Essent Group (NYSE:ESNT) Price Target Increased to $67.00 by Analysts at Royal Bank of Canada

Essent Group (NYSE:ESNT) had its price target upped by Royal Bank of Canada from $61.00 to $67.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Barclays lifted their price objective on shares of Essent Group from $63.00 to $64.00 and gave the stock an overweight rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods raised shares of Essent Group from a market perform rating to an outperform rating and boosted their price target for the company from $65.00 to $70.00 in a report on Monday. JPMorgan Chase & Co. boosted their price target on shares of Essent Group from $62.00 to $63.00 and gave the company a neutral rating in a report on Monday. Finally, UBS Group lifted their price objective on shares of Essent Group from $57.00 to $58.00 and gave the company a neutral rating in a research note on Wednesday, May 22nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $62.63.

Essent Group Stock Up 0.8 %

Shares of Essent Group stock traded up $0.44 on Monday, hitting $59.01. 426,824 shares of the company’s stock traded hands, compared to its average volume of 520,070. The stock has a market cap of $6.29 billion, a P/E ratio of 8.94, a PEG ratio of 1.44 and a beta of 1.11. The firm’s 50-day moving average is $57.82 and its 200 day moving average is $55.96. Essent Group has a 52-week low of $45.63 and a 52-week high of $64.05.

Essent Group (NYSE:ESNT) last released its quarterly earnings data on Friday, August 2nd. The financial services provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.23. The firm had revenue of $272.90 million during the quarter, compared to the consensus estimate of $308.33 million. Essent Group had a net margin of 61.40% and a return on equity of 14.24%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.61 earnings per share. Equities research analysts forecast that Essent Group will post 6.69 EPS for the current year.

Essent Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 30th will be paid a $0.28 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. Essent Group’s payout ratio is 16.94%.

Insider Activity at Essent Group

In other news, Director Douglas J. Pauls sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $56.12, for a total transaction of $140,300.00. Following the completion of the transaction, the director now directly owns 27,112 shares in the company, valued at $1,521,525.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Douglas J. Pauls sold 2,500 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $56.12, for a total transaction of $140,300.00. Following the sale, the director now owns 27,112 shares in the company, valued at $1,521,525.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Vijay Bhasin sold 11,188 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $60.14, for a total value of $672,846.32. Following the sale, the senior vice president now owns 199,359 shares in the company, valued at approximately $11,989,450.26. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ESNT. Advisors Asset Management Inc. acquired a new position in Essent Group in the 1st quarter valued at $32,000. GAMMA Investing LLC acquired a new position in Essent Group during the 4th quarter worth approximately $37,000. Parkside Financial Bank & Trust raised its stake in shares of Essent Group by 18.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,543 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 241 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Essent Group in the fourth quarter worth approximately $200,000. Finally, HBK Sorce Advisory LLC purchased a new stake in shares of Essent Group in the first quarter worth approximately $215,000. 93.00% of the stock is currently owned by institutional investors.

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.