Essent Group (NYSE:ESNT) Stock Price Target Raised at JPMorgan Chase & Co.

Essent Group (NYSE:ESNT) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $66.00 to $67.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 3.28% from the company’s previous close.

Several other research analysts have also issued reports on ESNT. Wall Street Zen lowered Essent Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Weiss Ratings upgraded Essent Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, November 4th. Royal Bank Of Canada increased their price target on Essent Group from $68.00 to $75.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. Keefe, Bruyette & Woods raised their price target on Essent Group from $74.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Finally, Barclays dropped their price objective on Essent Group from $66.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $70.75.

Essent Group Price Performance

ESNT stock opened at $64.87 on Thursday. Essent Group has a 12 month low of $55.34 and a 12 month high of $71.84. The company has a current ratio of 1.05, a quick ratio of 1.18 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $65.38 and a 200 day moving average price of $63.15. The stock has a market cap of $5.71 billion, a PE ratio of 8.86, a P/E/G ratio of 1.63 and a beta of 0.71.

Essent Group (NYSE:ESNT) last posted its quarterly earnings data on Friday, November 6th. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.03). Essent Group had a return on equity of 11.99% and a net margin of 49.08%. The firm had revenue of $374.18 million during the quarter, compared to analysts’ expectations of $344.17 million. During the same period last year, the company earned $1.67 earnings per share. Equities research analysts anticipate that Essent Group will post 7.58 earnings per share for the current year.

Insider Buying and Selling

In other Essent Group news, CFO David B. Weinstock sold 5,500 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $68.54, for a total value of $376,970.00. Following the completion of the sale, the chief financial officer directly owned 29,994 shares of the company’s stock, valued at $2,055,788.76. The trade was a 15.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Casale sold 49,042 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $71.09, for a total transaction of $3,486,395.78. Following the completion of the sale, the chief executive officer directly owned 1,989,851 shares of the company’s stock, valued at approximately $141,458,507.59. This trade represents a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 118,705 shares of company stock worth $8,352,951 over the last ninety days. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Essent Group

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Essent Group during the second quarter valued at approximately $798,836,000. Renaissancere Holdings Ltd. bought a new position in Essent Group in the second quarter worth approximately $107,114,521. Principal Financial Group Inc. grew its stake in Essent Group by 16.8% in the first quarter. Principal Financial Group Inc. now owns 914,471 shares of the financial services provider’s stock worth $53,442,000 after purchasing an additional 131,823 shares in the last quarter. Deutsche Bank AG bought a new position in Essent Group in the second quarter worth approximately $43,068,000. Finally, Pictet Asset Management Holding SA increased its holdings in Essent Group by 18.3% during the 3rd quarter. Pictet Asset Management Holding SA now owns 709,273 shares of the financial services provider’s stock worth $41,074,000 after purchasing an additional 109,494 shares during the period. 93.00% of the stock is owned by hedge funds and other institutional investors.

About Essent Group

Essent Group is a Bermuda-based provider of mortgage insurance and reinsurance, operating primarily in the United States. Its services help mortgage lenders manage the credit risk associated with residential home loans. Through its U.S. mortgage insurance subsidiary, Essent Guaranty, the company provides private mortgage insurance for eligible borrowers who make smaller down payments on conventional mortgages. The coverage can help lenders reduce potential losses if a borrower defaults. Essent also provides mortgage reinsurance through its reinsurance operations.