Essent Group (NYSE:ESNT) Reaches New 52-Week High - Should You Buy?

Key Points

• Essent Group shares reached a new 52-week high of $70.37, up from a prior close of $69.43. The stock has an average analyst rating of “Hold” and an average price target of $71.86.
• The company reported quarterly EPS of $2.08 on $362.69 million in revenue, with a 51.45% net margin and 11.91% return on equity. Analysts expect full-year EPS of approximately $7.42.
• Essent declared a quarterly dividend of $0.35 per share, equivalent to a $1.40 annualized payout and a 2.0% yield. Insiders have sold about 40,320 shares worth $2.63 million over the past 90 days, while institutional investors own 93% of the company.

Essent Group Ltd. (NYSE:ESNT - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $70.37 and last traded at $70.0740, with a volume of 27584 shares trading hands. The stock had previously closed at $69.43.

Analyst Ratings Changes

ESNT has been the subject of several analyst reports. Weiss Ratings upgraded Essent Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, June 23rd. Wall Street Zen raised Essent Group from a "hold" rating to a "buy" rating in a research report on Saturday. Royal Bank Of Canada boosted their price target on shares of Essent Group from $68.00 to $75.00 and gave the company a "sector perform" rating in a report on Monday, August 10th. Barclays boosted their price objective on Essent Group from $62.00 to $65.00 and gave the stock an "equal weight" rating in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. increased their price target on Essent Group from $65.00 to $72.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $71.86.

Essent Group Trading Up 0.8%

The firm has a market cap of $6.29 billion, a P/E ratio of 9.77, a P/E/G ratio of 1.79 and a beta of 0.76. The business's 50-day moving average is $64.21 and its two-hundred day moving average is $61.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.18 and a quick ratio of 1.18.

Essent Group (NYSE:ESNT - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The financial services provider reported $2.08 EPS for the quarter. Essent Group had a net margin of 51.45% and a return on equity of 11.91%. The firm had revenue of $362.69 million during the quarter. As a group, analysts predict that Essent Group Ltd. will post 7.42 earnings per share for the current fiscal year.

Essent Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 31st will be paid a $0.35 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.40 annualized dividend and a yield of 2.0%. Essent Group's payout ratio is 19.53%.

Insiders Place Their Bets

In other news, CEO Mark Casale sold 29,329 shares of the business's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $65.35, for a total transaction of $1,916,650.15. Following the completion of the transaction, the chief executive officer owned 2,184,143 shares of the company's stock, valued at approximately $142,733,745.05. The trade was a 1.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Vijay Bhasin sold 483 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $70.00, for a total transaction of $33,810.00. Following the completion of the sale, the senior vice president owned 198,449 shares in the company, valued at $13,891,430. This represents a 0.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 40,320 shares of company stock worth $2,625,422 over the last ninety days. Corporate insiders own 3.60% of the company's stock.

Institutional Trading of Essent Group

A number of institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Essent Group during the 3rd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Essent Group during the third quarter valued at approximately $27,000. Los Angeles Capital Management LLC purchased a new position in Essent Group during the 4th quarter worth $27,000. Allworth Financial LP bought a new stake in Essent Group in the 2nd quarter worth about $31,000. Finally, IFP Advisors Inc grew its holdings 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 valued at $44,000 after acquiring an additional 333 shares in the last quarter. Institutional investors own 93.00% of the company's stock.

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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