Essent Group (NYSE:ESNT) Given New $69.00 Price Target at Compass Point

Essent Group (NYSE:ESNT - Get Free Report) had its price target increased by stock analysts at Compass Point from $62.00 to $69.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Compass Point's target price points to a potential upside of 19.38% from the stock's previous close.

Several other research firms have also recently issued reports on ESNT. The Goldman Sachs Group reissued a "neutral" rating on shares of Essent Group in a research report on Friday, May 9th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of Essent Group in a research report on Friday, May 9th. BTIG Research reiterated a "buy" rating on shares of Essent Group in a research note on Friday, May 9th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Essent Group in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. raised Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price target for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $63.29.

Essent Group Trading Up 0.4%

ESNT stock opened at $57.80 on Friday. The stock's 50 day simple moving average is $56.69 and its 200 day simple moving average is $56.34. Essent Group has a 12-month low of $51.61 and a 12-month high of $65.34. The stock has a market capitalization of $5.86 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 2.70 and a beta of 0.87.

Essent Group (NYSE:ESNT - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The financial services provider reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. Essent Group had a net margin of 58.69% and a return on equity of 13.35%. The business had revenue of $317.56 million during the quarter, compared to analyst estimates of $311.18 million. During the same period in the prior year, the business posted $1.70 earnings per share. The company's revenue was up 6.4% on a year-over-year basis. On average, research analysts predict that Essent Group will post 6.88 earnings per share for the current year.

Insider Buying and Selling

In other Essent Group news, SVP Mary Lourdes Gibbons sold 1,777 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $60.07, for a total transaction of $106,744.39. Following the completion of the sale, the senior vice president now directly owns 253,022 shares in the company, valued at $15,199,031.54. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Douglas J. Pauls sold 3,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $59.80, for a total transaction of $179,400.00. Following the completion of the transaction, the director now directly owns 27,165 shares in the company, valued at approximately $1,624,467. This represents a 9.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,001 shares of company stock valued at $299,591 over the last three months. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Essent Group

A number of hedge funds have recently made changes to their positions in ESNT. Barclays PLC grew its position in shares of Essent Group by 154.7% during the third quarter. Barclays PLC now owns 208,927 shares of the financial services provider's stock worth $13,431,000 after acquiring an additional 126,899 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Essent Group by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,532 shares of the financial services provider's stock valued at $85,500,000 after purchasing an additional 19,387 shares in the last quarter. Interval Partners LP raised its stake in shares of Essent Group by 17.9% during the 4th quarter. Interval Partners LP now owns 221,710 shares of the financial services provider's stock worth $12,070,000 after purchasing an additional 33,698 shares in the last quarter. KBC Group NV boosted its holdings in Essent Group by 39.8% in the fourth quarter. KBC Group NV now owns 4,207 shares of the financial services provider's stock worth $229,000 after purchasing an additional 1,198 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Essent Group by 5.5% in the fourth quarter. AQR Capital Management LLC now owns 516,747 shares of the financial services provider's stock valued at $28,132,000 after purchasing an additional 27,077 shares during the period. Institutional investors and hedge funds own 93.00% of the company's stock.

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.

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