Essent Group Ltd. Expected to Earn Q4 2024 Earnings of $1.72 Per Share (NYSE:ESNT)

Essent Group Ltd. (NYSE:ESNTFree Report) – Equities researchers at Roth Capital cut their Q4 2024 earnings estimates for shares of Essent Group in a research report issued on Monday, February 12th. Roth Capital analyst H. Fong now expects that the financial services provider will earn $1.72 per share for the quarter, down from their prior estimate of $1.77. The consensus estimate for Essent Group’s current full-year earnings is $6.66 per share. Roth Capital also issued estimates for Essent Group’s Q1 2025 earnings at $1.69 EPS and Q4 2025 earnings at $1.84 EPS.

A number of other brokerages have also commented on ESNT. Barclays initiated coverage on shares of Essent Group in a report on Wednesday, November 15th. They issued an “overweight” rating and a $60.00 price objective on the stock. UBS Group initiated coverage on shares of Essent Group in a report on Wednesday, December 6th. They issued a “neutral” rating and a $54.00 price objective on the stock. StockNews.com lowered shares of Essent Group from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Royal Bank of Canada boosted their price objective on shares of Essent Group from $56.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.25.

Read Our Latest Report on ESNT

Essent Group Price Performance

Shares of ESNT stock opened at $53.06 on Tuesday. Essent Group has a 12 month low of $36.53 and a 12 month high of $56.45. The firm has a market capitalization of $5.66 billion, a P/E ratio of 8.16, a P/E/G ratio of 0.78 and a beta of 1.06. The company’s fifty day moving average price is $52.91 and its two-hundred day moving average price is $50.41.

Essent Group (NYSE:ESNTGet Free Report) last announced its quarterly earnings results on Friday, February 9th. The financial services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. Essent Group had a net margin of 62.75% and a return on equity of 14.44%. The firm had revenue of $297.30 million during the quarter, compared to analysts’ expectations of $286.18 million. During the same period in the prior year, the company earned $1.37 EPS. The firm’s revenue was up 29.3% on a year-over-year basis.

Institutional Investors Weigh In On Essent Group

Hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC raised its holdings in shares of Essent Group by 191.3% during the second quarter. Inspire Investing LLC now owns 19,856 shares of the financial services provider’s stock valued at $929,000 after buying an additional 13,040 shares during the last quarter. Van ECK Associates Corp boosted its position in Essent Group by 8.7% during the 2nd quarter. Van ECK Associates Corp now owns 15,820 shares of the financial services provider’s stock worth $740,000 after acquiring an additional 1,267 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Essent Group by 17.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,014 shares of the financial services provider’s stock worth $946,000 after purchasing an additional 2,906 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Essent Group by 112.7% during the second quarter. Citigroup Inc. now owns 70,404 shares of the financial services provider’s stock valued at $3,295,000 after purchasing an additional 37,305 shares during the period. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Essent Group during the second quarter valued at about $10,744,000. 91.77% of the stock is currently owned by institutional investors.

Insider Activity at Essent Group

In other news, SVP Mary Lourdes Gibbons sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the transaction, the senior vice president now directly owns 247,969 shares of the company’s stock, valued at $13,638,295. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.10% of the company’s stock.

Essent Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Wednesday, March 13th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, March 12th. This is a positive change from Essent Group’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a dividend yield of 2.11%. Essent Group’s payout ratio is 15.38%.

Essent Group Company Profile

(Get Free Report)

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its mortgage insurance products include primary, pool, and master policy. The company also provides information technology maintenance and development services; customer support-related services; underwriting consulting; and contract underwriting services.

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