Essent Group Ltd. (NYSE:ESNT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Essent Group Ltd. (NYSE:ESNT) have been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $64.71.

A number of research firms recently weighed in on ESNT. Barclays lowered their price target on shares of Essent Group from $72.00 to $69.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Keefe, Bruyette & Woods raised their target price on Essent Group from $73.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their target price on Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday. Royal Bank of Canada reduced their price target on Essent Group from $73.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, The Goldman Sachs Group dropped their price objective on Essent Group from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th.

Essent Group Price Performance

Shares of ESNT opened at $55.38 on Friday. Essent Group has a 12 month low of $50.37 and a 12 month high of $65.33. The stock’s 50-day moving average is $58.83 and its two-hundred day moving average is $59.52. The stock has a market cap of $5.88 billion, a PE ratio of 8.03, a P/E/G ratio of 2.62 and a beta of 1.09.

Essent Group (NYSE:ESNT) last released its quarterly earnings results on Friday, November 1st. The financial services provider reported $1.65 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.08). Essent Group had a return on equity of 13.81% and a net margin of 60.15%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $316.80 million. During the same period last year, the firm posted $1.66 earnings per share. The business’s revenue was up 969.2% on a year-over-year basis. On average, research analysts anticipate that Essent Group will post 6.95 earnings per share for the current year.

Essent Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, December 2nd were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.02%. The ex-dividend date was Monday, December 2nd. Essent Group’s dividend payout ratio is currently 16.23%.

Insiders Place Their Bets

In related news, CFO David B. Weinstock sold 2,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total transaction of $127,180.00. Following the sale, the chief financial officer now owns 25,416 shares in the company, valued at $1,616,203.44. This represents a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Essent Group

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in Essent Group by 10.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,680,074 shares of the financial services provider’s stock valued at $262,973,000 after purchasing an additional 445,853 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Essent Group by 132.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 424,542 shares of the financial services provider’s stock valued at $27,294,000 after buying an additional 241,840 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Essent Group by 68.8% during the second quarter. AQR Capital Management LLC now owns 436,009 shares of the financial services provider’s stock valued at $24,499,000 after acquiring an additional 177,700 shares during the period. Barclays PLC grew its position in shares of Essent Group by 154.7% during the third quarter. Barclays PLC now owns 208,927 shares of the financial services provider’s stock worth $13,431,000 after acquiring an additional 126,899 shares during the last quarter. Finally, Walleye Capital LLC increased its holdings in shares of Essent Group by 45.5% in the 3rd quarter. Walleye Capital LLC now owns 345,675 shares of the financial services provider’s stock worth $22,223,000 after acquiring an additional 108,061 shares during the period. 93.00% of the stock is owned by institutional investors.

Essent Group Company Profile

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.