Essent Group (NYSE:ESNT) Price Target Increased to $54.00 by Analysts at BTIG Research

Essent Group (NYSE:ESNT) had its price target hoisted by research analysts at BTIG Research from $49.00 to $54.00 in a report issued on Wednesday, December 20th, MarketBeat reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. BTIG Research’s target price points to a potential upside of 12.88% from the company’s previous close.

A number of other brokerages have also commented on ESNT. ValuEngine lowered Essent Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Wells Fargo & Co assumed coverage on Essent Group in a research note on Tuesday, November 28th. They issued an “outperform” rating and a $52.00 target price for the company. Deutsche Bank increased their price objective on Essent Group from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. BidaskClub upgraded Essent Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. Finally, Barclays increased their price objective on Essent Group from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Essent Group has a consensus rating of “Buy” and a consensus price target of $49.40.

Shares of Essent Group (NYSE ESNT) traded up $1.17 during trading on Wednesday, reaching $47.84. The company’s stock had a trading volume of 797,920 shares, compared to its average volume of 778,465. Essent Group has a 52-week low of $31.63 and a 52-week high of $47.96. The company has a market capitalization of $4,590.00, a PE ratio of 16.05, a P/E/G ratio of 1.20 and a beta of 1.15.

Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Thursday, November 9th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.07. Essent Group had a return on equity of 18.55% and a net margin of 51.64%. The company had revenue of $150.20 million during the quarter, compared to analysts’ expectations of $143.79 million. During the same period in the prior year, the business earned $0.65 earnings per share. Essent Group’s revenue for the quarter was up 23.9% compared to the same quarter last year. analysts predict that Essent Group will post 3.08 earnings per share for the current fiscal year.

In other Essent Group news, SVP Mary Lourdes Gibbons sold 4,836 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $42.04, for a total transaction of $203,305.44. Following the transaction, the senior vice president now owns 258,066 shares in the company, valued at $10,849,094.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andrew Turnbull sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the transaction, the director now owns 24,596 shares in the company, valued at approximately $1,131,416. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,858 shares of company stock worth $2,414,044. 18.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESNT. BNP Paribas Arbitrage SA raised its position in Essent Group by 1,181.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 37,484 shares of the financial services provider’s stock valued at $1,392,000 after buying an additional 34,560 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Essent Group by 26.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 110,244 shares of the financial services provider’s stock valued at $4,094,000 after buying an additional 23,018 shares during the last quarter. Renaissance Group LLC raised its position in Essent Group by 5.5% in the 2nd quarter. Renaissance Group LLC now owns 23,276 shares of the financial services provider’s stock valued at $864,000 after buying an additional 1,205 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Essent Group by 18.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 735,340 shares of the financial services provider’s stock valued at $27,311,000 after buying an additional 115,177 shares during the last quarter. Finally, First Quadrant L P CA acquired a new stake in Essent Group in the 3rd quarter valued at approximately $420,000. 85.83% of the stock is currently owned by institutional investors.

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About Essent Group

Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance.

Analyst Recommendations for Essent Group (NYSE:ESNT)

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