Essent Group Ltd. (NYSE:ESNT) CFO Lawrence E. Mcalee, Jr. sold 6,020 shares of the stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $27.17, for a total value of $163,563.40. Following the completion of the sale, the chief financial officer now owns 292,263 shares of the company’s stock, valued at approximately $7,940,785.71. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Essent Group Ltd. (NYSE:ESNT) opened at 26.57 on Friday. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 13.15 and a beta of 1.09. The company’s 50-day moving average price is $26.47 and its 200-day moving average price is $22.59. Essent Group Ltd. has a 52-week low of $16.49 and a 52-week high of $28.62.
Essent Group (NYSE:ESNT) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.04. Essent Group had a return on equity of 15.98% and a net margin of 46.40%. The company had revenue of $108.50 million for the quarter, compared to analysts’ expectations of $105.30 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. Equities research analysts expect that Essent Group Ltd. will post $2.27 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. SignalPoint Asset Management LLC raised its position in shares of Essent Group by 6.9% in the second quarter. SignalPoint Asset Management LLC now owns 23,916 shares of the company’s stock valued at $522,000 after buying an additional 1,536 shares during the period. Moody Aldrich Partners LLC raised its position in shares of Essent Group by 169.5% in the second quarter. Moody Aldrich Partners LLC now owns 79,610 shares of the company’s stock valued at $1,736,000 after buying an additional 50,065 shares during the period. Strs Ohio raised its position in shares of Essent Group by 16.9% in the second quarter. Strs Ohio now owns 51,300 shares of the company’s stock valued at $1,118,000 after buying an additional 7,400 shares during the period. Old Mutual Global Investors UK Ltd. raised its position in shares of Essent Group by 1.3% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 269,284 shares of the company’s stock valued at $5,873,000 after buying an additional 3,539 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Essent Group by 243.3% in the second quarter. Nordea Investment Management AB now owns 27,609 shares of the company’s stock valued at $602,000 after buying an additional 19,567 shares during the period. Institutional investors and hedge funds own 85.92% of the company’s stock.
Several research firms have weighed in on ESNT. Barclays PLC set a $30.00 price objective on Essent Group and gave the stock a “buy” rating in a report on Saturday, September 17th. Zacks Investment Research raised Essent Group from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Friday, August 5th. JPMorgan Chase & Co. increased their target price on Essent Group from $26.50 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Credit Suisse Group AG reissued a “hold” rating on shares of Essent Group in a research report on Monday, August 8th. Finally, Keefe, Bruyette & Woods lowered Essent Group from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $26.00 to $26.50 in a research report on Friday, August 5th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Essent Group presently has an average rating of “Buy” and an average price target of $27.05.
Essent Group Company Profile
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in serving the United States housing finance industry. It offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The primary mortgage insurance operations are conducted through Essent Guaranty, Inc (Essent Guaranty), a subsidiary of the company, which maintains operations centers and operates additional underwriting and service centers in Winston-Salem, North Carolina and Irvine, California.
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