Essent Group (NYSE:ESNT) Price Target Cut to $55.00 by Analysts at BTIG Research

Essent Group (NYSE:ESNTGet Rating) had its price target reduced by BTIG Research from $58.00 to $55.00 in a research report released on Tuesday, The Fly reports.

ESNT has been the topic of a number of other research reports. StockNews.com began coverage on Essent Group in a research note on Thursday, March 31st. They issued a buy rating on the stock. Barclays raised their price objective on Essent Group from $65.00 to $72.00 and gave the company an overweight rating in a report on Monday, January 10th. Zacks Investment Research upgraded Essent Group from a hold rating to a buy rating and set a $52.00 target price for the company in a research report on Thursday, January 20th. JPMorgan Chase & Co. upgraded shares of Essent Group from a neutral rating to an overweight rating and set a $47.00 price target on the stock in a research report on Monday. Finally, Keefe, Bruyette & Woods upgraded shares of Essent Group from a market perform rating to an outperform rating and set a $51.00 price objective for the company in a report on Monday, December 13th. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Buy and a consensus price target of $55.44.

Shares of NYSE ESNT opened at $40.12 on Tuesday. The stock’s 50-day simple moving average is $42.81 and its two-hundred day simple moving average is $44.89. Essent Group has a twelve month low of $39.26 and a twelve month high of $54.22. The firm has a market capitalization of $4.37 billion, a P/E ratio of 6.57, a P/E/G ratio of 0.62 and a beta of 1.29.

Essent Group (NYSE:ESNTGet Rating) last released its quarterly earnings results on Friday, February 11th. The financial services provider reported $1.64 EPS for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.19. The business had revenue of $256.90 million during the quarter, compared to analysts’ expectations of $240.66 million. Essent Group had a net margin of 66.29% and a return on equity of 16.62%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 EPS. On average, sell-side analysts expect that Essent Group will post 6.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 21st. Stockholders of record on Thursday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Wednesday, March 9th. This is a positive change from Essent Group’s previous quarterly dividend of $0.19. Essent Group’s dividend payout ratio is 13.09%.

In related news, CEO Mark Casale sold 6,572 shares of the business’s stock in a transaction dated Thursday, January 13th. The stock was sold at an average price of $50.02, for a total transaction of $328,731.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Glanville purchased 1,000 shares of the stock in a transaction on Wednesday, March 9th. The shares were acquired at an average cost of $40.71 per share, with a total value of $40,710.00. The disclosure for this purchase can be found here. 2.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP boosted its holdings in Essent Group by 31.9% in the first quarter. First Trust Advisors LP now owns 124,034 shares of the financial services provider’s stock valued at $5,389,000 after acquiring an additional 29,966 shares in the last quarter. Strs Ohio raised its stake in Essent Group by 154.6% in the third quarter. Strs Ohio now owns 30,300 shares of the financial services provider’s stock worth $1,333,000 after buying an additional 18,400 shares in the last quarter. New York State Teachers Retirement System raised its stake in Essent Group by 6.5% in the third quarter. New York State Teachers Retirement System now owns 95,780 shares of the financial services provider’s stock worth $4,215,000 after buying an additional 5,864 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Essent Group by 0.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 57,435 shares of the financial services provider’s stock worth $2,528,000 after buying an additional 379 shares during the period. Finally, Nordea Investment Management AB boosted its position in Essent Group by 99.3% during the 3rd quarter. Nordea Investment Management AB now owns 263,674 shares of the financial services provider’s stock valued at $11,856,000 after acquiring an additional 131,365 shares in the last quarter. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Essent Group Company Profile (Get Rating)

Essent Group Ltd. is a holding company, which engages in the provision of banking services. It offers mortgage insurance, reinsurance, and risk management products. The company was founded by Mark A. Casale on July 1, 2008 and is headquartered in Hamilton, Bermuda.

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