Compass Point Raises Essent Group (NYSE:ESNT) Price Target to $60.75

Essent Group (NYSE:ESNT) had its price objective raised by equities researchers at Compass Point from $57.50 to $60.75 in a research report issued to clients and investors on Monday, February 12th, Marketbeat.com reports. The firm currently has a “buy” rating on the financial services provider’s stock. Compass Point’s price objective indicates a potential upside of 31.38% from the company’s previous close.

A number of other research firms have also recently commented on ESNT. Deutsche Bank raised shares of Essent Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $61.00 in a research note on Monday, January 8th. Susquehanna Bancshares set a $62.00 price objective on shares of Essent Group and gave the company a “buy” rating in a research note on Friday, February 9th. BidaskClub cut shares of Essent Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. BTIG Research upped their price objective on shares of Essent Group from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, Royal Bank of Canada assumed coverage on shares of Essent Group in a research note on Wednesday, December 20th. They set an “outperform” rating and a $54.00 price objective for the company. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Essent Group presently has a consensus rating of “Buy” and an average price target of $52.52.

Essent Group (NYSE:ESNT) opened at $46.24 on Monday. The stock has a market cap of $4,623.19, a price-to-earnings ratio of 11.68, a P/E/G ratio of 0.99 and a beta of 1.15. Essent Group has a 1 year low of $33.45 and a 1 year high of $50.08.

Essent Group (NYSE:ESNT) last released its quarterly earnings data on Friday, February 9th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Essent Group had a net margin of 65.87% and a return on equity of 17.77%. The company had revenue of $161.77 million during the quarter, compared to analysts’ expectations of $155.22 million. During the same quarter in the previous year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. research analysts forecast that Essent Group will post 4.34 EPS for the current fiscal year.

In other news, CEO Mark Casale sold 370,673 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $44.50, for a total value of $16,494,948.50. Following the transaction, the chief executive officer now directly owns 1,845,356 shares in the company, valued at approximately $82,118,342. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew Turnbull sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the transaction, the director now owns 45,409 shares in the company, valued at $2,043,405. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 401,686 shares of company stock worth $17,906,354. Company insiders own 18.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC lifted its holdings in Essent Group by 26.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 110,244 shares of the financial services provider’s stock worth $4,094,000 after buying an additional 23,018 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of Essent Group in the 3rd quarter valued at approximately $420,000. 361 Capital LLC purchased a new stake in shares of Essent Group in the 3rd quarter valued at approximately $2,118,000. Cipher Capital LP increased its position in shares of Essent Group by 44.5% in the 3rd quarter. Cipher Capital LP now owns 82,458 shares of the financial services provider’s stock valued at $3,340,000 after purchasing an additional 25,374 shares during the last quarter. Finally, Koch Industries Inc. purchased a new stake in shares of Essent Group in the 2nd quarter valued at approximately $395,000. Institutional investors own 88.09% of the company’s stock.

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Essent Group Company Profile

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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