Essent Group (NYSE:ESNT) Given New $67.00 Price Target at JPMorgan Chase & Co.

Essent Group (NYSE:ESNT – Get Free Report) had its price objective increased by research analysts at JPMorgan Chase & Co. from $66.00 to $67.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 3.28% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods raised their price objective on Essent Group from $74.00 to $78.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Royal Bank Of Canada boosted their target price on Essent Group from $68.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Monday, August 10th. Barclays dropped their price target on Essent Group from $66.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday. Wall Street Zen cut Essent Group from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Finally, Bank of America cut Essent Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $78.00 to $68.00 in a report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.75.

View Our Latest Stock Analysis on Essent Group

Essent Group Stock Up 0.1%

Shares of NYSE ESNT opened at $64.87 on Thursday. Essent Group has a 12 month low of $55.34 and a 12 month high of $71.84. The firm has a fifty day simple moving average of $65.38 and a two-hundred day simple moving average of $63.15. The company has a current ratio of 1.05, a quick ratio of 1.18 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $5.71 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 1.63 and a beta of 0.71.

Essent Group (NYSE:ESNT – Get Free Report) last issued its earnings results on Friday, November 6th. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.03). The company had revenue of $374.18 million for the quarter, compared to the consensus estimate of $344.17 million. Essent Group had a return on equity of 11.99% and a net margin of 49.08%. During the same quarter in the prior year, the company posted $1.67 EPS. Equities analysts expect that Essent Group will post 7.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Mark Casale sold 49,042 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $71.09, for a total value of $3,486,395.78. Following the sale, the chief executive officer directly owned 1,989,851 shares in the company, valued at $141,458,507.59. The trade was a 2.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas Pauls sold 2,500 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $69.70, for a total transaction of $174,250.00. Following the sale, the director owned 30,154 shares in the company, valued at $2,101,733.80. This represents a 7.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 118,705 shares of company stock worth $8,352,951. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Essent Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESNT. Allworth Financial LP purchased a new position in shares of Essent Group in the 2nd quarter worth approximately $31,000. Root Financial Partners LLC purchased a new stake in Essent Group during the 3rd quarter valued at $43,000. Versant Capital Management Inc raised its holdings in Essent Group by 790.6% during the 2nd quarter. Versant Capital Management Inc now owns 757 shares of the financial services provider’s stock valued at $49,000 after buying an additional 672 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Essent Group during the 2nd quarter valued at $55,000. Finally, Farther Finance Advisors LLC raised its holdings in Essent Group by 82.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 981 shares of the financial services provider’s stock valued at $57,000 after buying an additional 443 shares during the period. 93.00% of the stock is currently owned by hedge funds and other institutional investors.

Essent Group Company Profile

(Get Free Report)

Essent Group is a Bermuda-based provider of mortgage insurance and reinsurance, operating primarily in the United States. Its services help mortgage lenders manage the credit risk associated with residential home loans. Through its U.S. mortgage insurance subsidiary, Essent Guaranty, the company provides private mortgage insurance for eligible borrowers who make smaller down payments on conventional mortgages. The coverage can help lenders reduce potential losses if a borrower defaults. Essent also provides mortgage reinsurance through its reinsurance operations.

Further Reading

Analyst Recommendations for Essent Group (NYSE:ESNT)

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