Key Points
- Insider sale: Essent Group SVP Vijay Bhasin sold 483 shares for $33,810 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 0.24% while retaining 198,449 shares.
- Financial and dividend update: Shares opened at $69.53, near their 52-week high of $70.00. Essent reported quarterly EPS of $2.08 on $362.69 million in revenue and declared a $0.35 quarterly dividend, yielding about 2.0% annually.
- Analyst sentiment remains neutral: Several firms raised their price targets, but the consensus rating is still “Hold,” with an average target price of $71.86.
Essent Group Ltd. (NYSE:ESNT - Get Free Report) SVP Vijay Bhasin sold 483 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $70.00, for a total value of $33,810.00. Following the completion of the transaction, the senior vice president directly owned 198,449 shares of the company's stock, valued at $13,891,430. This trade represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Essent Group Stock Up 0.4%
Shares of Essent Group stock opened at $69.53 on Friday. The business's fifty day moving average price is $63.96 and its two-hundred day moving average price is $61.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.18 and a quick ratio of 1.32. The company has a market capitalization of $6.25 billion, a P/E ratio of 9.70, a PEG ratio of 1.79 and a beta of 0.76. Essent Group Ltd. has a 1-year low of $55.34 and a 1-year high of $70.00.
Essent Group (NYSE:ESNT - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter. Essent Group had a return on equity of 11.91% and a net margin of 51.45%.The company had revenue of $362.69 million during the quarter. As a group, research analysts forecast that Essent Group Ltd. will post 7.42 EPS for the current year.
Essent Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.40 annualized dividend and a yield of 2.0%. Essent Group's dividend payout ratio is presently 19.53%.
Hedge Funds Weigh In On Essent Group
Large investors have recently made changes to their positions in the business. Sivia Capital Partners LLC acquired a new stake in Essent Group during the second quarter valued at approximately $346,000. M&T Bank Corp acquired a new position in Essent Group in the second quarter worth approximately $239,000. EverSource Wealth Advisors LLC grew its position in Essent Group by 160.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,080 shares of the financial services provider's stock worth $126,000 after buying an additional 1,280 shares during the last quarter. Baird Financial Group Inc. bought a new position in shares of Essent Group in the second quarter valued at $211,000. Finally, Jump Financial LLC acquired a new stake in shares of Essent Group during the 2nd quarter valued at $224,000. Institutional investors own 93.00% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have commented on ESNT. Barclays raised their target price on shares of Essent Group from $62.00 to $65.00 and gave the company an "equal weight" rating in a research note on Monday, August 10th. Roth Capital increased their price objective on shares of Essent Group from $65.00 to $80.00 and gave the company a "buy" rating in a report on Monday. Weiss Ratings upgraded shares of Essent Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. upped their target price on Essent Group from $65.00 to $72.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Finally, Royal Bank Of Canada increased their price target on Essent Group from $68.00 to $75.00 and gave the company a "sector perform" rating in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Essent Group currently has a consensus rating of "Hold" and a consensus target price of $71.86.
View Our Latest Report on Essent Group
About Essent Group
(
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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