Essent Group Ltd. (NYSE:ESNT) to Issue Quarterly Dividend of $0.35

Key Points

• Essent Group declared a quarterly dividend of $0.35 per share, payable on June 10 to stockholders of record on June 1; the stock’s dividend yield is about 2.2%.
• The company has raised its dividend annually for 6 straight years and has a low payout ratio of 19.2%, suggesting the dividend is well covered by earnings.
• Essent Group also reported better-than-expected quarterly results, with EPS of $1.82 versus the $1.72 consensus and revenue of $336.07 million, up 5.8% year over year.

Essent Group Ltd. (NYSE:ESNT - Get Free Report) declared a quarterly dividend on Friday, May 8th. Stockholders of record on Monday, June 1st will be paid a dividend of 0.35 per share by the financial services provider on Wednesday, June 10th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, June 1st.

Essent Group has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Essent Group has a dividend payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Essent Group to earn $7.84 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 17.9%.

Essent Group Stock Performance

Shares of ESNT traded up $1.54 during midday trading on Friday, reaching $63.12. The stock had a trading volume of 651,476 shares, compared to its average volume of 723,029. The firm has a 50 day simple moving average of $60.15 and a 200-day simple moving average of $61.75. Essent Group has a one year low of $55.22 and a one year high of $67.09. The firm has a market cap of $5.93 billion, a PE ratio of 9.16, a P/E/G ratio of 1.75 and a beta of 0.81. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.09.

Essent Group (NYSE:ESNT - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The financial services provider reported $1.82 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.10. Essent Group had a net margin of 54.72% and a return on equity of 12.09%. The company had revenue of $336.07 million during the quarter, compared to the consensus estimate of $297.56 million. During the same quarter last year, the firm posted $1.69 EPS. The company's quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Essent Group will post 7.28 EPS for the current year.

About Essent Group

Essent Group Ltd. NYSE: ESNT is a publicly traded insurance holding company specializing in private mortgage insurance and mortgage reinsurance solutions. Through its primary subsidiary, Essent Guaranty, the company provides credit protection to mortgage lenders, helping mitigate the risk of borrower default on residential mortgage loans. Essent's insurance policies enable lenders to offer low-down-payment programs, supporting homebuyers in achieving homeownership with reduced upfront equity requirements.

Beyond traditional mortgage insurance, Essent offers a suite of risk management and analytics services designed to help financial institutions monitor and manage mortgage portfolios.

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