Equities researchers at Macquarie started coverage on shares of Essent Group (NYSE:ESNT) in a research report issued on Wednesday, The Fly reports. The firm set an “outperform” rating on the financial services provider’s stock.
A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Co reiterated a “buy” rating on shares of Essent Group in a report on Tuesday. Royal Bank of Canada lifted 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. Zelman & Associates upgraded shares of Essent Group from a “hold” rating to a “buy” rating in a report on Monday, February 12th. Compass Point lifted 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, Susquehanna Bancshares set a $62.00 price objective on shares of Essent Group and gave the company a “buy” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Essent Group presently has an average rating of “Buy” and a consensus target price of $52.52.
Shares of Essent Group (NYSE ESNT) traded down $1.47 on Wednesday, reaching $40.92. 3,359,128 shares of the company were exchanged, compared to its average volume of 724,578. Essent Group has a one year low of $33.45 and a one year high of $50.08. The company has a market cap of $4,217.08, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 0.89 and a beta of 1.14.
Essent Group (NYSE:ESNT) last announced its quarterly earnings data on Friday, February 9th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Essent Group had a net margin of 65.87% and a return on equity of 17.77%. The company had revenue of $161.77 million during the quarter, compared to analyst estimates of $155.22 million. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. analysts expect that Essent Group will post 4.42 EPS for the current fiscal year.
In other Essent Group news, CEO Mark Casale sold 370,673 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $44.50, for a total transaction of $16,494,948.50. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Telemus Capital LLC purchased a new position in shares of Essent Group in the 4th quarter worth approximately $204,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Essent Group by 50.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,735 shares of the financial services provider’s stock worth $206,000 after buying an additional 1,590 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Essent Group in the 4th quarter worth approximately $208,000. Jefferies Group LLC purchased a new position in shares of Essent Group in the 4th quarter worth approximately $209,000. Finally, Waratah Capital Advisors Ltd. purchased a new position in shares of Essent Group in the 4th quarter worth approximately $267,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.
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.
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