Essent Group Ltd. (NYSE:ESNT) Receives $62.71 Consensus PT from Analysts

Shares of Essent Group Ltd. (NYSE:ESNT) have received an average recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $62.71.

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

Hedge Funds Weigh In On Essent Group

A number of institutional investors have recently modified their holdings of ESNT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Essent Group by 132.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 424,542 shares of the financial services provider’s stock worth $27,294,000 after purchasing an additional 241,840 shares during the period. Jennison Associates LLC raised its position in shares of Essent Group by 31.1% during the fourth quarter. Jennison Associates LLC now owns 984,414 shares of the financial services provider’s stock worth $53,591,000 after purchasing an additional 233,636 shares during the period. AQR Capital Management LLC raised its position in shares of Essent Group by 68.8% during the second quarter. AQR Capital Management LLC now owns 436,009 shares of the financial services provider’s stock worth $24,499,000 after purchasing an additional 177,700 shares during the period. Barclays PLC raised 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 worth $13,431,000 after purchasing an additional 126,899 shares during the period. Finally, Walleye Capital LLC grew its holdings in Essent Group by 45.5% during the third quarter. Walleye Capital LLC now owns 345,675 shares of the financial services provider’s stock worth $22,223,000 after buying an additional 108,061 shares in the last quarter. 93.00% of the stock is owned by institutional investors and hedge funds.

Essent Group Stock Down 0.1 %

Shares of ESNT opened at $58.57 on Friday. Essent Group has a twelve month low of $50.65 and a twelve month high of $65.33. The company has a 50 day moving average of $55.82 and a 200-day moving average of $59.36. The stock has a market capitalization of $6.22 billion, a P/E ratio of 8.49, a P/E/G ratio of 2.68 and a beta of 1.11.

Essent Group (NYSE:ESNT) last announced its quarterly earnings results on Friday, November 1st. The financial services provider reported $1.65 earnings per share (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 business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $316.80 million. During the same period in the prior year, the business earned $1.66 EPS. The company’s revenue for the quarter was up 969.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Essent Group will post 6.94 earnings per share for the current fiscal year.

Essent Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, December 2nd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.91%. The ex-dividend date was Monday, December 2nd. Essent Group’s dividend payout ratio (DPR) is presently 16.23%.

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.