Key Points
- Essent Group CEO Mark Casale sold 49,042 shares for about $3.49 million, reducing his direct ownership by 2.41%. The transaction was made under a pre-arranged Rule 10b5-1 plan; he retained nearly 1.99 million shares.
- Quarterly earnings per share of $1.82 missed the $1.85 consensus, while revenue of $374.18 million topped estimates of $344.17 million.
- Essent declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 2.1% yield at the article’s stated price.
Essent Group Ltd. (NYSE:ESNT - Get Free Report) CEO Mark Casale sold 49,042 shares of the company's stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $71.09, for a total value of $3,486,395.78. Following the completion of the transaction, the chief executive officer directly owned 1,989,851 shares in the company, valued at approximately $141,458,507.59. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Thursday, September 3rd, Mark Casale sold 798 shares of Essent Group stock. The shares were sold at an average price of $70.01, for a total transaction of $55,867.98.
- On Wednesday, August 19th, Mark Casale sold 21,607 shares of Essent Group stock. The shares were sold at an average price of $70.07, for a total transaction of $1,514,002.49.
- On Tuesday, August 18th, Mark Casale sold 20,246 shares of Essent Group stock. The stock was sold at an average price of $70.18, for a total transaction of $1,420,864.28.
Essent Group Price Performance
Shares of ESNT opened at $65.59 on Tuesday. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 1.74 and a beta of 0.71. The stock has a 50 day moving average of $65.51 and a 200-day moving average of $63.12. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.09. Essent Group Ltd. has a 52 week low of $55.34 and a 52 week high of $71.84.
Essent Group (NYSE:ESNT - Get Free Report) last released its earnings results on Friday, November 6th. The financial services provider reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.85 by ($0.03). Essent Group had a net margin of 51.45% and a return on equity of 11.91%. The business had revenue of $374.18 million for the quarter, compared to the consensus estimate of $344.17 million. During the same quarter in the previous year, the firm earned $1.67 EPS. As a group, analysts forecast that Essent Group Ltd. will post 7.58 EPS for the current year.
Essent Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, December 1st. This represents a $1.40 annualized dividend and a yield of 2.1%. Essent Group's dividend payout ratio is 19.13%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Essent Group from $68.00 to $75.00 and gave the stock a "sector perform" rating in a report on Monday, August 10th. BTIG Research started coverage on Essent Group in a report on Tuesday, September 22nd. They set a "hold" rating for the company. Keefe, Bruyette & Woods increased their price target on Essent Group from $74.00 to $78.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Barclays cut their price target on Essent Group from $66.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Roth Capital boosted their price objective on Essent Group from $65.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Essent Group has an average rating of "Hold" and a consensus target price of $70.62.
Read Our Latest Analysis on ESNT
Institutional Trading of Essent Group
Several hedge funds have recently bought and sold shares of ESNT. BlackRock Inc. acquired a new position in Essent Group during the 2nd quarter valued at about $798,836,000. Renaissancere Holdings Ltd. bought a new position in Essent Group in the 2nd quarter worth about $107,114,521. Principal Financial Group Inc. increased its stake in shares of Essent Group by 16.8% in the first quarter. Principal Financial Group Inc. now owns 914,471 shares of the financial services provider's stock valued at $53,442,000 after purchasing an additional 131,823 shares during the period. Deutsche Bank AG acquired a new stake in shares of Essent Group in the second quarter valued at approximately $43,068,000. Finally, Pictet Asset Management Holding SA increased its stake in shares of Essent Group by 18.3% in the third quarter. Pictet Asset Management Holding SA now owns 709,273 shares of the financial services provider's stock valued at $41,074,000 after purchasing an additional 109,494 shares during the period. 93.00% of the stock is currently owned by institutional investors.
Essent Group Company Profile
(
Get Free Report)
Essent Group is a Bermuda-based provider of mortgage insurance and reinsurance, operating primarily in the United States. Its services help mortgage lenders manage the credit risk associated with residential home loans.
Through its U.S. mortgage insurance subsidiary, Essent Guaranty, the company provides private mortgage insurance for eligible borrowers who make smaller down payments on conventional mortgages. The coverage can help lenders reduce potential losses if a borrower defaults.
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