Essent Group (NYSE:ESNT)‘s stock had its “buy” rating reaffirmed by stock analysts at Royal Bank of Canada in a research report issued on Tuesday, April 10th. They presently have a $48.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 42.39% from the company’s previous close. The analysts noted that the move was a valuation call.
A number of other research firms also recently weighed in on ESNT. BTIG Research boosted their target price on Essent Group from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Zacks Investment Research raised Essent Group from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Monday, December 25th. Deutsche Bank raised Essent Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $61.00 in a research note on Monday, January 8th. Zelman & Associates raised Essent Group from a “hold” rating to a “buy” rating in a research note on Monday, February 12th. Finally, Compass Point boosted their target price on Essent Group from $57.50 to $60.75 and gave the company a “buy” rating in a research note on Monday, February 12th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $51.06.
Shares of ESNT opened at $33.71 on Tuesday. Essent Group has a 52-week low of $32.91 and a 52-week high of $50.08. The firm has a market capitalization of $3,416.63, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 0.73 and a beta of 1.17.
Essent Group (NYSE:ESNT) last released its earnings results on Friday, February 9th. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $161.77 million during the quarter, compared to the consensus estimate of $155.22 million. Essent Group had a return on equity of 17.77% and a net margin of 65.87%. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 earnings per share. equities research analysts expect that Essent Group will post 4.35 earnings per share for the current year.
In related news, CEO Mark Casale sold 370,673 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.50, for a total transaction of $16,494,948.50. Following the sale, the chief executive officer now owns 1,845,356 shares in the company, valued at $82,118,342. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Deutsche Bank AG raised its stake in Essent Group by 94.9% in the fourth quarter. Deutsche Bank AG now owns 519,313 shares of the financial services provider’s stock valued at $22,545,000 after buying an additional 252,885 shares during the period. Insight Capital Research & Management Inc. bought a new stake in Essent Group in the third quarter valued at approximately $957,000. Swiss National Bank raised its stake in Essent Group by 2.2% in the fourth quarter. Swiss National Bank now owns 142,500 shares of the financial services provider’s stock valued at $6,187,000 after buying an additional 3,000 shares during the period. Nicholas Investment Partners LP raised its stake in Essent Group by 151.5% in the fourth quarter. Nicholas Investment Partners LP now owns 50,303 shares of the financial services provider’s stock valued at $2,184,000 after buying an additional 30,303 shares during the period. Finally, Two Sigma Advisers LP raised its stake in Essent Group by 548.2% in the fourth quarter. Two Sigma Advisers LP now owns 103,888 shares of the financial services provider’s stock valued at $4,511,000 after buying an additional 87,862 shares during the period. Hedge funds and other institutional investors own 88.98% of the company’s stock.
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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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