Essent Group Ltd (NYSE:ESNT) Director Robert Glanville sold 3,000 shares of Essent Group stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $44.88, for a total transaction of $134,640.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Essent Group Ltd (ESNT) traded up $0.17 during mid-day trading on Thursday, hitting $45.72. 931,815 shares of the stock traded hands, compared to its average volume of 691,149. The company has a market cap of $4,482.69, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.48 and a beta of 1.15. Essent Group Ltd has a 12-month low of $31.33 and a 12-month high of $46.15.
Essent Group (NYSE:ESNT) last announced its quarterly earnings data on Thursday, November 9th. The financial services provider reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.07. The firm had revenue of $150.20 million for the quarter, compared to the consensus estimate of $143.79 million. Essent Group had a net margin of 51.64% and a return on equity of 18.55%. The company’s revenue was up 23.9% on a year-over-year basis. During the same period last year, the firm earned $0.65 EPS. analysts predict that Essent Group Ltd will post 3.08 earnings per share for the current year.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Essent Group from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Friday, September 8th. Deutsche Bank lifted their price target on shares of Essent Group from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. BidaskClub upgraded shares of Essent Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. Wells Fargo & Company assumed coverage on shares of Essent Group in a research note on Tuesday, November 28th. They set an “outperform” rating and a $52.00 price target on the stock. Finally, Keefe, Bruyette & Woods upgraded shares of Essent Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $43.00 to $44.00 in a research note on Wednesday, August 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $45.78.
Several hedge funds have recently made changes to their positions in ESNT. BNP Paribas Arbitrage SA increased its holdings in Essent Group by 1,181.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 37,484 shares of the financial services provider’s stock valued at $1,392,000 after acquiring an additional 34,560 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in Essent Group by 26.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 110,244 shares of the financial services provider’s stock valued at $4,094,000 after acquiring an additional 23,018 shares during the last quarter. Renaissance Group LLC increased its holdings in Essent Group by 5.5% in the 2nd quarter. Renaissance Group LLC now owns 23,276 shares of the financial services provider’s stock valued at $864,000 after acquiring an additional 1,205 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Essent Group by 18.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 735,340 shares of the financial services provider’s stock valued at $27,311,000 after acquiring an additional 115,177 shares during the last quarter. Finally, First Quadrant L P CA bought a new stake in Essent Group in the 3rd quarter valued at $420,000. Hedge funds and other institutional investors own 85.83% of the company’s stock.
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About Essent Group
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance.
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