Essent Group Ltd. (NYSE:ESNT) Receives Consensus Recommendation of “Hold” from Brokerages

Essent Group Ltd. (NYSE:ESNTGet Free Report) has earned an average recommendation of “Hold” from the seven ratings firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $59.25.

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada decreased their price target on Essent Group from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. UBS Group upped their price objective on shares of Essent Group from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. cut shares of Essent Group from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $58.00 to $61.00 in a research report on Wednesday, April 3rd. StockNews.com cut shares of Essent Group from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Essent Group from $62.00 to $64.00 and gave the stock a “market perform” rating in a research report on Thursday, April 4th.

Get Our Latest Report on Essent Group

Insider Buying and Selling at Essent Group

In other Essent Group news, Director Douglas J. Pauls sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $56.12, for a total transaction of $140,300.00. Following the transaction, the director now directly owns 27,112 shares in the company, valued at $1,521,525.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Essent Group

A number of institutional investors have recently made changes to their positions in the stock. Walleye Trading LLC boosted its stake in shares of Essent Group by 10.7% during the first quarter. Walleye Trading LLC now owns 5,784 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 558 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Essent Group by 38.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 177,127 shares of the financial services provider’s stock valued at $10,542,000 after purchasing an additional 49,393 shares during the period. Keeley Teton Advisors LLC boosted its stake in shares of Essent Group by 12.7% during the first quarter. Keeley Teton Advisors LLC now owns 33,463 shares of the financial services provider’s stock valued at $1,991,000 after purchasing an additional 3,782 shares during the period. Advisors Asset Management Inc. purchased a new stake in shares of Essent Group during the first quarter valued at approximately $32,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Essent Group during the first quarter valued at approximately $8,742,000. Hedge funds and other institutional investors own 93.00% of the company’s stock.

Essent Group Stock Performance

Shares of NYSE:ESNT opened at $55.96 on Friday. The company’s 50-day moving average is $55.30 and its 200 day moving average is $54.39. The company has a market capitalization of $5.97 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09. Essent Group has a fifty-two week low of $44.21 and a fifty-two week high of $59.90.

Essent Group (NYSE:ESNTGet Free Report) last announced its quarterly earnings results on Friday, May 3rd. The financial services provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.14. Essent Group had a return on equity of 14.24% and a net margin of 61.40%. The firm had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $298.69 million. During the same period in the prior year, the business posted $1.59 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. As a group, research analysts predict that Essent Group will post 6.73 earnings per share for the current year.

Essent Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 31st were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Friday, May 31st. Essent Group’s payout ratio is currently 16.94%.

About Essent Group

(Get Free Report

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its mortgage insurance products include primary, pool, and master policy. The company also provides information technology maintenance and development services; customer support-related services; underwriting consulting; and contract underwriting services, as well as risk management products and title insurance and settlement services.

Further Reading

Analyst Recommendations for Essent Group (NYSE:ESNT)

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