Essent Group (NYSE:ESNT) PT Raised to $68.00 at JPMorgan Chase & Co.

by · The Cerbat Gem

Essent Group (NYSE:ESNT – Get Free Report) had its target price raised by stock analysts at JPMorgan Chase & Co. from $63.00 to $68.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 7.66% from the company’s current price.

Other equities analysts have also issued research reports about the company. BTIG Research raised their price objective on Essent Group from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Barclays raised their price objective on Essent Group from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods upgraded Essent Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $65.00 to $70.00 in a research note on Monday, August 5th. Finally, Royal Bank of Canada raised their price objective on Essent Group from $61.00 to $67.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Essent Group currently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Check Out Our Latest Research Report on ESNT

Essent Group Trading Up 0.6 %

NYSE:ESNT opened at $63.16 on Monday. The stock has a market cap of $6.74 billion, a P/E ratio of 9.56, a PEG ratio of 1.59 and a beta of 1.12. The stock has a 50 day simple moving average of $62.36 and a 200 day simple moving average of $58.61. Essent Group has a 1-year low of $45.63 and a 1-year high of $65.33.

Essent Group (NYSE:ESNT – Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The financial services provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.23. Essent Group had a return on equity of 14.40% and a net margin of 61.31%. The firm had revenue of $272.90 million for the quarter, compared to analyst estimates of $308.33 million. During the same quarter last year, the company earned $1.61 EPS. The company’s revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that Essent Group will post 7.02 EPS for the current year.

Insider Activity

In other news, SVP Vijay Bhasin sold 11,188 shares of Essent Group stock in a transaction 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 transaction, the senior vice president now owns 199,359 shares in the company, valued at approximately $11,989,450.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Vijay Bhasin sold 11,188 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $60.14, for a total transaction of $672,846.32. Following the sale, the senior vice president now owns 199,359 shares in the company, valued at $11,989,450.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David B. Weinstock sold 2,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total value of $127,180.00. Following the sale, the chief financial officer now owns 25,416 shares in the company, valued at $1,616,203.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,188 shares of company stock worth $1,094,076. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Essent Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GHP Investment Advisors Inc. lifted its holdings in Essent Group by 0.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 50,569 shares of the financial services provider’s stock worth $2,841,000 after buying an additional 203 shares during the period. Inspire Investing LLC lifted its holdings in Essent Group by 3.6% during the 2nd quarter. Inspire Investing LLC now owns 6,241 shares of the financial services provider’s stock worth $351,000 after buying an additional 215 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Essent Group by 2.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,297 shares of the financial services provider’s stock worth $613,000 after buying an additional 287 shares during the period. Provident Investment Management Inc. lifted its holdings in Essent Group by 2.5% during the 2nd quarter. Provident Investment Management Inc. now owns 14,060 shares of the financial services provider’s stock worth $790,000 after buying an additional 345 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Essent Group by 49.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,187 shares of the financial services provider’s stock worth $67,000 after buying an additional 394 shares during the period. Institutional investors own 93.00% of the company’s stock.

About Essent Group

(Get Free Report)

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.

Recommended Stories