Essent Group Ltd (ESNT) SVP Sells $1,776,423.24 in Stock

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Essent Group Ltd (NYSE:ESNT) SVP Vijay Bhasin sold 41,007 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $43.32, for a total value of $1,776,423.24. Following the sale, the senior vice president now owns 239,617 shares in the company, valued at approximately $10,380,208.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

ESNT traded up $0.15 during midday trading on Thursday, hitting $43.81. 268,935 shares of the company were exchanged, compared to its average volume of 505,230. The company has a market capitalization of $4.29 billion, a PE ratio of 9.03, a PEG ratio of 0.83 and a beta of 1.50. Essent Group Ltd has a 1-year low of $31.08 and a 1-year high of $45.60.

Essent Group (NYSE:ESNT) last announced its earnings results on Friday, February 8th. The financial services provider reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.16. The firm had revenue of $193.10 million for the quarter, compared to the consensus estimate of $189.76 million. Essent Group had a return on equity of 21.90% and a net margin of 64.97%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 EPS. Equities research analysts forecast that Essent Group Ltd will post 5.22 EPS for the current fiscal year.

A number of brokerages recently weighed in on ESNT. Zacks Investment Research lowered Essent Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. ValuEngine upgraded Essent Group from a “sell” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Barclays set a $52.00 price objective on Essent Group and gave the stock a “buy” rating in a research report on Friday, December 14th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $49.00.

A number of institutional investors and hedge funds have recently made changes to their positions in ESNT. Bank of New York Mellon Corp lifted its holdings in Essent Group by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 448,412 shares of the financial services provider’s stock worth $16,062,000 after buying an additional 9,432 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Essent Group by 15.9% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 41,667 shares of the financial services provider’s stock worth $1,844,000 after buying an additional 5,710 shares during the period. Comerica Bank acquired a new position in Essent Group during the 3rd quarter worth about $1,417,000. American Century Companies Inc. lifted its holdings in Essent Group by 41.2% during the 3rd quarter. American Century Companies Inc. now owns 474,284 shares of the financial services provider’s stock worth $20,987,000 after buying an additional 138,379 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Essent Group during the 3rd quarter worth about $397,000. 91.57% of the stock is currently owned by hedge funds and other institutional investors.

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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. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.

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