Essent Group Ltd (NYSE:ESNT) Given Consensus Rating of “Hold” by Analysts

Shares of Essent Group Ltd (NYSE:ESNT) have received an average rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $48.75.

Separately, Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th.

In related news, CFO Lawrence E. Mcalee, Jr. sold 9,963 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $50.01, for a total value of $498,249.63. Following the completion of the sale, the chief financial officer now owns 217,241 shares in the company, valued at approximately $10,864,222.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Hissong sold 19,886 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $48.34, for a total transaction of $961,289.24. Following the completion of the sale, the insider now owns 57,519 shares of the company’s stock, valued at approximately $2,780,468.46. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. grew its stake in Essent Group by 34.7% in the 4th quarter. Advisor Group Inc. now owns 1,145 shares of the financial services provider’s stock valued at $39,000 after buying an additional 295 shares during the last quarter. NEXT Financial Group Inc grew its stake in Essent Group by 96.0% in the 2nd quarter. NEXT Financial Group Inc now owns 1,470 shares of the financial services provider’s stock valued at $69,000 after buying an additional 720 shares during the last quarter. Group One Trading L.P. acquired a new position in Essent Group in the 1st quarter valued at $119,000. Carroll Financial Associates Inc. acquired a new position in Essent Group in the 2nd quarter valued at $146,000. Finally, Telemus Capital LLC acquired a new position in Essent Group in the 1st quarter valued at $204,000. Institutional investors own 90.07% of the company’s stock.

NYSE:ESNT traded up $0.73 during trading hours on Friday, reaching $47.57. 12,511 shares of the company’s stock were exchanged, compared to its average volume of 533,652. The stock has a market cap of $4.61 billion, a P/E ratio of 9.69, a P/E/G ratio of 0.91 and a beta of 1.33. Essent Group has a 12 month low of $31.08 and a 12 month high of $50.51. The stock has a 50-day moving average price of $48.14.

Essent Group (NYSE:ESNT) last issued its earnings results on Friday, May 3rd. The financial services provider reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.02. The firm had revenue of $200.53 million during the quarter, compared to analysts’ expectations of $196.94 million. Essent Group had a net margin of 64.33% and a return on equity of 21.36%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period last year, the firm posted $1.13 earnings per share. Analysts anticipate that Essent Group will post 5.27 earnings per share for the current fiscal year.

Essent Group Company Profile

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.

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