Essent Group Ltd. (NYSE:ESNT) Receives $64.71 Consensus Price Target from Analysts

Shares of Essent Group Ltd. (NYSE:ESNT) have received an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $64.71.

Several analysts have commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Essent Group from $73.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group decreased their target price on shares of Essent Group from $68.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price target on Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Royal Bank of Canada decreased their price objective on Essent Group from $73.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, Barclays dropped their target price on Essent Group from $72.00 to $69.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th.

Essent Group Stock Up 0.1 %

Shares of ESNT stock opened at $54.48 on Tuesday. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 2.60 and a beta of 1.09. Essent Group has a 52-week low of $50.65 and a 52-week high of $65.33. The company’s 50 day moving average is $55.94 and its 200 day moving average is $59.26.

Essent Group (NYSE:ESNT) last announced its quarterly earnings results on Friday, November 1st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.08). The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $316.80 million. Essent Group had a net margin of 60.15% and a return on equity of 13.81%. The company’s revenue was up 969.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 earnings per share. Analysts anticipate that Essent Group will post 6.94 EPS for the current fiscal year.

Essent Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, December 2nd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 2.06%. Essent Group’s dividend payout ratio is currently 16.23%.

Institutional Investors Weigh In On Essent Group

Large investors have recently bought and sold shares of the company. Barclays PLC lifted its stake in Essent Group by 154.7% during the 3rd quarter. Barclays PLC now owns 208,927 shares of the financial services provider’s stock valued at $13,431,000 after acquiring an additional 126,899 shares during the period. Dimensional Fund Advisors LP boosted its holdings in 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 purchasing an additional 445,853 shares during the last quarter. Algert Global LLC acquired a new stake in Essent Group during the 2nd quarter worth about $605,000. Raymond James & Associates grew its position in Essent Group by 163.4% during the 3rd quarter. Raymond James & Associates now owns 44,676 shares of the financial services provider’s stock worth $2,872,000 after purchasing an additional 27,717 shares during the period. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of Essent Group during the 2nd quarter valued at about $526,000. Hedge funds and other institutional investors own 93.00% of the company’s stock.

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.