Essent Group Ltd. (ESNT) Stock Rating Upgraded by Zacks Investment Research

Essent Group Ltd. (NYSE:ESNT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “Essent Group Ltd., through its subsidiaries, operates as a private mortgage insurance company. It serves originators of residential mortgage loans, such as regulated depository institutions, mortgage banks, credit unions, and other lenders. Essent Group Ltd. is based in Hamilton, Bermuda. “

A number of other equities research analysts have also issued reports on ESNT. BidaskClub lowered shares of Essent Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Keefe, Bruyette & Woods set a $43.00 price objective on shares of Essent Group and gave the company a “hold” rating in a report on Monday, August 7th. Barclays PLC increased their price objective on shares of Essent Group from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 7th. Deutsche Bank AG increased their price objective on shares of Essent Group from $42.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Finally, BTIG Research raised shares of Essent Group from a “neutral” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, September 12th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $45.00.

Shares of Essent Group (NYSE:ESNT) opened at $42.32 on Monday. The stock has a market cap of $4,170.00, a P/E ratio of 14.36, a P/E/G ratio of 1.41 and a beta of 1.15. Essent Group has a fifty-two week low of $25.84 and a fifty-two week high of $45.10.

Essent Group (NYSE:ESNT) last released its earnings results on Thursday, November 9th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.07. The company had revenue of $150.20 million during the quarter, compared to analyst estimates of $143.79 million. Essent Group had a net margin of 51.64% and a return on equity of 18.55%. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. analysts anticipate that Essent Group will post 3.05 EPS for the current year.

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In other news, CFO Lawrence E. Mcalee, Jr. sold 7,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $45.01, for a total transaction of $315,070.00. Following the completion of the transaction, the chief financial officer now directly owns 265,167 shares in the company, valued at approximately $11,935,166.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mary Lourdes Gibbons sold 5,209 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $45.02, for a total value of $234,509.18. Following the transaction, the senior vice president now owns 252,857 shares of the company’s stock, valued at $11,383,622.14. The disclosure for this sale can be found here. Insiders have sold a total of 22,045 shares of company stock valued at $955,835 over the last quarter. Corporate insiders own 18.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Albion Financial Group UT boosted its position in shares of Essent Group by 0.9% during the 2nd quarter. Albion Financial Group UT now owns 15,704 shares of the financial services provider’s stock valued at $583,000 after acquiring an additional 145 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Essent Group by 0.9% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,746 shares of the financial services provider’s stock valued at $845,000 after acquiring an additional 200 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its position in shares of Essent Group by 0.4% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 57,668 shares of the financial services provider’s stock valued at $2,142,000 after acquiring an additional 246 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 buying an additional 288 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in Essent Group by 5.1% in the second quarter. Ameritas Investment Partners Inc. now owns 6,781 shares of the financial services provider’s stock worth $252,000 after buying an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

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.

Analyst Recommendations for Essent Group (NYSE:ESNT)

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