Essent Group (NYSE:ESNT) Price Target Raised to $75.00

Essent Group (NYSE:ESNT) had its price target raised by Keefe, Bruyette & Woods from $73.00 to $75.00 in a research note released on Tuesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on ESNT. The Goldman Sachs Group cut their price objective on Essent Group from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price objective on Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday. Barclays lowered their target price on shares of Essent Group from $72.00 to $69.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Royal Bank of Canada reduced their price objective on Essent Group from $73.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.71.

Essent Group Price Performance

Shares of NYSE:ESNT opened at $55.38 on Tuesday. Essent Group has a 1 year low of $50.37 and a 1 year high of $65.33. The company has a market cap of $5.88 billion, a PE ratio of 8.03, a P/E/G ratio of 2.62 and a beta of 1.09. The stock’s 50-day moving average is $58.83 and its 200 day moving average is $59.52.

Essent Group (NYSE:ESNT) last announced its quarterly earnings results on Friday, November 1st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.08). The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $316.80 million. Essent Group had a net margin of 60.15% and a return on equity of 13.81%. The firm’s revenue for the quarter was up 969.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.66 EPS. Analysts expect that Essent Group will post 6.95 EPS for the current fiscal year.

Essent Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, December 2nd were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Monday, December 2nd. Essent Group’s dividend payout ratio (DPR) is 16.23%.

Insider Activity at Essent Group

In other Essent Group news, CFO David B. Weinstock sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total transaction of $127,180.00. Following the transaction, the chief financial officer now owns 25,416 shares in the company, valued at approximately $1,616,203.44. This represents a 7.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Essent Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its stake in Essent Group by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 47,182 shares of the financial services provider’s stock valued at $2,993,000 after acquiring an additional 1,309 shares during the period. World Investment Advisors LLC bought a new position in Essent Group during the 3rd quarter valued at about $686,000. Barclays PLC increased its position in shares of Essent Group by 154.7% during the 3rd quarter. Barclays PLC now owns 208,927 shares of the financial services provider’s stock valued at $13,431,000 after purchasing an additional 126,899 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Essent Group during the 3rd quarter valued at about $407,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Essent Group during the 3rd quarter valued at about $215,000. Institutional investors own 93.00% of the company’s stock.

Essent Group Company Profile

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.