Shares of Essent Group Ltd. (NYSE:ESNT – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $65.00.
Several research analysts have commented on ESNT shares. The Goldman Sachs Group dropped their price target on 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 decreased their price objective on Essent Group from $72.00 to $69.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. decreased their price objective on Essent Group from $68.00 to $67.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Keefe, Bruyette & Woods raised shares of Essent Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $65.00 to $70.00 in a research report on Monday, August 5th. Finally, BTIG Research increased their target price on Essent Group from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, August 5th.
Get Our Latest Stock Report on ESNT
Essent Group Stock Performance
Essent Group (NYSE:ESNT – Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The financial services provider reported $1.65 earnings per share 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 the consensus estimate of $316.80 million. Essent Group had a net margin of 60.15% and a return on equity of 13.81%. The firm’s revenue was up 969.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.66 earnings per share. On average, analysts forecast that Essent Group will post 6.95 EPS for the current fiscal year.
Essent Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, December 2nd will be given a dividend of $0.28 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 2.02%. Essent Group’s dividend payout ratio (DPR) is presently 16.23%.
Insider Buying and Selling at Essent Group
In other news, CFO David B. Weinstock sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were 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. This represents a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.90% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of ESNT. Vanguard Group Inc. lifted its position in Essent Group by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 11,917,819 shares of the financial services provider’s stock valued at $709,229,000 after purchasing an additional 440,385 shares during the period. Dimensional Fund Advisors LP lifted 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 buying an additional 445,853 shares during the period. State Street Corp boosted its stake in Essent Group by 1.4% in the third quarter. State Street Corp now owns 4,206,325 shares of the financial services provider’s stock valued at $270,425,000 after acquiring an additional 59,750 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Essent Group by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,551,145 shares of the financial services provider’s stock worth $99,723,000 after acquiring an additional 12,431 shares during the period. Finally, Jennison Associates LLC increased its holdings in Essent Group by 1.4% in the third quarter. Jennison Associates LLC now owns 750,778 shares of the financial services provider’s stock valued at $48,268,000 after purchasing an additional 10,684 shares during the last quarter. Institutional investors and hedge funds 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.
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