Essent Group (NYSE:ESNT) Given New $75.00 Price Target at Keefe, Bruyette & Woods

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

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

Essent Group Trading Down 0.2 %

NYSE ESNT opened at $55.38 on Tuesday. The stock’s 50 day moving average is $58.83 and its 200 day moving average is $59.52. Essent Group has a 12 month low of $50.37 and a 12 month high of $65.33. The stock 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.

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

Essent Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, December 2nd were paid a $0.28 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 2.02%. Essent Group’s dividend payout ratio is currently 16.23%.

Insiders Place Their Bets

In other news, CFO David B. Weinstock sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total value of $127,180.00. Following the completion of the sale, the chief financial officer now owns 25,416 shares of the company’s stock, valued at approximately $1,616,203.44. This represents a 7.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Essent Group

Hedge funds have recently modified their holdings of the business. UMB Bank n.a. lifted its position in shares of Essent Group by 726.8% in the 3rd quarter. UMB Bank n.a. now owns 463 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 407 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Essent Group during the 3rd quarter worth approximately $32,000. Quarry LP raised its stake in shares of Essent Group by 167.1% during the 2nd quarter. Quarry LP now owns 836 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 523 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Essent Group during the 2nd quarter worth approximately $47,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Essent Group by 53.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 93.00% of the company’s stock.

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.