Essent Group Ltd. (NYSE:ESNT – Get Free Report) Director Roy Kasmar sold 4,837 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $68.71, for a total value of $332,350.27. Following the completion of the sale, the director directly owned 21,361 shares of the company’s stock, valued at approximately $1,467,714.31. The trade was a 18.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Essent Group Stock Performance
NYSE ESNT traded up $0.58 on Monday, hitting $68.76. 554,069 shares of the stock were exchanged, compared to its average volume of 718,964. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.18 and a quick ratio of 1.18. The business’s fifty day moving average is $67.25 and its 200 day moving average is $62.65. Essent Group Ltd. has a 52 week low of $55.34 and a 52 week high of $70.37. The company has a market capitalization of $6.18 billion, a PE ratio of 9.59, a P/E/G ratio of 1.71 and a beta of 0.76.
Essent Group (NYSE:ESNT – Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The financial services provider reported $2.08 EPS for the quarter. The company had revenue of $362.69 million during the quarter. Essent Group had a net margin of 51.45% and a return on equity of 11.91%. Research analysts anticipate that Essent Group Ltd. will post 7.6 EPS for the current fiscal year.
Essent Group Announces Dividend
Analyst Ratings Changes
Several analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Essent Group from $74.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Roth Capital boosted their target price on Essent Group from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, August 10th. JPMorgan Chase & Co. increased their price target on Essent Group from $65.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Royal Bank Of Canada raised their price target on Essent Group from $68.00 to $75.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised shares of Essent Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.86.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Essent Group in the second quarter valued at approximately $798,836,000. California State Teachers Retirement System increased its stake in Essent Group by 5,609.6% during the 2nd quarter. California State Teachers Retirement System now owns 6,597,378 shares of the financial services provider’s stock worth $424,079,000 after acquiring an additional 6,481,829 shares during the period. Geode Capital Management LLC raised its holdings in Essent Group by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 3,076,950 shares of the financial services provider’s stock valued at $206,628,000 after acquiring an additional 129,672 shares in the last quarter. Norges Bank acquired a new position in Essent Group in the 4th quarter valued at $155,516,000. Finally, Cooke & Bieler LP lifted its position in shares of Essent Group by 0.7% during the 4th quarter. Cooke & Bieler LP now owns 1,952,006 shares of the financial services provider’s stock valued at $126,900,000 after acquiring an additional 13,318 shares during the period. Institutional investors and hedge funds own 93.00% of the company’s stock.
About Essent Group
Essent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company that provides private mortgage insurance and related risk-management services for the U.S. residential housing market. Through its operating subsidiaries, the company helps mortgage lenders manage the credit risk associated with low-down-payment home loans.
Essent’s principal business is mortgage insurance, which protects lenders and other mortgage investors against losses if a borrower defaults. Its products are generally used with conventional residential mortgages that have loan-to-value ratios above the levels traditionally eligible for uninsured financing.
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