Essent Group (ESNT) Rating Lowered to Hold at ValuEngine

ValuEngine cut shares of Essent Group (NYSE:ESNT) from a buy rating to a hold rating in a research note published on Monday morning.

Several other research firms also recently weighed in on ESNT. Deutsche Bank raised Essent Group from a hold rating to a buy rating and lifted their target price for the company from $49.00 to $61.00 in a research report on Monday, January 8th. Susquehanna Bancshares set a $62.00 target price on Essent Group and gave the company a buy rating in a research report on Friday, February 9th. BTIG Research lifted their target price on Essent Group from $49.00 to $54.00 and gave the company a buy rating in a research report on Wednesday, December 20th. Royal Bank of Canada initiated coverage on Essent Group in a research report on Wednesday, December 20th. They issued an outperform rating and a $54.00 target price for the company. Finally, Macquarie initiated coverage on Essent Group in a research report on Wednesday, March 14th. They set an outperform rating and a $62.00 price objective for the company. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Essent Group has a consensus rating of Buy and an average target price of $51.56.

Shares of NYSE:ESNT opened at $36.30 on Monday. The stock has a market cap of $3,527.48, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 0.75 and a beta of 1.17. Essent Group has a 12-month low of $34.07 and a 12-month high of $50.08.



Essent Group (NYSE:ESNT) last released its earnings results on Friday, February 9th. The financial services provider reported $0.79 earnings per share for the quarter, beating 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 was up 28.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. analysts predict that Essent Group will post 4.38 earnings per share for the current fiscal year.

In other news, CEO Mark Casale sold 370,673 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.50, for a total transaction of $16,494,948.50. Following the completion of the transaction, the chief executive officer now directly owns 1,845,356 shares of the company’s stock, valued at $82,118,342. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in Essent Group by 24.7% during the fourth quarter. BlackRock Inc. now owns 7,903,032 shares of the financial services provider’s stock worth $343,152,000 after purchasing an additional 1,562,879 shares during the last quarter. APG Asset Management N.V. lifted its stake in Essent Group by 242.5% during the fourth quarter. APG Asset Management N.V. now owns 1,144,800 shares of the financial services provider’s stock worth $41,395,000 after purchasing an additional 810,600 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Essent Group by 69.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,068,425 shares of the financial services provider’s stock worth $46,390,000 after purchasing an additional 437,425 shares during the last quarter. Bain Capital Public Equity Management LLC purchased a new stake in Essent Group during the fourth quarter worth approximately $18,635,000. Finally, Wells Fargo & Company MN lifted its stake in Essent Group by 58.5% during the third quarter. Wells Fargo & Company MN now owns 1,052,044 shares of the financial services provider’s stock worth $42,607,000 after purchasing an additional 388,455 shares during the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

WARNING: This article was first reported by Dakota Financial News and is the property of of Dakota Financial News. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://dakotafinancialnews.com/2018/04/12/essent-group-esnt-rating-lowered-to-hold-at-valuengine.html.

About Essent Group

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Essent Group (NYSE:ESNT)

Receive News & Ratings for Essent Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essent Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply