Essent Group (NYSE:ESNT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised its price target on Essent Group from $65 to $72, while keeping a neutral rating. The new target implies about 11.9% upside from the current share price.
• Essent Group’s latest quarterly results beat Wall Street estimates, with EPS of $1.82 versus $1.68 expected and revenue of $336.07 million versus $297.56 million expected. Revenue also increased 5.8% year over year.
• Shares were roughly flat at $64.35, and the stock has drawn mixed analyst views overall, with a consensus rating of Hold and an average target price of $67.71. Insiders also sold shares recently, though institutional ownership remains high at 93%.

Essent Group (NYSE:ESNT - Get Free Report) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $65.00 to $72.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 11.88% from the company's current price.

A number of other research firms have also weighed in on ESNT. Keefe, Bruyette & Woods boosted their target price on Essent Group from $73.00 to $74.00 and gave the stock an "outperform" rating in a report on Thursday, June 25th. Roth Capital reaffirmed a "buy" rating and set a $65.00 price objective 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 report on Friday, May 22nd. They issued a "sector perform" rating and a $68.00 price objective on the stock. Barclays raised their target price on shares of Essent Group from $61.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Monday, May 11th. Finally, Weiss Ratings raised shares of Essent Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $67.71.

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Essent Group Stock Down 0.0%

Shares of NYSE:ESNT traded down $0.01 during midday trading on Monday, reaching $64.35. The company had a trading volume of 50,600 shares, compared to its average volume of 771,877. Essent Group has a 1-year low of $55.22 and a 1-year high of $67.09. The stock has a market cap of $5.93 billion, a PE ratio of 9.17, a P/E/G ratio of 1.79 and a beta of 0.76. 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 business's 50 day moving average price is $60.65 and its 200 day moving average price is $61.25.

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

Insider Activity at Essent Group

In other Essent Group news, CFO David B. Weinstock sold 5,500 shares of Essent Group stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $63.51, for a total value of $349,305.00. Following the completion of the sale, the chief financial officer owned 35,494 shares in the company, valued at $2,254,223.94. The trade was a 13.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mary Lourdes Gibbons sold 7,628 shares of the business's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $63.01, for a total transaction of $480,640.28. Following the completion of the sale, the senior vice president directly owned 237,586 shares of the company's stock, valued at $14,970,293.86. This represents a 3.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 65,651 shares of company stock worth $4,253,294. Corporate insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Essent Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in Essent Group during the third quarter worth approximately $25,000. Measured Wealth Private Client Group LLC acquired a new position in Essent Group in the 3rd quarter valued at $27,000. Los Angeles Capital Management LLC bought a new stake in shares of Essent Group during the 4th quarter valued at $27,000. IFP Advisors Inc lifted its position in shares of Essent Group by 97.1% during the 4th 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 during the period. Finally, Versant Capital Management Inc lifted its position in shares of Essent Group by 790.6% during the 2nd quarter. Versant Capital Management Inc now owns 757 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 672 shares during the period. 93.00% of the stock is currently owned by institutional investors and hedge funds.

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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