Essent Group Ltd. (NYSE:ESNT) Receives $61.71 Average PT from Analysts

Essent Group Ltd. (NYSE:ESNT - Get Free Report) has received a consensus rating of "Moderate Buy" from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $61.71.

ESNT has been the subject of several research reports. Royal Bank of Canada reiterated an "outperform" rating on shares of Essent Group in a research note on Friday. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Essent Group in a research note on Friday. JPMorgan Chase & Co. raised shares of Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 target price on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Essent Group in a research report on Friday. Finally, BTIG Research restated a "buy" rating on shares of Essent Group in a research report on Friday.

Essent Group Stock Down 0.4 %

Shares of ESNT stock traded down $0.25 during trading hours on Monday, hitting $58.47. 152,030 shares of the company's stock were exchanged, compared to its average volume of 791,455. The firm has a 50 day moving average of $55.95 and a two-hundred day moving average of $56.40. Essent Group has a fifty-two week low of $51.61 and a fifty-two week high of $65.33. The firm has a market cap of $6.07 billion, a P/E ratio of 8.55, a P/E/G ratio of 2.70 and a beta of 0.87.

Essent Group (NYSE:ESNT - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. Essent Group had a net margin of 58.69% and a return on equity of 13.35%. The company's revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.70 EPS. On average, equities analysts forecast that Essent Group will post 6.88 earnings per share for the current fiscal year.

Essent Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 14th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.12%. This is an increase from Essent Group's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 14th. Essent Group's dividend payout ratio (DPR) is presently 18.13%.

Institutional Investors Weigh In On Essent Group

A number of institutional investors and hedge funds have recently made changes to their positions in ESNT. Mainstream Capital Management LLC acquired a new position in Essent Group during the fourth quarter worth $25,000. AdvisorNet Financial Inc acquired a new position in Essent Group during the 1st quarter worth about $25,000. Picton Mahoney Asset Management boosted its holdings in Essent Group by 68.8% during the 4th quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 238 shares during the period. US Bancorp DE grew its position in Essent Group by 53.3% in the 4th quarter. US Bancorp DE now owns 1,125 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 391 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Essent Group during the fourth quarter worth about $63,000. 93.00% of the stock is owned by hedge funds and other 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.