Essent Group (NYSE:ESNT) CFO Sells 5,500 Shares of Stock

Key Points

  • Essent Group CFO David Weinstock sold 5,500 shares on June 26 at an average price of $63.51, totaling about $349,305. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
  • The company reported stronger-than-expected quarterly results, posting EPS of $1.82 versus the $1.68 estimate and revenue of $336.07 million versus expectations of $297.56 million. Revenue rose 5.8% year over year.
  • Essent Group also paid a quarterly dividend of $0.35 per share, equal to an annualized yield of 2.2%. Analysts currently have a consensus rating of “Hold” with an average price target of $66.57.

Essent Group Ltd. (NYSE:ESNT - Get Free Report) CFO David Weinstock sold 5,500 shares of Essent Group stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $63.51, for a total value of $349,305.00. Following the completion of the transaction, the chief financial officer directly owned 35,494 shares in the company, valued at $2,254,223.94. This trade represents a 13.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Essent Group Stock Performance

Shares of ESNT stock opened at $64.28 on Wednesday. The company has a market capitalization of $5.92 billion, a P/E ratio of 9.16, a PEG ratio of 1.80 and a beta of 0.78. Essent Group Ltd. has a fifty-two week low of $55.22 and a fifty-two week high of $67.09. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a 50 day moving average price of $60.52 and a two-hundred day moving average price of $61.31.

Essent Group (NYSE:ESNT - Get Free Report) last issued its earnings results on Friday, May 8th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.14. Essent Group had a net margin of 53.64% and a return on equity of 12.01%. The firm had revenue of $336.07 million for the quarter, compared to analysts' expectations of $297.56 million. During the same quarter last year, the business earned $1.69 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. Analysts expect that Essent Group Ltd. will post 7.25 earnings per share for the current year.

Essent Group Announces Dividend




The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.40 annualized dividend and a yield of 2.2%. Essent Group's dividend payout ratio is presently 19.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ESNT shares. Keefe, Bruyette & Woods boosted their price objective on shares of Essent Group from $73.00 to $74.00 and gave the company an "outperform" rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. dropped their target price on shares of Essent Group from $65.00 to $64.00 and set a "neutral" rating for the company in a report on Thursday, April 9th. Royal Bank Of Canada assumed coverage on Essent Group in a research note on Friday, May 22nd. They issued a "sector perform" rating and a $68.00 target price on the stock. Roth Mkm restated a "buy" rating and set a $65.00 price target on shares of Essent Group in a report on Wednesday, June 3rd. Finally, Weiss Ratings raised Essent Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 23rd. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Essent Group has a consensus rating of "Hold" and an average price target of $66.57.

Get Our Latest Report on Essent Group

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ESNT. Vanguard Group Inc. boosted its holdings in Essent Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 11,987,945 shares of the financial services provider's stock worth $779,336,000 after acquiring an additional 85,295 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Essent Group by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 3,076,950 shares of the financial services provider's stock valued at $206,628,000 after acquiring an additional 129,672 shares in the last quarter. Norges Bank purchased a new position in shares of Essent Group in the 4th quarter worth about $155,516,000. Cooke & Bieler LP raised its position in shares of Essent Group by 0.7% in the 4th quarter. Cooke & Bieler LP now owns 1,952,006 shares of the financial services provider's stock worth $126,900,000 after purchasing an additional 13,318 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Essent Group by 43.7% in the 4th quarter. AQR Capital Management LLC now owns 1,864,067 shares of the financial services provider's stock worth $121,183,000 after purchasing an additional 567,103 shares during the last quarter. Hedge funds and other institutional investors own 93.00% of the company's stock.

Essent Group Company Profile

(Get Free Report)

Essent Group Ltd. (NYSE: ESNT) is a publicly traded insurance holding company specializing in private mortgage insurance and mortgage reinsurance solutions. Through its primary subsidiary, Essent Guaranty, the company provides credit protection to mortgage lenders, helping mitigate the risk of borrower default on residential mortgage loans. Essent's insurance policies enable lenders to offer low-down-payment programs, supporting homebuyers in achieving homeownership with reduced upfront equity requirements.

Beyond traditional mortgage insurance, Essent offers a suite of risk management and analytics services designed to help financial institutions monitor and manage mortgage portfolios.

Further Reading

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