Essent Group Ltd. (NYSE:ESNT) Receives $58.38 Consensus Price Target from Analysts

Shares of Essent Group Ltd. (NYSE:ESNT) have received a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $58.38.

A number of research analysts have issued reports on ESNT shares. StockNews.com cut Essent Group from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Royal Bank of Canada raised their target price on shares of Essent Group from $56.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Keefe, Bruyette & Woods boosted their target price on shares of Essent Group from $62.00 to $64.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. lowered Essent Group from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $58.00 to $61.00 in a report on Wednesday, April 3rd.

Institutional Investors Weigh In On Essent Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust increased its holdings in shares of Essent Group by 18.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,543 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 241 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Essent Group by 0.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,198 shares of the financial services provider’s stock worth $2,542,000 after acquiring an additional 267 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Essent Group by 0.9% during the 3rd quarter. GHP Investment Advisors Inc. now owns 51,292 shares of the financial services provider’s stock valued at $2,455,000 after acquiring an additional 437 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Essent Group in the fourth quarter valued at $26,000. Finally, State of Michigan Retirement System raised its stake in Essent Group by 2.0% during the first quarter. State of Michigan Retirement System now owns 26,133 shares of the financial services provider’s stock valued at $1,555,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 93.00% of the company’s stock.

Essent Group Trading Up 0.2 %

Shares of ESNT opened at $53.98 on Thursday. Essent Group has a 1-year low of $40.33 and a 1-year high of $59.90. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 0.82 and a beta of 1.04. The firm’s 50-day moving average price is $55.01 and its 200-day moving average price is $52.31.

Essent Group (NYSE:ESNT) last announced its earnings results on Friday, February 9th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.05. The firm had revenue of $297.30 million during the quarter, compared to analyst estimates of $286.18 million. Essent Group had a return on equity of 14.44% and a net margin of 62.75%. The business’s revenue was up 29.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 EPS. On average, research analysts forecast that Essent Group will post 6.56 EPS for the current fiscal year.

Essent Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Wednesday, March 13th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, March 12th. This is an increase from Essent Group’s previous quarterly dividend of $0.25. Essent Group’s dividend payout ratio (DPR) is 17.23%.

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. 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.