Essent Group Ltd. (NYSE:ESNT) Receives Average Rating of “Hold” from Brokerages

Shares of Essent Group Ltd. (NYSE:ESNT) have received a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $62.71.

A number of equities research analysts recently weighed in on ESNT shares. Barclays cut shares of Essent Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $69.00 to $58.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on Essent Group from $67.00 to $60.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Royal Bank of Canada cut their price target on Essent Group from $73.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Keefe, Bruyette & Woods decreased their price objective on Essent Group from $75.00 to $72.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered their target price on shares of Essent Group from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th.

Essent Group Stock Performance

ESNT opened at $57.54 on Friday. Essent Group has a one year low of $50.65 and a one year high of $65.33. The company has a market cap of $6.11 billion, a P/E ratio of 8.34, a PEG ratio of 2.68 and a beta of 1.11. The business’s 50-day simple moving average is $55.66 and its 200-day simple moving average is $59.27.

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

Essent Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Monday, December 2nd. Essent Group’s dividend payout ratio is currently 16.23%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ESNT. UMB Bank n.a. increased its position in shares of Essent Group by 726.8% during the third quarter. UMB Bank n.a. now owns 463 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 407 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Essent Group during the 3rd quarter worth approximately $32,000. Quarry LP raised its position in shares of Essent Group by 167.1% in the 2nd quarter. Quarry LP now owns 836 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 523 shares in the last quarter. R Squared Ltd purchased a new position in shares of Essent Group during the 4th quarter valued at approximately $63,000. Finally, Advisors Asset Management Inc. grew its position in shares of Essent Group by 53.9% during the third quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider’s stock worth $88,000 after buying an additional 477 shares in the last quarter. 93.00% of the stock is owned by institutional investors and hedge funds.

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.