Essent Group (NYSE:ESNT) Price Target Lowered to $60.00 at The Goldman Sachs Group

Essent Group (NYSE:ESNT) had its price target reduced by The Goldman Sachs Group from $68.00 to $60.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada reduced their price objective on Essent Group from $73.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday. JPMorgan Chase & Co. reduced their target price on Essent Group from $68.00 to $67.00 and set a “neutral” rating on the stock in a report on Monday. BTIG Research increased their price target on Essent Group from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays lowered their price target on Essent Group from $72.00 to $69.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Keefe, Bruyette & Woods upgraded Essent Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $65.00 to $70.00 in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Essent Group Stock Up 0.6 %

ESNT traded up $0.34 during trading on Tuesday, hitting $55.63. 87,738 shares of the stock were exchanged, compared to its average volume of 513,898. The firm has a market capitalization of $5.91 billion, a P/E ratio of 8.01, a PEG ratio of 1.78 and a beta of 1.12. The stock has a fifty day moving average price of $62.43 and a two-hundred day moving average price of $59.34. Essent Group has a 1-year low of $47.56 and a 1-year high of $65.33.

Essent Group (NYSE:ESNT) last posted its quarterly earnings results 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). 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 during the quarter, compared to analysts’ expectations of $316.80 million. During the same quarter last year, the firm earned $1.66 earnings per share. The firm’s quarterly revenue was up 969.2% compared to the same quarter last year. Analysts predict that Essent Group will post 6.95 EPS for the current year.

Essent Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Monday, December 2nd. Essent Group’s payout ratio is 16.23%.

Insider Buying and Selling at Essent Group

In other news, CFO David B. Weinstock sold 2,000 shares of the business’s stock in a transaction that occurred on 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 $1,616,203.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Essent Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESNT. Inspire Investing LLC grew its stake in shares of Essent Group by 2.8% during the third quarter. Inspire Investing LLC now owns 6,418 shares of the financial services provider’s stock worth $413,000 after buying an additional 177 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in Essent Group by 0.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 50,569 shares of the financial services provider’s stock worth $2,841,000 after purchasing an additional 203 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Essent Group by 2.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,297 shares of the financial services provider’s stock valued at $613,000 after buying an additional 287 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Essent Group by 2.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 15,552 shares of the financial services provider’s stock valued at $1,000,000 after purchasing an additional 298 shares during the last quarter. Finally, Provident Investment Management Inc. grew its holdings in Essent Group by 2.5% in the 2nd quarter. Provident Investment Management Inc. now owns 14,060 shares of the financial services provider’s stock worth $790,000 after acquiring an additional 345 shares during the last quarter. 93.00% of the stock is owned by institutional investors and hedge funds.

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.