Essent Group Ltd. (NYSE:ESNT) Receives $62.57 Average Target Price from Analysts

Essent Group Ltd. (NYSE:ESNT) has received an average rating of “Hold” from the seven research firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $62.57.

Several research analysts have weighed in on the company. Barclays lowered Essent Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $69.00 to $58.00 in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Royal Bank of Canada restated an “outperform” rating and issued a $67.00 price target on shares of Essent Group in a report on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods cut their price target on Essent Group from $72.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, February 18th.

Essent Group Stock Performance

NYSE ESNT opened at $55.51 on Friday. The stock has a fifty day moving average of $56.88 and a 200-day moving average of $58.13. The stock has a market capitalization of $5.76 billion, a P/E ratio of 8.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Essent Group has a 52 week low of $52.22 and a 52 week high of $65.34.

Essent Group (NYSE:ESNT) last announced its quarterly earnings data on Friday, February 14th. The financial services provider reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.09). The company had revenue of $315.00 million for the quarter, compared to analyst estimates of $313.88 million. Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $1.64 earnings per share. Equities research analysts forecast that Essent Group will post 6.88 earnings per share for the current fiscal year.

Essent Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 14th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Essent Group’s previous quarterly dividend of $0.28. Essent Group’s dividend payout ratio is presently 18.13%.

Institutional Trading of Essent Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mainstream Capital Management LLC acquired a new position in Essent Group during the fourth quarter worth approximately $25,000. Picton Mahoney Asset Management increased its position in Essent Group by 68.8% during the fourth quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider’s stock worth $32,000 after buying an additional 238 shares during the last quarter. US Bancorp DE increased its position in Essent Group by 53.3% during the fourth quarter. US Bancorp DE now owns 1,125 shares of the financial services provider’s stock worth $61,000 after buying an additional 391 shares during the last quarter. R Squared Ltd acquired a new position in Essent Group during the fourth quarter worth approximately $63,000. Finally, Advisors Asset Management Inc. increased its position in Essent Group by 53.9% during the third quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider’s stock worth $88,000 after buying an additional 477 shares during 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.