Essent Group Ltd. (NYSE:ESNT) Given Average Rating of “Moderate Buy” by Brokerages

Essent Group Ltd. (NYSE:ESNT) has been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $64.71.

A number of research firms have issued reports on ESNT. Keefe, Bruyette & Woods raised their price target on Essent Group from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday. The Goldman Sachs Group lowered their price target on Essent Group from $68.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price objective on shares of Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a research note on Monday. Barclays lowered their target price on shares of Essent Group from $72.00 to $69.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Royal Bank of Canada reduced their price target on shares of Essent Group from $73.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th.

Insider Activity

In related news, CFO David B. Weinstock sold 2,000 shares of Essent Group stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total transaction of $127,180.00. Following the completion of the transaction, the chief financial officer now owns 25,416 shares in the company, valued at approximately $1,616,203.44. This trade represents a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Essent Group

Several institutional investors and hedge funds have recently modified their holdings of ESNT. Dimensional Fund Advisors LP boosted its position in shares of Essent Group by 10.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,680,074 shares of the financial services provider’s stock valued at $262,973,000 after acquiring an additional 445,853 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Essent Group by 132.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 424,542 shares of the financial services provider’s stock valued at $27,294,000 after purchasing an additional 241,840 shares during the period. AQR Capital Management LLC grew its position in shares of Essent Group by 68.8% during the 2nd quarter. AQR Capital Management LLC now owns 436,009 shares of the financial services provider’s stock worth $24,499,000 after purchasing an additional 177,700 shares in the last quarter. Barclays PLC increased its holdings in shares of Essent Group by 154.7% during the third quarter. Barclays PLC now owns 208,927 shares of the financial services provider’s stock worth $13,431,000 after purchasing an additional 126,899 shares during the period. Finally, Walleye Capital LLC increased its holdings in shares of Essent Group by 45.5% during the third quarter. Walleye Capital LLC now owns 345,675 shares of the financial services provider’s stock worth $22,223,000 after purchasing an additional 108,061 shares during the period. 93.00% of the stock is currently owned by institutional investors and hedge funds.

Essent Group Price Performance

Shares of NYSE:ESNT opened at $55.16 on Friday. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The business’s fifty day moving average price is $59.17 and its two-hundred day moving average price is $59.56. Essent Group has a fifty-two week low of $49.41 and a fifty-two week high of $65.33.

Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Friday, November 1st. The financial services provider reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.08). The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $316.80 million. Essent Group had a return on equity of 13.81% and a net margin of 60.15%. Essent Group’s revenue for the quarter was up 969.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 EPS. Research analysts expect that Essent Group will post 6.95 EPS for the current fiscal year.

Essent Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, December 2nd will be issued a $0.28 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.03%. Essent Group’s dividend payout ratio (DPR) is presently 16.23%.

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. 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.