Essent Group (NYSE:ESNT) Price Target Cut to $67.00 by Analysts at JPMorgan Chase & Co.

Essent Group (NYSE:ESNT) had its target price reduced by analysts at JPMorgan Chase & Co. from $68.00 to $67.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 22.51% from the stock’s previous close.

ESNT has been the subject of several other research reports. BTIG Research raised their price target on shares of Essent Group from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Royal Bank of Canada increased their price target on Essent Group from $61.00 to $67.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods upgraded shares of Essent Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $65.00 to $70.00 in a research note on Monday, August 5th. Finally, Barclays reduced their price objective on shares of Essent Group from $72.00 to $69.00 and set an “overweight” rating on the stock in a report on Monday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Essent Group presently has a consensus rating of “Moderate Buy” and an average price target of $65.83.

Essent Group Trading Up 1.7 %

Essent Group stock traded up $0.92 during trading on Monday, hitting $54.69. The company had a trading volume of 80,291 shares, compared to its average volume of 500,242. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 7.88, a price-to-earnings-growth ratio of 1.48 and a beta of 1.12. Essent Group has a 1-year low of $47.56 and a 1-year high of $65.33. The company’s 50 day simple moving average is $62.94 and its 200-day simple moving average is $59.35.

Essent Group (NYSE:ESNT) last posted its earnings results on Friday, November 1st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.05). The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $316.80 million. Essent Group had a return on equity of 14.40% and a net margin of 61.31%. Essent Group’s revenue was up 969.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.66 EPS. As a group, analysts forecast that Essent Group will post 7.02 earnings per share for the current fiscal year.

Insider Activity at Essent Group

In other Essent Group news, CFO David B. Weinstock sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total value of $127,180.00. Following the completion of the sale, the chief financial officer now owns 25,416 shares in the company, valued at approximately $1,616,203.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO David B. Weinstock sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total value of $127,180.00. Following the transaction, the chief financial officer now owns 25,416 shares in the company, valued at $1,616,203.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Roy James Kasmar sold 5,000 shares of Essent Group stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $58.81, for a total value of $294,050.00. Following the completion of the transaction, the director now owns 27,140 shares in the company, valued at $1,596,103.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Essent Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in Essent Group by 726.8% in the 3rd quarter. UMB Bank n.a. now owns 463 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 407 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Essent Group in the first quarter valued at approximately $32,000. Harbor Capital Advisors Inc. acquired a new position in Essent Group during the third quarter worth $32,000. Headlands Technologies LLC purchased a new position in Essent Group in the second quarter worth $47,000. Finally, Quarry LP lifted its holdings in Essent Group by 167.1% in the second quarter. Quarry LP now owns 836 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 523 shares during the period. Hedge funds and other institutional investors own 93.00% of the company’s stock.

About Essent Group

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.