Essent Group (NYSE:ESNT – Get Free Report) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $72.00 to $66.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 6.20% from the stock’s previous close.
A number of other equities research analysts have also recently commented on the stock. Roth Capital raised their price objective on shares of Essent Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods lifted their target price on shares of Essent Group from $74.00 to $78.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Royal Bank Of Canada boosted their target price on shares of Essent Group from $68.00 to $75.00 and gave the company a “sector perform” rating in a research note on Monday, August 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Essent Group in a report on Friday, September 18th. Finally, BTIG Research began coverage on shares of Essent Group in a report on Tuesday, September 22nd. They set a “hold” rating on the stock. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.14.
View Our Latest Stock Report on ESNT
Essent Group Stock Up 0.8%
Essent Group (NYSE:ESNT – Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The financial services provider reported $2.08 earnings per share for the quarter. Essent Group had a return on equity of 11.91% and a net margin of 51.45%. The company had revenue of $362.69 million during the quarter. On average, sell-side analysts predict that Essent Group will post 7.60 EPS for the current year.
Insider Buying and Selling
In other Essent Group news, Director Roy Kasmar sold 4,837 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $68.71, for a total value of $332,350.27. Following the sale, the director directly owned 21,361 shares of the company’s stock, valued at approximately $1,467,714.31. This trade represents a 18.46% 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Casale sold 21,607 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $70.07, for a total value of $1,514,002.49. Following the completion of the sale, the chief executive officer directly owned 2,039,691 shares in the company, valued at approximately $142,921,148.37. The trade was a 1.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 70,146 shares of company stock worth $4,900,365 in the last ninety days. 3.60% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in ESNT. GAMMA Investing LLC lifted its holdings in Essent Group by 7.9% during the third quarter. GAMMA Investing LLC now owns 3,314 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 243 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Essent Group by 82.3% in the third quarter. Farther Finance Advisors LLC now owns 981 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 443 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Essent Group in the second quarter valued at about $216,000. Sequoia Financial Advisors LLC grew its position in shares of Essent Group by 19.9% in the second quarter. Sequoia Financial Advisors LLC now owns 7,908 shares of the financial services provider’s stock valued at $508,000 after purchasing an additional 1,315 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in shares of Essent Group during the second quarter worth about $822,000. 93.00% of the stock is owned by institutional investors and hedge funds.
Essent Group Company Profile
Essent Group Ltd. is a Bermuda-based holding company focused on private mortgage insurance and related risk-management solutions for the U.S. residential mortgage market. Through its subsidiaries, the company helps protect mortgage lenders and investors against losses when borrowers default on home loans.
Essent’s primary business is conducted through Essent Guaranty, Inc, which provides mortgage insurance for conventional residential mortgages, generally supporting loans made to borrowers with down payments below traditional thresholds.
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