Essent Group (NYSE:ESNT) Price Target Raised to $75.00

Essent Group (NYSE:ESNT) had its price target raised by investment analysts at Keefe, Bruyette & Woods from $73.00 to $75.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 36.39% from the stock’s current price.

ESNT has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their price target on shares of Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday. The Goldman Sachs Group cut their target price on shares of Essent Group from $68.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, November 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 report on Monday, November 4th. Finally, Royal Bank of Canada lowered their target price on Essent Group from $73.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.71.

Essent Group Stock Performance

Shares of NYSE:ESNT traded up $0.26 during trading on Tuesday, reaching $54.99. 141,594 shares of the stock traded hands, compared to its average volume of 531,757. The stock has a market cap of $5.84 billion, a P/E ratio of 7.97, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The stock has a 50-day moving average of $59.17 and a two-hundred day moving average of $59.56. Essent Group has a 52-week low of $49.41 and a 52-week high of $65.33.

Essent Group (NYSE:ESNT) last issued its 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 business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $316.80 million. During the same quarter in the prior year, the business posted $1.66 earnings per share. The business’s revenue for the quarter was up 969.2% on a year-over-year basis. Sell-side analysts expect that Essent Group will post 6.95 earnings per share for the current year.

Insider Activity

In related news, CFO David B. Weinstock sold 2,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total transaction of $127,180.00. Following the completion of the sale, the chief financial officer now owns 25,416 shares in the company, valued at approximately $1,616,203.44. This trade represents a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESNT. Inspire Investing LLC lifted its holdings in shares of Essent Group by 2.8% in 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 in the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Essent Group by 0.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 50,569 shares of the financial services provider’s stock valued at $2,841,000 after purchasing an additional 203 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Essent Group by 2.0% during the third 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 in the last quarter. Provident Investment Management Inc. increased its holdings in shares of Essent Group by 2.5% in the second quarter. Provident Investment Management Inc. now owns 14,060 shares of the financial services provider’s stock worth $790,000 after purchasing an additional 345 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in shares of Essent Group by 1.3% in the third quarter. Wedge Capital Management L L P NC now owns 32,752 shares of the financial services provider’s stock worth $2,106,000 after buying an additional 406 shares in the last quarter. 93.00% of the stock is currently owned by institutional investors.

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.