Essent Group (NYSE:ESNT – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.
Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $59.00 price target on shares of Essent Group in a report on Monday, September 25th. Barclays started coverage on Essent Group in a research report on Wednesday, November 15th. They set an “overweight” rating and a $60.00 price target on the stock. Finally, UBS Group started coverage on Essent Group in a research report on Wednesday, December 6th. They set a “neutral” rating and a $54.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Essent Group currently has a consensus rating of “Moderate Buy” and an average price target of $56.38.
Essent Group Stock Up 1.2 %
ESNT opened at $53.12 on Thursday. The stock’s fifty day moving average is $50.30 and its two-hundred day moving average is $49.34. The company has a market capitalization of $5.67 billion, a P/E ratio of 8.53, a PEG ratio of 0.80 and a beta of 1.09. Essent Group has a 52 week low of $36.53 and a 52 week high of $53.91.
Essent Group (NYSE:ESNT – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.57 by $0.09. The company had revenue of $296.11 million for the quarter, compared to the consensus estimate of $262.26 million. Essent Group had a return on equity of 14.33% and a net margin of 64.11%. Equities analysts anticipate that Essent Group will post 6.45 earnings per share for the current year.
Institutional Investors Weigh In On Essent Group
Several hedge funds and other institutional investors have recently made changes to their positions in ESNT. Diversified Trust Co purchased a new position in Essent Group in the fourth quarter worth approximately $381,000. Teachers Retirement System of The State of Kentucky grew its position in Essent Group by 93.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 36,698 shares of the financial services provider’s stock worth $1,735,000 after acquiring an additional 17,689 shares during the period. Deutsche Bank AG boosted its position in shares of Essent Group by 5.4% during the third quarter. Deutsche Bank AG now owns 225,664 shares of the financial services provider’s stock worth $10,672,000 after buying an additional 11,599 shares during the period. Graham Capital Management L.P. purchased a new position in shares of Essent Group during the third quarter worth $275,000. Finally, Tudor Investment Corp Et Al boosted its position in shares of Essent Group by 63.1% during the third quarter. Tudor Investment Corp Et Al now owns 155,457 shares of the financial services provider’s stock worth $7,352,000 after buying an additional 60,149 shares during the period. Institutional investors and hedge funds own 91.77% of the company’s stock.
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.