Essent Group Ltd. (NYSE:ESNT) Receives $64.71 Consensus Target Price from Brokerages

Shares of Essent Group Ltd. (NYSE:ESNT - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the seven research firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $64.71.

Several research firms recently weighed in on ESNT. Keefe, Bruyette & Woods upped their price target on Essent Group from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. The Goldman Sachs Group reduced their price target on Essent Group from $68.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. lowered their price target on Essent Group from $67.00 to $60.00 and set a "neutral" rating for the company in a research report on Monday, December 9th. Barclays reduced their price objective on shares of Essent Group from $72.00 to $69.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. Finally, Royal Bank of Canada dropped their target price on shares of Essent Group from $73.00 to $67.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th.

Essent Group Trading Up 0.6 %

Essent Group stock traded up $0.31 on Tuesday, hitting $54.44. 500,785 shares of the stock traded hands, compared to its average volume of 544,446. Essent Group has a 1 year low of $50.65 and a 1 year high of $65.33. The firm has a market cap of $5.78 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 2.60 and a beta of 1.09. The business's fifty day simple moving average is $56.23 and its 200 day simple moving average is $59.33.

Essent Group (NYSE:ESNT - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.73 by ($0.08). The business had revenue of $3.17 billion for the quarter, compared to analysts' expectations of $316.80 million. Essent Group had a net margin of 60.15% and a return on equity of 13.81%. The company's revenue was up 969.2% on a year-over-year basis. During the same period last year, the business earned $1.66 earnings per share. As a group, analysts predict that Essent Group will post 6.94 earnings per share for the current year.

Essent Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, December 2nd were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Monday, December 2nd. Essent Group's dividend payout ratio (DPR) is presently 16.23%.

Hedge Funds Weigh In On Essent Group

Several institutional investors have recently made changes to their positions in the business. UMB Bank n.a. raised its position in Essent Group by 726.8% in the third quarter. UMB Bank n.a. now owns 463 shares of the financial services provider's stock worth $30,000 after acquiring an additional 407 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Essent Group during the third quarter valued at about $32,000. Quarry LP increased its position in Essent Group by 167.1% in the second quarter. Quarry LP now owns 836 shares of the financial services provider's stock worth $47,000 after buying an additional 523 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Essent Group in the second quarter worth about $47,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Essent Group by 53.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider's stock valued at $88,000 after buying an additional 477 shares in the last quarter. Institutional investors own 93.00% of the company's stock.

Essent Group Company Profile

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its mortgage insurance products include primary, pool, and master policy. The company also provides information technology maintenance and development services; customer support-related services; underwriting consulting; and contract underwriting services, as well as risk management products and title insurance and settlement services.