Essent Group (NYSE:ESNT) released its earnings results on Friday. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.09, Briefing.com reports. Essent Group had a return on equity of 21.05% and a net margin of 64.34%. The firm had revenue of $226.39 million during the quarter, compared to analysts’ expectations of $216.35 million. During the same quarter last year, the business posted $1.18 earnings per share. The firm’s revenue was up 22.4% on a year-over-year basis.
Shares of NYSE:ESNT traded up $1.02 during trading on Friday, hitting $53.67. 751,197 shares of the company’s stock were exchanged, compared to its average volume of 572,360. Essent Group has a 52-week low of $31.08 and a 52-week high of $53.75. The business’s 50-day simple moving average is $50.22 and its 200 day simple moving average is $48.24. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 0.96 and a beta of 1.22.
ESNT has been the subject of several research analyst reports. ValuEngine upgraded Essent Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 24th. Deutsche Bank reiterated a “buy” rating on shares of Essent Group in a research report on Monday, October 28th. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Wednesday, October 23rd. BTIG Research reiterated a “buy” rating and set a $54.00 target price on shares of Essent Group in a research report on Sunday, August 4th. Finally, Peel Hunt reiterated a “buy” rating on shares of Essent Group in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Essent Group currently has a consensus rating of “Buy” and a consensus target price of $55.00.
In related news, SVP Mary Lourdes Gibbons sold 2,381 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $53.01, for a total transaction of $126,216.81. Following the completion of the transaction, the senior vice president now directly owns 212,785 shares of the company’s stock, valued at $11,279,732.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO David B. Weinstock sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $48.30, for a total value of $96,600.00. Following the transaction, the chief accounting officer now directly owns 22,118 shares of the company’s stock, valued at $1,068,299.40. The disclosure for this sale can be found here. Insiders have sold 8,381 shares of company stock valued at $414,217 in the last quarter. 2.90% of the stock is currently owned by company insiders.
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. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.
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