Deutsche Bank Upgrades Essent Group (ESNT) to “Buy”

Essent Group (NYSE:ESNT) was upgraded by research analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat reports. The brokerage presently has a $61.00 target price on the financial services provider’s stock, up from their prior target price of $49.00. Deutsche Bank’s target price points to a potential upside of 33.51% from the stock’s current price.

ESNT has been the subject of a number of other reports. Zacks Investment Research upgraded Essent Group from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Monday, October 9th. Wells Fargo & Co assumed coverage on Essent Group in a report on Tuesday, November 28th. They issued an “outperform” rating and a $52.00 price target for the company. BidaskClub upgraded Essent Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 18th. Barclays boosted their price objective on Essent Group from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, November 10th. Finally, ValuEngine lowered Essent Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $49.40.

Shares of Essent Group (NYSE ESNT) traded up $0.17 during midday trading on Monday, hitting $45.69. The stock had a trading volume of 717,600 shares, compared to its average volume of 788,150. Essent Group has a 1-year low of $31.54 and a 1-year high of $47.29. The company has a market cap of $4,580.00, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 1.20 and a beta of 1.15.

Essent Group (NYSE:ESNT) last issued its quarterly earnings results on Thursday, November 9th. The financial services provider reported $0.82 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $150.20 million during the quarter, compared to the consensus estimate of $143.79 million. During the same period in the previous year, the business earned $0.65 EPS. The business’s quarterly revenue was up 23.9% on a year-over-year basis. research analysts anticipate that Essent Group will post 3.08 earnings per share for the current fiscal year.

In other Essent Group news, Director Andrew Turnbull sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the completion of the transaction, the director now owns 24,596 shares in the company, valued at approximately $1,131,416. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David B. Weinstock sold 3,000 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $41.71, for a total value of $125,130.00. Following the transaction, the vice president now owns 25,785 shares of the company’s stock, valued at approximately $1,075,492.35. The disclosure for this sale can be found here. Insiders have sold a total of 53,858 shares of company stock valued at $2,414,044 in the last 90 days. Insiders own 18.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ESNT. Victory Capital Management Inc. lifted its holdings in shares of Essent Group by 57.7% in the third quarter. Victory Capital Management Inc. now owns 2,351,264 shares of the financial services provider’s stock valued at $95,226,000 after buying an additional 860,300 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Essent Group by 9.1% in the second quarter. Vanguard Group Inc. now owns 7,826,998 shares of the financial services provider’s stock valued at $290,695,000 after buying an additional 655,163 shares during the period. Koch Industries Inc. acquired a new stake in shares of Essent Group in the second quarter valued at $395,000. Wells Fargo & Company MN lifted its holdings in shares of Essent Group by 58.5% in the third quarter. Wells Fargo & Company MN now owns 1,052,044 shares of the financial services provider’s stock valued at $42,607,000 after buying an additional 388,455 shares during the period. Finally, APG Asset Management N.V. acquired a new stake in shares of Essent Group in the third quarter valued at $13,535,000. Institutional investors own 85.83% of the company’s stock.

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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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