Essent Group Ltd. (NYSE:ESNT) Receives $56.25 Average Price Target from Analysts

Shares of Essent Group Ltd. (NYSE:ESNTGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $56.25.

ESNT has been the topic of a number of recent research reports. StockNews.com downgraded Essent Group from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. UBS Group assumed coverage on Essent Group in a research note on Wednesday, December 6th. They set a “neutral” rating and a $54.00 target price on the stock. Finally, Royal Bank of Canada upped their target price on Essent Group from $56.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, February 12th.

Get Our Latest Stock Analysis on ESNT

Essent Group Price Performance

Shares of ESNT stock opened at $58.53 on Friday. Essent Group has a 1 year low of $38.84 and a 1 year high of $59.90. The stock’s 50 day simple moving average is $54.73 and its two-hundred day simple moving average is $51.46. The company has a market cap of $6.26 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04.

Essent Group (NYSE:ESNTGet Free Report) last issued its quarterly earnings data on Friday, February 9th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. Essent Group had a return on equity of 14.44% and a net margin of 62.75%. The business had revenue of $297.30 million for the quarter, compared to the consensus estimate of $286.18 million. During the same period in the prior year, the business posted $1.37 earnings per share. The company’s quarterly revenue was up 29.3% compared to the same quarter last year. Equities research analysts expect that Essent Group will post 6.57 EPS for the current year.

Essent Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.28 per share. This is a boost from Essent Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.91%. Essent Group’s dividend payout ratio is currently 17.23%.

Insider Buying and Selling

In related news, SVP Mary Lourdes Gibbons sold 5,000 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the transaction, the senior vice president now owns 247,969 shares of the company’s stock, valued at $13,638,295. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in Essent Group by 0.5% in the first quarter. BlackRock Inc. now owns 14,995,922 shares of the financial services provider’s stock worth $617,982,000 after purchasing an additional 71,629 shares in the last quarter. Vanguard Group Inc. grew its stake in Essent Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 11,477,434 shares of the financial services provider’s stock worth $605,320,000 after purchasing an additional 75,825 shares in the last quarter. Capital World Investors boosted its position in Essent Group by 10.2% during the 1st quarter. Capital World Investors now owns 8,781,249 shares of the financial services provider’s stock valued at $361,875,000 after acquiring an additional 815,259 shares in the last quarter. State Street Corp boosted its position in Essent Group by 7.0% during the 1st quarter. State Street Corp now owns 4,375,800 shares of the financial services provider’s stock valued at $180,327,000 after acquiring an additional 286,764 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Essent Group by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,025,836 shares of the financial services provider’s stock valued at $212,326,000 after acquiring an additional 258,246 shares in the last quarter. Institutional investors own 93.00% of the company’s stock.

About Essent Group

(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, as well as risk management products and title insurance and settlement services.

Featured Articles

Analyst Recommendations for Essent Group (NYSE:ESNT)

Receive News & Ratings for Essent Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essent Group and related companies with MarketBeat.com's FREE daily email newsletter.