Essent Group (ESNT) Price Target Raised to $59.00 at Royal Bank of Canada

Essent Group (NYSE:ESNT) had its target price lifted by Royal Bank of Canada to $59.00 in a research note issued to investors on Monday morning. The firm currently has an outperform rating on the financial services provider’s stock.

ESNT has been the topic of several other reports. Deutsche Bank cut shares of Essent Group from a buy rating to a hold rating and set a $49.00 target price on the stock. in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of Essent Group from a sell rating to a hold rating in a research report on Monday, November 13th. BTIG Research upped their target price on shares of Essent Group from $49.00 to $54.00 and gave the company a buy rating in a research report on Wednesday, December 20th. ValuEngine cut shares of Essent Group from a strong-buy rating to a buy rating in a research report on Friday, December 1st. Finally, Barclays upped their target price on shares of Essent Group from $45.00 to $46.00 and gave the company an overweight rating in a research report on Friday, November 10th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $52.52.

Shares of Essent Group (ESNT) opened at $47.46 on Monday. The stock has a market cap of $4,499.42, a PE ratio of 14.74, a PEG ratio of 1.05 and a beta of 1.15. Essent Group has a 1 year low of $33.45 and a 1 year high of $50.08.

Essent Group (NYSE:ESNT) last announced its earnings results on Friday, February 9th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01. The firm had revenue of $161.77 million for the quarter, compared to analysts’ expectations of $155.22 million. Essent Group had a net margin of 65.87% and a return on equity of 18.84%. The business’s revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. analysts forecast that Essent Group will post 4.34 EPS for the current year.

In related news, Director Andrew Turnbull sold 15,813 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $45.62, for a total value of $721,389.06. Following the sale, the director now directly owns 45,409 shares of the company’s stock, valued at approximately $2,071,558.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Casale sold 370,673 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.50, for a total transaction of $16,494,948.50. Following the completion of the sale, the chief executive officer now directly owns 1,845,356 shares in the company, valued at $82,118,342. The disclosure for this sale can be found here. Insiders sold a total of 401,686 shares of company stock worth $17,906,354 over the last three months. 18.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of ESNT. Fortaleza Asset Management Inc. purchased a new position in shares of Essent Group during the third quarter worth approximately $112,000. Telemus Capital LLC purchased a new position in shares of Essent Group during the fourth quarter worth approximately $204,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Essent Group by 50.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,735 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 1,590 shares during the period. Trust Co. of Toledo NA OH purchased a new position in shares of Essent Group during the fourth quarter worth approximately $208,000. Finally, Jefferies Group LLC purchased a new position in shares of Essent Group during the fourth quarter worth approximately $209,000. 86.19% of the stock is currently owned by institutional investors.

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Essent Group Company Profile

Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in offering private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its products and services include mortgage insurance, contract underwriting, and Bermuda-based insurance and reinsurance.

Analyst Recommendations for Essent Group (NYSE:ESNT)

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