Essent Group (NYSE:ESNT) Given New $60.00 Price Target at JPMorgan Chase & Co.

Essent Group (NYSE:ESNT) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $67.00 to $60.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 8.77% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Essent Group from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Barclays dropped their price target 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 lowered their target price on shares of Essent Group from $73.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Four research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.71.

Essent Group Price Performance

Shares of Essent Group stock opened at $55.16 on Monday. The firm has a 50 day simple moving average of $59.17 and a 200 day simple moving average of $59.56. Essent Group has a fifty-two week low of $49.41 and a fifty-two week high of $65.33. The firm has a market cap of $5.86 billion, a P/E ratio of 7.99, a P/E/G ratio of 2.62 and a beta of 1.09.

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

Insider Buying and Selling at Essent Group

In other Essent Group 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 transaction, the chief financial officer now directly owns 25,416 shares in the company, valued at approximately $1,616,203.44. The trade was a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Essent Group

A number of hedge funds have recently modified their holdings of ESNT. UMB Bank n.a. grew its position in shares of 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 during the period. Harbor Capital Advisors Inc. bought a new position in Essent Group in the third quarter valued at approximately $32,000. Quarry LP boosted its holdings in shares of 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 buying an additional 523 shares during the period. Headlands Technologies LLC bought a new stake in shares of Essent Group during the second quarter worth $47,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Essent Group by 53.9% during the third quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 477 shares during the period. Institutional investors and hedge funds 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.