Essent Group Ltd. (ESNT) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Essent Group Ltd. (NYSE:ESNT) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on ESNT. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $40.00 price target on shares of Essent Group in a research report on Tuesday, May 30th. ValuEngine raised Essent Group from a buy rating to a strong-buy rating in a research report on Friday, June 9th. Zacks Investment Research raised Essent Group from a hold rating to a buy rating and set a $44.00 price target on the stock in a research report on Monday, July 10th. Barclays PLC increased their price target on Essent Group from $43.00 to $45.00 and gave the stock an overweight rating in a research report on Monday, August 7th. Finally, Deutsche Bank AG increased their price target on Essent Group from $42.00 to $48.00 and gave the stock a buy rating in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $43.43.

Essent Group (NYSE:ESNT) traded up 0.83% during trading on Friday, reaching $39.08. The company had a trading volume of 1,226,462 shares. Essent Group has a 52 week low of $25.84 and a 52 week high of $41.44. The stock has a 50 day moving average price of $38.45 and a 200 day moving average price of $37.16. The firm has a market capitalization of $3.65 billion, a P/E ratio of 13.91 and a beta of 1.14.

Essent Group (NYSE:ESNT) last announced its quarterly earnings results on Friday, August 4th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.09. The company had revenue of $137.61 million for the quarter, compared to the consensus estimate of $131.99 million. Essent Group had a return on equity of 18.77% and a net margin of 50.92%. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. Analysts predict that Essent Group will post $3.06 earnings per share 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 dated Friday, June 30th. The shares were sold at an average price of $36.99, for a total transaction of $258,930.00. Following the sale, the chief financial officer now directly owns 279,285 shares of the company’s stock, valued at approximately $10,330,752.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP David B. Weinstock sold 2,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $38.95, for a total transaction of $77,900.00. Following the sale, the vice president now directly owns 30,785 shares in the company, valued at $1,199,075.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,918 shares of company stock worth $1,244,860. Corporate insiders own 18.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Sei Investments Co. boosted its stake in shares of Essent Group by 2.6% during the 1st quarter. Sei Investments Co. now owns 2,909 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 74 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Essent Group by 14.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,924 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 360 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Essent Group by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 288 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Essent Group during the 1st quarter worth about $120,000. Finally, Quantbot Technologies LP boosted its stake in shares of Essent Group by 186.3% during the 1st quarter. Quantbot Technologies LP now owns 4,203 shares of the financial services provider’s stock worth $152,000 after acquiring an additional 2,735 shares in the last quarter. 81.44% of the stock is currently owned by institutional investors and hedge funds.

Essent Group Company Profile

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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