Essent Group (NYSE:ESNT) had its target price upped by equities researchers at BTIG Research from $49.00 to $54.00 in a report issued on Wednesday. The firm currently has a “buy” rating on the financial services provider’s stock. BTIG Research’s target price would indicate a potential upside of 19.68% from the stock’s previous close.
A number of other brokerages have also recently commented on ESNT. BidaskClub upgraded shares of Essent Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Friday, September 8th. Wells Fargo & Company initiated coverage on shares of Essent Group in a research report on Tuesday, November 28th. They issued an “outperform” rating and a $52.00 target price for the company. Deutsche Bank increased their target price on shares of Essent Group from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods upgraded shares of Essent Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $43.00 to $44.00 in a research report on Wednesday, August 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Essent Group presently has a consensus rating of “Buy” and an average price target of $46.89.
Essent Group (ESNT) opened at $45.12 on Wednesday. The firm has a market cap of $4,502.38, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 1.49 and a beta of 1.15. Essent Group has a 12-month low of $31.54 and a 12-month high of $47.29.
In related news, Director Andrew Turnbull sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the sale, the director now owns 24,596 shares of the company’s stock, valued at $1,131,416. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David B. Weinstock sold 3,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $41.71, for a total transaction of $125,130.00. Following the completion of the sale, the vice president now directly owns 25,785 shares of the company’s stock, valued at approximately $1,075,492.35. The disclosure for this sale can be found here. Insiders sold 53,858 shares of company stock valued at $2,414,044 over the last quarter. Company insiders own 18.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ESNT. Fortaleza Asset Management Inc. purchased a new position in Essent Group during the third quarter worth about $112,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Essent Group by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock worth $117,000 after buying an additional 288 shares during the period. Teacher Retirement System of Texas purchased a new position in Essent Group during the second quarter worth about $208,000. Nine Chapters Capital Management LLC purchased a new position in Essent Group during the third quarter worth about $219,000. Finally, GSA Capital Partners LLP purchased a new position in Essent Group during the second quarter worth about $243,000. 85.83% of the stock is owned by 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.
