Essent Group Ltd. (NYSE:ESNT) had its target price lifted by Barclays PLC from $40.00 to $43.00 in a research report released on Monday, May 15th, StockTargetPrices.com reports. They currently have an overweight rating on the financial services provider’s stock.
Several other analysts have also commented on ESNT. Deutsche Bank AG initiated coverage on shares of Essent Group in a research note on Friday, January 20th. They set a buy rating and a $38.00 target price for the company. Zacks Investment Research raised shares of Essent Group from a sell rating to a buy rating and set a $39.00 target price for the company in a research note on Wednesday, February 1st. BTIG Research reissued a hold rating on shares of Essent Group in a research note on Sunday, February 12th. Keefe, Bruyette & Woods set a $38.00 price target on shares of Essent Group and gave the company a hold rating in a research report on Friday, March 17th. Finally, J P Morgan Chase & Co downgraded shares of Essent Group from an overweight rating to a neutral rating and set a $39.00 price target for the company. in a research report on Friday, April 21st. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $38.29.
Shares of Essent Group (NYSE:ESNT) traded down 0.27% on Monday, hitting $36.44. The company had a trading volume of 601,403 shares. Essent Group has a 12 month low of $19.89 and a 12 month high of $39.50. The company has a 50-day moving average of $36.42 and a 200 day moving average of $35.10. The stock has a market cap of $3.40 billion, a PE ratio of 13.96 and a beta of 1.14.
Essent Group (NYSE:ESNT) last released its earnings results on Friday, May 5th. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.69 by $0.03. Essent Group had a net margin of 49.91% and a return on equity of 18.16%. The business had revenue of $127.60 million during the quarter, compared to analyst estimates of $126.70 million. During the same period in the prior year, the business earned $0.52 earnings per share. The business’s quarterly revenue was up 24.5% on a year-over-year basis. Analysts anticipate that Essent Group will post $2.94 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESNT. James Investment Research Inc. bought a new position in Essent Group during the first quarter valued at $144,000. Peregrine Capital Management LLC raised its position in Essent Group by 7.4% in the first quarter. Peregrine Capital Management LLC now owns 887,404 shares of the financial services provider’s stock valued at $31,512,000 after buying an additional 61,010 shares in the last quarter. Evanson Asset Management LLC bought a new position in Essent Group during the first quarter valued at $215,000. State Street Corp raised its position in Essent Group by 57.1% in the fourth quarter. State Street Corp now owns 2,138,526 shares of the financial services provider’s stock valued at $69,221,000 after buying an additional 777,132 shares in the last quarter. Finally, Cim LLC raised its position in Essent Group by 2.9% in the first quarter. Cim LLC now owns 17,110 shares of the financial services provider’s stock valued at $619,000 after buying an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 85.64% of the company’s stock.
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.
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