Beats Estimates By $0.06 EPS

Essent Group (NYSE:ESNT) released its quarterly earnings data on Friday. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.06, MarketWatch Earnings reports. Essent Group had a net margin of 71.08% and a return on equity of 19.37%. The business had revenue of $185.00 million during the quarter, compared to analysts’ expectations of $181.40 million. During the same period in the prior year, the company earned $0.82 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year.

ESNT opened at $39.84 on Friday. Essent Group has a fifty-two week low of $32.73 and a fifty-two week high of $50.08. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 0.90 and a beta of 1.30.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Essent Group from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Wednesday, July 25th. MKM Partners reduced their target price on shares of Essent Group to $40.00 and set a “neutral” rating on the stock in a report on Monday, August 6th. ValuEngine raised shares of Essent Group from a “sell” rating to a “hold” rating in a report on Monday, August 20th. Susquehanna Bancshares boosted their target price on shares of Essent Group from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Essent Group from $42.50 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $50.25.

In other news, SVP Vijay Bhasin sold 27,869 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $44.64, for a total value of $1,244,072.16. Following the sale, the senior vice president now directly owns 278,515 shares of the company’s stock, valued at approximately $12,432,909.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jeff Cashmer sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $40.06, for a total transaction of $1,001,500.00. Following the completion of the sale, the senior vice president now directly owns 143,395 shares in the company, valued at $5,744,403.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,468 shares of company stock worth $3,941,196. Insiders own 3.00% of the company’s stock.

Large investors have recently bought and sold shares of the company. Rehmann Capital Advisory Group bought a new stake in shares of Essent Group in the 2nd quarter valued at $202,000. Telemus Capital LLC bought a new position in Essent Group during the third quarter worth $208,000. Regal Investment Advisors LLC bought a new position in Essent Group during the third quarter worth $244,000. Signition LP bought a new position in Essent Group during the third quarter worth $268,000. Finally, GHP Investment Advisors Inc. bought a new position in Essent Group during the third quarter worth $277,000. 89.38% of the stock is currently owned by institutional investors.

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About Essent Group

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.

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Earnings History for Essent Group (NYSE:ESNT)

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