Research analysts at Macquarie assumed coverage on shares of Essent Group (NYSE:ESNT) in a report issued on Wednesday, March 14th, MarketBeat Ratings reports. The firm set an “outperform” rating and a $62.00 price target on the financial services provider’s stock. Macquarie’s price objective indicates a potential upside of 47.23% from the stock’s current price.
A number of other research analysts have also recently weighed in on ESNT. Wells Fargo reaffirmed a “buy” rating on shares of Essent Group in a research report on Tuesday, March 13th. Royal Bank of Canada lifted their price objective on Essent Group to $59.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Zelman & Associates raised Essent Group from a “hold” rating to a “buy” rating in a research report on Monday, February 12th. Compass Point lifted their price objective on Essent Group from $57.50 to $60.75 and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, Susquehanna Bancshares set a $62.00 price target on Essent Group and gave the stock 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. Essent Group presently has a consensus rating of “Buy” and a consensus price target of $53.31.
Essent Group (NYSE:ESNT) traded up $1.20 on Wednesday, hitting $42.11. The stock had a trading volume of 920,863 shares, compared to its average volume of 789,052. The stock has a market cap of $4,039.53, a price-to-earnings ratio of 10.64, a PEG ratio of 0.85 and a beta of 1.14. Essent Group has a 12-month low of $33.45 and a 12-month high of $50.08.
Essent Group (NYSE:ESNT) last released its quarterly earnings data on Friday, February 9th. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. The company had revenue of $161.77 million during the quarter, compared to the consensus estimate of $155.22 million. Essent Group had a return on equity of 17.77% and a net margin of 65.87%. Essent Group’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. sell-side analysts anticipate 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 company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $44.50, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 18.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ESNT. Telemus Capital LLC purchased a new stake in Essent Group in the fourth quarter valued at about $204,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Essent Group by 50.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,735 shares of the financial services provider’s stock valued at $206,000 after buying an additional 1,590 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in Essent Group in the fourth quarter valued at about $208,000. Jefferies Group LLC purchased a new stake in Essent Group in the fourth quarter valued at about $209,000. Finally, Waratah Capital Advisors Ltd. purchased a new stake in Essent Group in the fourth quarter valued at about $267,000. Hedge funds and other institutional investors own 89.01% of the company’s stock.
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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.
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