Essent Group Ltd. (NYSE:ESNT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Essent Group Ltd. (NYSE:ESNT) have been given a consensus rating of “Moderate Buy” by the seven analysts that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $61.71.

A number of research analysts have recently commented on ESNT shares. JPMorgan Chase & Co. upgraded Essent Group from a “neutral” rating to an “overweight” rating and set a $60.00 price target for the company in a report on Tuesday, April 8th. The Goldman Sachs Group restated a “neutral” rating on shares of Essent Group in a research report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Essent Group in a research report on Friday. BTIG Research reissued a “buy” rating on shares of Essent Group in a research report on Friday. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Essent Group in a report on Friday.

Hedge Funds Weigh In On Essent Group

Several hedge funds and other institutional investors have recently modified their holdings of ESNT. Mainstream Capital Management LLC bought a new position in shares of Essent Group during the fourth quarter valued at $25,000. AdvisorNet Financial Inc bought a new position in Essent Group during the 1st quarter valued at about $25,000. Picton Mahoney Asset Management boosted its position in Essent Group by 68.8% in the fourth quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider’s stock valued at $32,000 after buying an additional 238 shares in the last quarter. US Bancorp DE grew its stake 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. Finally, R Squared Ltd bought a new stake in Essent Group during the fourth quarter worth about $63,000. Institutional investors own 93.00% of the company’s stock.

Essent Group Trading Down 0.3%

NYSE ESNT opened at $58.53 on Monday. Essent Group has a 1 year low of $51.61 and a 1 year high of $65.34. The company has a fifty day simple moving average of $56.00 and a 200 day simple moving average of $56.30. The company has a market cap of $6.08 billion, a P/E ratio of 8.56, a P/E/G ratio of 2.70 and a beta of 0.87.

Essent Group (NYSE:ESNT) last issued its quarterly earnings results on Friday, May 9th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The company had revenue of $317.56 million for the quarter, compared to the consensus estimate of $311.18 million. During the same period last year, the business posted $1.70 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts forecast that Essent Group will post 6.88 EPS for the current fiscal year.

Essent Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 14th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.12%. This is an increase from Essent Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 14th. Essent Group’s payout ratio is presently 18.13%.

About Essent Group

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.