Essent Group (NYSE:ESNT – Get Rating) had its price target lowered by equities researchers at JPMorgan Chase & Co. from $53.00 to $50.00 in a research report issued to clients and investors on Tuesday, The Fly reports. JPMorgan Chase & Co.'s target price would indicate a potential upside of 30.58% from the stock's current price.
A number of other analysts have also weighed in on ESNT. Royal Bank of Canada cut their target price on shares of Essent Group from $53.00 to $46.00 and set an "outperform" rating on the stock in a research note on Monday, November 7th. BTIG Research cut their target price on Essent Group from $54.00 to $45.00 in a research report on Friday, November 4th. The Goldman Sachs Group downgraded Essent Group from a "buy" rating to a "neutral" rating and set a $44.00 price target for the company. in a report on Thursday, January 5th. Barclays cut shares of Essent Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $54.00 to $43.00 in a report on Friday. Finally, TheStreet downgraded shares of Essent Group from a "b-" rating to a "c+" rating in a research report on Thursday, October 20th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Essent Group presently has a consensus rating of "Moderate Buy" and an average price target of $45.60.
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Essent Group Stock Performance
NYSE ESNT opened at $38.29 on Tuesday. Essent Group has a fifty-two week low of $34.27 and a fifty-two week high of $50.17. The firm has a market capitalization of $4.12 billion, a P/E ratio of 4.80, a price-to-earnings-growth ratio of 0.59 and a beta of 1.17. The stock's fifty day moving average is $38.63 and its two-hundred day moving average is $39.06.
Essent Group (NYSE:ESNT – Get Rating) last issued its quarterly earnings data on Friday, November 4th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. Essent Group had a return on equity of 20.33% and a net
margin of 84.17%. The firm had revenue of $261.77 million during the quarter, compared to the consensus estimate of $241.69 million. As a group, sell-side analysts forecast that Essent Group will post 7.95 EPS for the current year.
Insider Activity
In related news, Director Aditya Dutt sold 6,000 shares of the firm's stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $39.23, for a total value of $235,380.00. Following the completion of the sale, the director now owns 23,023 shares in the company, valued at $903,192.29. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.90% of the company's stock.
Institutional Investors Weigh In On Essent Group
Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Essent Group by 5.4% in the 3rd quarter. BlackRock Inc. now owns 15,395,154 shares of the financial services provider's stock valued at $536,829,000 after purchasing an additional 794,094 shares in the last quarter. Vanguard Group Inc. increased its holdings in Essent Group by 2.4% in the third quarter. Vanguard Group Inc. now owns 11,160,781 shares of the financial services provider's stock valued at $389,177,000 after buying an additional 261,537 shares in the last quarter. Capital World Investors lifted its position in shares of Essent Group by 10.2% during the 1st quarter. Capital World Investors now owns 8,781,249 shares of the financial services provider's stock valued at $361,875,000 after acquiring an additional 815,259 shares during the period. State Street Corp boosted its position in Essent Group by 7.0% during the first quarter. State Street Corp now owns 4,375,800 shares of the financial services provider's stock worth $180,327,000 after purchasing an additional 286,764 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in Essent Group by 0.5% in the third quarter. Macquarie Group Ltd. now owns 3,819,457 shares of the financial services provider's stock valued at $133,233,000 after purchasing an additional 19,256 shares during the last quarter. Institutional investors and hedge funds own 92.07% of the company's stock.
Essent Group Company Profile
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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.
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