Shares of Essent Group Ltd. (NYSE:ESNT – Get Free Report) have received a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $63.29.
Several equities research analysts have commented on ESNT shares. JPMorgan Chase & Co. upgraded Essent Group from a “neutral” rating to an “overweight” rating and set a $60.00 price objective on the stock in a research report on Tuesday, April 8th. BTIG Research reaffirmed a “buy” rating on shares of Essent Group in a report on Friday, May 9th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Essent Group in a research report on Friday, May 9th. Compass Point set a $69.00 price target on shares of Essent Group and gave the stock a “buy” rating in a research report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Essent Group in a report on Friday, May 9th.
Get Our Latest Analysis on ESNT
Essent Group Trading Up 0.4%
Essent Group (NYSE:ESNT – Get Free Report) last released its earnings results on Friday, May 9th. The financial services provider reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The company had revenue of $317.56 million during the quarter, compared to analysts’ expectations of $311.18 million. Essent Group had a net margin of 57.29% and a return on equity of 12.98%. Essent Group’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the business earned $1.70 EPS. As a group, research analysts forecast that Essent Group will post 6.88 EPS for the current year.
Essent Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 30th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.05%. Essent Group’s dividend payout ratio (DPR) is presently 18.16%.
Insider Buying and Selling at Essent Group
In other news, Director Douglas J. Pauls sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $59.80, for a total transaction of $179,400.00. Following the transaction, the director now directly owns 27,165 shares of the company’s stock, valued at $1,624,467. This represents a 9.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David B. Weinstock sold 2,500 shares of the firm’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $58.79, for a total transaction of $146,975.00. Following the completion of the sale, the chief financial officer now owns 27,365 shares of the company’s stock, valued at $1,608,788.35. This trade represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,500 shares of company stock valued at $566,506 in the last ninety days. Insiders own 2.90% of the company’s stock.
Institutional Investors Weigh In On Essent Group
A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in Essent Group in the fourth quarter valued at $69,364,000. Victory Capital Management Inc. boosted its position in shares of Essent Group by 1,272.6% in the 1st quarter. Victory Capital Management Inc. now owns 970,969 shares of the financial services provider’s stock worth $56,044,000 after buying an additional 900,229 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Essent Group in the 1st quarter worth about $41,084,000. Cooke & Bieler LP grew its stake in Essent Group by 45.9% in the 4th quarter. Cooke & Bieler LP now owns 2,228,925 shares of the financial services provider’s stock valued at $121,343,000 after acquiring an additional 700,730 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Essent Group during the 1st quarter worth approximately $34,060,000. Institutional investors and hedge funds own 93.00% of the company’s stock.
Essent Group Company Profile
Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its mortgage insurance products include primary, pool, and master policy. The company also provides information technology maintenance and development services; customer support-related services; underwriting consulting; and contract underwriting services, as well as risk management products and title insurance and settlement services.
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