Essent Group (NYSE:ESNT) Reaches New 52-Week High at $64.05

Essent Group Ltd. (NYSE:ESNT - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $64.05 and last traded at $63.97, with a volume of 89171 shares traded. The stock had previously closed at $63.49.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods upgraded Essent Group from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $65.00 to $70.00 in a research note on Monday, August 5th. BTIG Research raised their price objective on shares of Essent Group from $61.00 to $64.00 and gave the company a "buy" rating in a research note on Monday, August 5th. UBS Group increased their target price on shares of Essent Group from $57.00 to $58.00 and gave the company a "neutral" rating in a report on Wednesday, May 22nd. Royal Bank of Canada boosted their price target on Essent Group from $61.00 to $67.00 and gave the stock an "outperform" rating in a research note on Monday, August 5th. Finally, Barclays boosted their target price on Essent Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $64.33.

Essent Group Price Performance

The stock's 50-day moving average is $59.38 and its 200-day moving average is $56.69. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 1.44 and a beta of 1.11.

Essent Group (NYSE:ESNT - Get Free Report) last released its earnings results on Friday, August 2nd. The financial services provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.23. The firm had revenue of $272.90 million for the quarter, compared to the consensus estimate of $308.33 million. Essent Group had a return on equity of 14.24% and a net margin of 61.40%. The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.61 earnings per share. Analysts predict that Essent Group Ltd. will post 6.69 EPS for the current fiscal year.

Essent Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Friday, August 30th. Essent Group's dividend payout ratio is currently 16.94%.

Insider Activity at Essent Group

In related news, Director Roy James Kasmar sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $58.81, for a total value of $294,050.00. Following the transaction, the director now owns 27,140 shares in the company, valued at $1,596,103.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Essent Group news, SVP Vijay Bhasin sold 11,188 shares of the company's stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $60.14, for a total value of $672,846.32. Following the completion of the transaction, the senior vice president now owns 199,359 shares in the company, valued at approximately $11,989,450.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Roy James Kasmar sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $58.81, for a total transaction of $294,050.00. Following the completion of the sale, the director now directly owns 27,140 shares of the company's stock, valued at approximately $1,596,103.40. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Essent Group

Large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new stake in shares of Essent Group in the first quarter worth $32,000. GAMMA Investing LLC acquired a new stake in shares of Essent Group in the 4th quarter valued at about $37,000. Quarry LP lifted its position in shares of Essent Group by 167.1% during the second quarter. Quarry LP now owns 836 shares of the financial services provider's stock worth $47,000 after purchasing an additional 523 shares during the last quarter. Headlands Technologies LLC acquired a new position in Essent Group in the second quarter worth about $47,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Essent Group in the second quarter valued at about $176,000. 93.00% of the stock is owned by institutional investors and hedge funds.

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.