Essent Group Ltd. (NYSE:ESNT) Short Interest Up 11.5% in November

Essent Group Ltd. (NYSE:ESNT) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 1,650,000 shares, an increase of 11.5% from the November 15th total of 1,480,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 622,500 shares, the short-interest ratio is presently 2.7 days.

Essent Group Stock Performance

Shares of ESNT stock opened at $55.19 on Friday. The stock has a fifty day simple moving average of $58.49 and a two-hundred day simple moving average of $59.51. The firm has a market capitalization of $5.86 billion, a PE ratio of 8.00, a PEG ratio of 2.60 and a beta of 1.09. Essent Group has a 52-week low of $50.65 and a 52-week high of $65.33.

Essent Group (NYSE:ESNT) last released its quarterly earnings data on Friday, November 1st. The financial services provider reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.08). The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $316.80 million. Essent Group had a return on equity of 13.81% and a net margin of 60.15%. The business’s revenue was up 969.2% on a year-over-year basis. During the same period last year, the company earned $1.66 EPS. On average, sell-side analysts forecast that Essent Group will post 6.94 EPS for the current fiscal year.

Essent Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Monday, December 2nd. Essent Group’s dividend payout ratio (DPR) is currently 16.23%.

Insider Buying and Selling at Essent Group

In other Essent Group news, CFO David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total value of $127,180.00. Following the transaction, the chief financial officer now directly owns 25,416 shares of the company’s stock, valued at approximately $1,616,203.44. This trade represents a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Essent Group

Several institutional investors and hedge funds have recently modified their holdings of ESNT. Franklin Resources Inc. grew its stake in Essent Group by 2.9% during the third quarter. Franklin Resources Inc. now owns 47,182 shares of the financial services provider’s stock valued at $2,993,000 after acquiring an additional 1,309 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Essent Group during the 3rd quarter valued at about $686,000. 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 valued at $13,431,000 after purchasing an additional 126,899 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in shares of Essent Group during the third quarter valued at about $407,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Essent Group in the third quarter worth about $215,000. Institutional investors own 93.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ESNT. JPMorgan Chase & Co. dropped their price objective on shares of Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Keefe, Bruyette & Woods lifted their price target on shares of Essent Group from $73.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Barclays reduced their price objective on Essent Group from $72.00 to $69.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. The Goldman Sachs Group lowered their target price on Essent Group from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada reduced their price target on Essent Group from $73.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Four investment 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 currently has an average rating of “Moderate Buy” and an average price target of $64.71.

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.