Essent Group (NYSE:ESNT) CEO Sells $81,024.60 in Stock

Key Points

• CEO Mark Casale sold shares of Essent Group, including 1,245 shares on July 6 for about $81,025 and a larger 29,329-share sale on July 7 for about $1.92 million, all under a pre-arranged Rule 10b5-1 plan.
• Essent Group shares were down slightly, falling 0.8% to $64.08, with the stock trading near its 52-week high of $67.09 and supported by a market cap of about $5.9 billion.
• The company posted solid quarterly results and pays a dividend, reporting EPS of $1.82 versus $1.68 expected and revenue of $336.07 million, while also paying a quarterly dividend of $0.35 per share for a 2.2% yield.

Essent Group Ltd. (NYSE:ESNT - Get Free Report) CEO Mark Casale sold 1,245 shares of the firm's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $65.08, for a total value of $81,024.60. Following the completion of the sale, the chief executive officer directly owned 2,213,472 shares of the company's stock, valued at $144,052,757.76. The trade was a 0.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Casale also recently made the following trade(s):

• On Tuesday, July 7th, Mark Casale sold 29,329 shares of Essent Group stock. The shares were sold at an average price of $65.35, for a total transaction of $1,916,650.15.
• On Tuesday, June 30th, Mark Casale sold 3,763 shares of Essent Group stock. The stock was sold at an average price of $65.01, for a total transaction of $244,632.63.
• On Tuesday, April 28th, Mark Casale sold 13,064 shares of Essent Group stock. The shares were sold at an average price of $65.05, for a total transaction of $849,813.20.

Essent Group Trading Down 0.8%

Shares of ESNT traded down $0.53 during trading hours on Wednesday, reaching $64.08. 922,008 shares of the company traded hands, compared to its average volume of 923,992. Essent Group Ltd. has a 12 month low of $55.22 and a 12 month high of $67.09. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.09. The company's fifty day moving average price is $60.64 and its two-hundred day moving average price is $61.27. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 1.79 and a beta of 0.76.

Essent Group (NYSE:ESNT - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The financial services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.68 by $0.14. The business had revenue of $336.07 million during the quarter, compared to analyst estimates of $297.56 million. Essent Group had a net margin of 53.64% and a return on equity of 12.01%. Essent Group's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $1.69 earnings per share. Equities research analysts predict that Essent Group Ltd. will post 7.25 earnings per share for the current fiscal year.

Essent Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, June 1st were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.2%. Essent Group's dividend payout ratio is currently 19.94%.

Hedge Funds Weigh In On Essent Group

Several large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in Essent Group during the 3rd quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new position in Essent Group in the third quarter worth about $27,000. Los Angeles Capital Management LLC bought a new position in shares of Essent Group in the fourth quarter worth approximately $27,000. IFP Advisors Inc lifted its stake in shares of Essent Group by 97.1% in the fourth quarter. IFP Advisors Inc now owns 676 shares of the financial services provider's stock worth $44,000 after buying an additional 333 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Essent Group by 790.6% during the second quarter. Versant Capital Management Inc now owns 757 shares of the financial services provider's stock valued at $49,000 after buying an additional 672 shares during the last quarter. Hedge funds and other institutional investors own 93.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ESNT shares. JPMorgan Chase & Co. reduced their price target on Essent Group from $65.00 to $64.00 and set a "neutral" rating on the stock in a research note on Thursday, April 9th. Roth Capital reaffirmed a "buy" rating and issued a $65.00 target price on shares of Essent Group in a research report on Wednesday, June 3rd. Royal Bank Of Canada assumed coverage on shares of Essent Group in a research note on Friday, May 22nd. They set a "sector perform" rating and a $68.00 price objective on the stock. UBS Group cut their price objective on shares of Essent Group from $65.00 to $63.00 and set a "neutral" rating on the stock in a report on Thursday, March 12th. Finally, Barclays lifted their target price on shares of Essent Group from $61.00 to $62.00 and gave the company an "equal weight" rating in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Essent Group currently has an average rating of "Hold" and an average price target of $66.57.

Essent Group Company Profile

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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