Essent Group (NYSE:ESNT) Price Target Raised to $64.00 at BTIG Research

Essent Group (NYSE:ESNT) had its price objective boosted by BTIG Research from $61.00 to $64.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. Barclays lifted their price objective on Essent Group from $63.00 to $64.00 and gave the company an overweight rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of Essent Group from $62.00 to $63.00 and gave the company a neutral rating in a report on Monday. Royal Bank of Canada boosted their price target on shares of Essent Group from $61.00 to $67.00 and gave the company an outperform rating in a research report on Monday. UBS Group raised their price objective on shares of Essent Group from $57.00 to $58.00 and gave the stock a neutral rating in a report on Wednesday, May 22nd. Finally, Keefe, Bruyette & Woods upgraded Essent Group from a market perform rating to an outperform rating and increased their price target for the stock from $65.00 to $70.00 in a research report on Monday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Essent Group currently has an average rating of Moderate Buy and a consensus target price of $62.63.

Essent Group Stock Up 0.8 %

Shares of ESNT stock traded up $0.44 during trading hours on Monday, reaching $59.01. 426,824 shares of the company’s stock were exchanged, compared to its average volume of 520,070. Essent Group has a fifty-two week low of $45.63 and a fifty-two week high of $64.05. The stock has a market capitalization of $6.29 billion, a P/E ratio of 8.94, a P/E/G ratio of 1.44 and a beta of 1.11. The business has a fifty day moving average price of $57.82 and a 200-day moving average price of $55.96.

Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Friday, August 2nd. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.23. Essent Group had a net margin of 61.40% and a return on equity of 14.24%. The company had revenue of $272.90 million for the quarter, compared to the consensus estimate of $308.33 million. During the same quarter in the previous year, the firm posted $1.61 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. As a group, research analysts expect that Essent Group will post 6.69 EPS for the current fiscal year.

Essent Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 30th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Friday, August 30th. Essent Group’s dividend payout ratio (DPR) is currently 16.94%.

Insider Transactions at Essent Group

In other Essent Group news, SVP Vijay Bhasin sold 11,188 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $60.14, for a total value of $672,846.32. Following the completion of the transaction, the senior vice president now directly owns 199,359 shares in the company, valued at $11,989,450.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Essent Group news, SVP Vijay Bhasin sold 11,188 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $60.14, for a total value of $672,846.32. Following the completion of the sale, the senior vice president now owns 199,359 shares in the company, valued at $11,989,450.26. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Douglas J. Pauls sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $56.12, for a total transaction of $140,300.00. Following the transaction, the director now owns 27,112 shares in the company, valued at $1,521,525.44. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Essent Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. acquired a new position in shares of Essent Group in the first quarter valued at approximately $32,000. GAMMA Investing LLC acquired a new position in Essent Group in the 4th quarter valued at $37,000. Parkside Financial Bank & Trust increased its position in Essent Group by 18.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,543 shares of the financial services provider’s stock worth $81,000 after buying an additional 241 shares during the period. HBK Sorce Advisory LLC acquired a new stake in shares of Essent Group during the first quarter worth $215,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Essent Group in the first quarter valued at about $220,000. 93.00% of the stock is owned by institutional investors.

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.