Essent Group Ltd. (ESNT) Upgraded at Zacks Investment Research

Essent Group Ltd. (NYSE:ESNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm presently has a $45.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 14.04% from the stock’s previous close.

According to Zacks, “Essent Group Ltd., through its subsidiaries, operates as a private mortgage insurance company. It serves originators of residential mortgage loans, such as regulated depository institutions, mortgage banks, credit unions, and other lenders. Essent Group Ltd. is based in Hamilton, Bermuda. “

ESNT has been the topic of several other reports. BidaskClub lowered shares of Essent Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Keefe, Bruyette & Woods set a $43.00 price objective on shares of Essent Group and gave the stock a “hold” rating in a report on Monday, August 7th. Barclays PLC upped their price objective on shares of Essent Group from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Deutsche Bank AG upped their price objective on shares of Essent Group from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Finally, BTIG Research upgraded shares of Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Tuesday, September 12th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $44.00.

Shares of Essent Group (NYSE ESNT) traded down 1.62% during mid-day trading on Monday, reaching $39.46. 416,189 shares of the company’s stock traded hands. The stock has a market capitalization of $3.69 billion, a PE ratio of 14.04 and a beta of 1.14. Essent Group has a 12-month low of $25.84 and a 12-month high of $41.44. The company’s 50-day moving average price is $38.91 and its 200-day moving average price is $37.64.

Essent Group (NYSE:ESNT) last posted its earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.09. The company had revenue of $137.61 million for the quarter, compared to analyst estimates of $131.99 million. Essent Group had a net margin of 50.92% and a return on equity of 18.77%. Essent Group’s revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. Analysts anticipate that Essent Group will post $3.06 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Essent Group Ltd. (ESNT) Upgraded at Zacks Investment Research” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/09/essent-group-ltd-esnt-upgraded-at-zacks-investment-research.html.

In other Essent Group news, SVP Mary Lourdes Gibbons sold 4,207 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $39.00, for a total value of $164,073.00. Following the sale, the senior vice president now directly owns 275,495 shares of the company’s stock, valued at approximately $10,744,305. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Lawrence E. Mcalee, Jr. sold 3,118 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $40.00, for a total transaction of $124,720.00. Following the completion of the sale, the chief financial officer now directly owns 272,167 shares in the company, valued at $10,886,680. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,918 shares of company stock worth $909,690. Company insiders own 18.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Koch Industries Inc. purchased a new position in shares of Essent Group in the 2nd quarter valued at $395,000. Piedmont Investment Advisors LLC acquired a new stake in Essent Group during the 2nd quarter worth $906,000. Sterling Capital Management LLC boosted its stake in Essent Group by 8.6% during the 2nd quarter. Sterling Capital Management LLC now owns 27,191 shares of the financial services provider’s stock worth $1,010,000 after purchasing an additional 2,147 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Essent Group by 5.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,781 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 330 shares during the period. Finally, Albion Financial Group UT boosted its stake in Essent Group by 0.9% during the 2nd quarter. Albion Financial Group UT now owns 15,704 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 145 shares during the period. 81.40% of the stock is currently owned by hedge funds and other institutional investors.

Essent Group Company Profile

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.

NYSE ESNT) traded down 1.62% during mid-day trading on Monday, reaching $39.46. 416,189 shares of the company’s stock traded hands. The stock has a market capitalization of $3.69 billion, a PE ratio of 14.04 and a beta of 1.14. Essent Group has a 12-month low of $25.84 and a 12-month high of $41.44. The company’s 50-day moving average price is $38.91 and its 200-day moving average price is $37.64.

Essent Group (NYSE:ESNT) last posted its earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.09. The company had revenue of $137.61 million for the quarter, compared to analyst estimates of $131.99 million. Essent Group had a net margin of 50.92% and a return on equity of 18.77%. Essent Group’s revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. Analysts anticipate that Essent Group will post $3.06 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Essent Group Ltd. (ESNT) Upgraded at Zacks Investment Research” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/09/essent-group-ltd-esnt-upgraded-at-zacks-investment-research.html.

In other Essent Group news, SVP Mary Lourdes Gibbons sold 4,207 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $39.00, for a total value of $164,073.00. Following the sale, the senior vice president now directly owns 275,495 shares of the company’s stock, valued at approximately $10,744,305. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Lawrence E. Mcalee, Jr. sold 3,118 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $40.00, for a total transaction of $124,720.00. Following the completion of the sale, the chief financial officer now directly owns 272,167 shares in the company, valued at $10,886,680. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,918 shares of company stock worth $909,690. Company insiders own 18.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Koch Industries Inc. purchased a new position in shares of Essent Group in the 2nd quarter valued at $395,000. Piedmont Investment Advisors LLC acquired a new stake in Essent Group during the 2nd quarter worth $906,000. Sterling Capital Management LLC boosted its stake in Essent Group by 8.6% during the 2nd quarter. Sterling Capital Management LLC now owns 27,191 shares of the financial services provider’s stock worth $1,010,000 after purchasing an additional 2,147 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Essent Group by 5.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,781 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 330 shares during the period. Finally, Albion Financial Group UT boosted its stake in Essent Group by 0.9% during the 2nd quarter. Albion Financial Group UT now owns 15,704 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 145 shares during the period. 81.40% of the stock is currently owned by hedge funds and other institutional investors.

Essent Group Company Profile

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.

Analyst Recommendations for Essent Group (NYSE:ESNT)

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