Essent Group Ltd. (NYSE:ESNT) SVP Vijay Bhasin sold 10,000 shares of Essent Group stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $32.02, for a total value of $320,200.00. Following the transaction, the senior vice president now directly owns 325,362 shares of the company’s stock, valued at $10,418,091.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Essent Group Ltd. (NYSE:ESNT) traded up 0.46% during mid-day trading on Thursday, reaching $32.63. The company had a trading volume of 248,136 shares. The firm’s 50-day moving average price is $32.34 and its 200 day moving average price is $27.82. Essent Group Ltd. has a 52-week low of $16.49 and a 52-week high of $33.94. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 14.63 and a beta of 1.18.
Essent Group (NYSE:ESNT) last released its earnings results on Friday, November 4th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The firm earned $121.25 million during the quarter, compared to the consensus estimate of $112.13 million. Essent Group had a return on equity of 16.76% and a net margin of 47.60%. The company’s revenue was up 32.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS. Equities analysts expect that Essent Group Ltd. will post $2.36 EPS for the current year.
A number of research analysts have issued reports on the company. Barclays PLC set a $40.00 price objective on Essent Group and gave the company a “buy” rating in a report on Sunday, January 8th. BTIG Research lowered Essent Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 6th. Zacks Investment Research lowered Essent Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 9th. Finally, Bank of America Corp. lowered Essent Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $27.94.
Several hedge funds have recently added to or reduced their stakes in ESNT. Fuller & Thaler Asset Management Inc. bought a new stake in Essent Group during the third quarter worth $122,000. Acrospire Investment Management LLC increased its stake in Essent Group by 200.0% in the second quarter. Acrospire Investment Management LLC now owns 4,800 shares of the company’s stock worth $105,000 after buying an additional 3,200 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Essent Group by 98.4% in the third quarter. BNP Paribas Arbitrage SA now owns 6,542 shares of the company’s stock worth $174,000 after buying an additional 3,245 shares during the last quarter. Amalgamated Bank bought a new stake in Essent Group during the second quarter worth $204,000. Finally, Stanley Laman Group Ltd. bought a new stake in Essent Group during the third quarter worth $238,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.
Essent Group Company Profile
Essent Group Ltd. is a private mortgage insurance company. The Company is engaged in serving the United States housing finance industry. It offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The primary mortgage insurance operations are conducted through Essent Guaranty, Inc (Essent Guaranty), a subsidiary of the company, which maintains operations centers and operates additional underwriting and service centers in Winston-Salem, North Carolina and Irvine, California.