BTIG Research Increases Essent Group (ESNT) Price Target to $54.00
Essent Group (NYSE:ESNT) had its target price raised by analysts at BTIG Research from $49.00 to $54.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the financial services provider’s stock. BTIG Research’s price objective suggests a potential upside of 19.68% from the company’s previous close.
Other research analysts also recently issued research reports about the company. BidaskClub upgraded Essent Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Friday, September 8th. Wells Fargo & Company began coverage on Essent Group in a research report on Tuesday, November 28th. They set an “outperform” rating and a $52.00 price target for the company. Deutsche Bank lifted their price target on 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 Essent Group from a “market perform” rating to an “outperform” rating and lifted their price target 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. The company has a consensus rating of “Buy” and a consensus target price of $46.89.
Shares of Essent Group (ESNT) opened at $45.12 on Wednesday. Essent Group has a twelve month low of $31.54 and a twelve month high of $47.29. The firm has a market capitalization of $4,502.38, a PE ratio of 15.30, a P/E/G ratio of 1.49 and a beta of 1.15.
In related news, Director Andrew Turnbull sold 5,000 shares of Essent Group stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the sale, the director now directly owns 24,596 shares in the company, valued at $1,131,416. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mary Lourdes Gibbons sold 4,836 shares of Essent Group stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $42.04, for a total value of $203,305.44. Following the sale, the senior vice president now owns 258,066 shares in the company, valued at $10,849,094.64. The disclosure for this sale can be found here. Insiders sold a total of 53,858 shares of company stock worth $2,414,044 over the last ninety days. Insiders own 18.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESNT. Fortaleza Asset Management Inc. bought a new stake in Essent Group in the third quarter worth $112,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Essent Group by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 288 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Essent Group in the second quarter worth $208,000. Nine Chapters Capital Management LLC bought a new stake in Essent Group in the third quarter worth $219,000. Finally, GSA Capital Partners LLP bought a new stake in Essent Group in the second quarter worth $243,000. Institutional investors own 85.83% 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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