Key Points
- CEO Mark Casale sold 3,763 Essent Group shares on June 30 at an average price of $65.01, totaling about $244,633. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Essent Group reported stronger-than-expected quarterly results, with earnings of $1.82 per share versus the $1.68 analyst estimate and revenue of $336.07 million, up 5.8% year over year.
- The company also paid a quarterly dividend of $0.35 per share, equal to a $1.40 annualized payout and a 2.2% yield. Analysts currently have a consensus Hold rating on the stock with a target price of $66.57.
Essent Group Ltd. (NYSE:ESNT - Get Free Report) CEO Mark Casale sold 3,763 shares of Essent Group stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $65.01, for a total transaction of $244,632.63. Following the completion of the sale, the chief executive officer directly owned 2,214,717 shares in the company, valued at approximately $143,978,752.17. The trade was a 0.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mark Casale also recently made the following trade(s):
- On Tuesday, April 28th, Mark Casale sold 13,064 shares of Essent Group stock. The stock was sold at an average price of $65.05, for a total transaction of $849,813.20.
Essent Group Trading Up 0.4%
NYSE ESNT opened at $64.80 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $5.97 billion, a P/E ratio of 9.23, a P/E/G ratio of 1.79 and a beta of 0.76. Essent Group Ltd. has a 52-week low of $55.22 and a 52-week high of $67.09. The firm has a 50-day moving average price of $60.59 and a 200 day moving average price of $61.31.
Essent Group (NYSE:ESNT - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The financial services provider reported $1.82 earnings per share for the quarter, beating analysts' consensus estimates of $1.68 by $0.14. Essent Group had a return on equity of 12.01% and a net margin of 53.64%.The company had revenue of $336.07 million for the quarter, compared to analyst estimates of $297.56 million. During the same quarter in the previous year, the company earned $1.69 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts expect that Essent Group Ltd. will post 7.25 EPS for the current year.
Essent Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were paid a $0.35 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. Essent Group's payout ratio is 19.94%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on ESNT. Roth Mkm reaffirmed a "buy" rating and set a $65.00 price objective on shares of Essent Group in a report on Wednesday, June 3rd. JPMorgan Chase & Co. decreased their target price on shares of Essent Group from $65.00 to $64.00 and set a "neutral" rating on the stock in a research report on Thursday, April 9th. Weiss Ratings raised shares of Essent Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 23rd. UBS Group cut their price target on shares of Essent Group from $65.00 to $63.00 and set a "neutral" rating for the company in a report on Thursday, March 12th. Finally, Royal Bank Of Canada assumed coverage on shares of Essent Group in a research note on Friday, May 22nd. They issued a "sector perform" rating and a $68.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $66.57.
Read Our Latest Stock Report on Essent Group
Institutional Trading of Essent Group
A number of institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Essent Group in the third quarter valued at $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Essent Group during the 3rd quarter worth $27,000. Los Angeles Capital Management LLC purchased a new stake in shares of Essent Group in the 4th quarter worth about $27,000. IFP Advisors Inc boosted its position in shares of Essent Group by 97.1% in the 4th quarter. IFP Advisors Inc now owns 676 shares of the financial services provider's stock worth $44,000 after buying an additional 333 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Essent Group by 790.6% in the 2nd quarter. Versant Capital Management Inc now owns 757 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 672 shares during the last quarter. 93.00% of the stock is currently owned by hedge funds and other institutional investors.
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.
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