Essent Group (NYSE:ESNT) Issues Quarterly Earnings Results

Essent Group (NYSE:ESNT - Get Free Report) posted its quarterly earnings data on Friday, May 9th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03, Zacks reports. The business had revenue of $317.56 million for the quarter, compared to analysts' expectations of $311.18 million. Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The business's revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.70 earnings per share.

Essent Group Stock Performance

Shares of NYSE:ESNT traded up $0.83 during midday trading on Friday, hitting $59.87. 630,962 shares of the company's stock traded hands, compared to its average volume of 638,254. The firm's fifty day moving average price is $56.27 and its two-hundred day moving average price is $56.32. The company has a market cap of $6.22 billion, a PE ratio of 8.75, a P/E/G ratio of 2.70 and a beta of 0.87. Essent Group has a twelve month low of $51.61 and a twelve month high of $65.34.

Essent Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 30th will be issued a $0.31 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.24 annualized dividend and a yield of 2.07%. Essent Group's payout ratio is 18.16%.

Insider Transactions at Essent Group

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. 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 shares of Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price objective on the stock in a report on Tuesday, April 8th. BTIG Research restated a "buy" rating on shares of Essent Group in a report on Friday, May 9th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Essent Group in a research report on Friday, May 9th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Essent Group in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.71.

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.