Essent Group Ltd. (NYSE:ESNT) Given Consensus Recommendation of "Moderate Buy" by Analysts

Essent Group Ltd. (NYSE:ESNT - Get Free Report) has been given an average rating of "Moderate Buy" by the seven brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $63.29.

A number of equities analysts recently issued reports on ESNT shares. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Essent Group in a report on Friday, May 9th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Essent Group in a research report on Friday, May 9th. JPMorgan Chase & Co. upgraded Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price target for the company in a research report on Tuesday, April 8th. Compass Point set a $69.00 price objective on Essent Group and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, BTIG Research reissued a "buy" rating on shares of Essent Group in a report on Friday, May 9th.

Insider Activity at Essent Group

In other news, CFO David B. Weinstock sold 2,500 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $58.79, for a total transaction of $146,975.00. Following the transaction, the chief financial officer now owns 27,365 shares of the company's stock, valued at approximately $1,608,788.35. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mary Lourdes Gibbons sold 1,777 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $60.07, for a total value of $106,744.39. Following the sale, the senior vice president now directly owns 253,022 shares of the company's stock, valued at $15,199,031.54. This represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,500 shares of company stock valued at $566,506 over the last 90 days. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Essent Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mainstream Capital Management LLC bought a new position in shares of Essent Group in the fourth quarter worth about $25,000. AdvisorNet Financial Inc purchased a new stake in Essent Group in the 1st quarter valued at about $25,000. Picton Mahoney Asset Management grew its stake in Essent Group by 68.8% in the 4th quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider's stock worth $32,000 after acquiring an additional 238 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Essent Group during the first quarter worth approximately $46,000. Finally, US Bancorp DE increased its position in shares of Essent Group by 53.3% during the fourth quarter. US Bancorp DE now owns 1,125 shares of the financial services provider's stock worth $61,000 after acquiring an additional 391 shares during the period. Hedge funds and other institutional investors own 93.00% of the company's stock.

Essent Group Price Performance

Essent Group stock traded up $0.15 during mid-day trading on Tuesday, reaching $60.68. The stock had a trading volume of 1,487,067 shares, compared to its average volume of 744,096. The company has a 50-day moving average price of $58.08 and a two-hundred day moving average price of $56.73. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 3.48 and a beta of 0.81. Essent Group has a one year low of $51.61 and a one year high of $65.33.

Essent Group (NYSE:ESNT - Get Free Report) last issued its earnings results on Friday, May 9th. The financial services provider reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. Essent Group had a return on equity of 12.98% and a net margin of 57.29%. The business had revenue of $317.56 million for the quarter, compared to the consensus estimate of $311.18 million. During the same period last year, the business posted $1.70 EPS. The company's revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that Essent Group will post 6.88 earnings per share for the current fiscal year.

Essent Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 30th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Friday, May 30th. Essent Group's dividend payout ratio is presently 18.16%.

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. 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.