Essent Group (ESNT) Rating Increased to Buy at Deutsche Bank

Deutsche Bank upgraded shares of Essent Group (NYSE:ESNT) from a hold rating to a buy rating in a research note released on Monday, MarketBeat.com reports. Deutsche Bank currently has $61.00 price target on the financial services provider’s stock, up from their previous price target of $49.00.

Several other brokerages have also issued reports on ESNT. Zacks Investment Research lowered shares of Essent Group from a buy rating to a hold rating in a research report on Tuesday, October 10th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $44.00 target price on shares of Essent Group in a research report on Thursday, October 12th. BidaskClub lowered shares of Essent Group from a buy rating to a hold rating in a research report on Wednesday, November 1st. BTIG Research upgraded shares of Essent Group from a neutral rating to a buy rating and set a $44.00 target price on the stock in a research report on Tuesday, September 12th. Finally, Compass Point reiterated a buy rating and issued a $50.00 target price (up previously from $38.00) on shares of Essent Group in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Essent Group currently has a consensus rating of Buy and a consensus target price of $49.40.

Shares of Essent Group (ESNT) opened at $47.84 on Monday. Essent Group has a 52-week low of $31.63 and a 52-week high of $47.96. The stock has a market cap of $4,710.00, a PE ratio of 16.05, a PEG ratio of 1.20 and a beta of 1.15.

Essent Group (NYSE:ESNT) last announced its earnings results on Thursday, November 9th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.07. Essent Group had a net margin of 51.64% and a return on equity of 18.55%. The business had revenue of $150.20 million for the quarter, compared to analyst estimates of $143.79 million. During the same quarter last year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. research analysts expect that Essent Group will post 3.08 earnings per share for the current fiscal year.

In related news, Director Andrew Turnbull sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $46.00, for a total transaction of $230,000.00. Following the transaction, the director now directly owns 24,596 shares in the company, valued at $1,131,416. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David B. Weinstock sold 3,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $41.71, for a total transaction of $125,130.00. Following the transaction, the vice president now owns 25,785 shares in the company, valued at $1,075,492.35. The disclosure for this sale can be found here. Insiders have sold 53,858 shares of company stock worth $2,414,044 over the last 90 days. 18.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of ESNT. Fortaleza Asset Management Inc. purchased a new position in Essent Group during the third quarter worth about $112,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Essent Group by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 288 shares during the period. Nine Chapters Capital Management LLC purchased a new position in Essent Group during the third quarter worth about $219,000. GSA Capital Partners LLP purchased a new position in Essent Group during the second quarter worth about $243,000. Finally, Ameritas Investment Partners Inc. raised its stake in Essent Group by 5.1% during the second quarter. Ameritas Investment Partners Inc. now owns 6,781 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 330 shares during the period. 85.83% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Essent Group (NYSE:ESNT)

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