Essent Group (NYSE:ESNT) Given New $67.00 Price Target at JPMorgan Chase & Co.

Essent Group (NYSE:ESNT) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $68.00 to $67.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 22.51% from the stock’s current price.

Several other brokerages have also commented on ESNT. BTIG Research increased their price objective on Essent Group from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, August 5th. Royal Bank of Canada raised their price target on Essent Group from $61.00 to $67.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods upgraded shares of Essent Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $65.00 to $70.00 in a report on Monday, August 5th. Finally, Barclays lowered their target price on shares of Essent Group from $72.00 to $69.00 and set an “overweight” rating for the company in a research note on Monday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Essent Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.83.

Essent Group Stock Up 1.7 %

Shares of NYSE ESNT traded up $0.92 during mid-day trading on Monday, reaching $54.69. 80,291 shares of the company were exchanged, compared to its average volume of 500,242. The firm has a 50-day moving average of $62.94 and a 200 day moving average of $59.35. Essent Group has a 1 year low of $47.56 and a 1 year high of $65.33. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 1.48 and a beta of 1.12.

Essent Group (NYSE:ESNT) last released its quarterly earnings results on Friday, November 1st. The financial services provider reported $1.65 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.05). The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $316.80 million. Essent Group had a net margin of 61.31% and a return on equity of 14.40%. The business’s quarterly revenue was up 969.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 earnings per share. On average, equities analysts forecast that Essent Group will post 7.02 earnings per share for the current year.

Insider Activity at Essent Group

In other Essent Group news, CFO David B. Weinstock sold 2,000 shares of Essent Group stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $63.59, for a total transaction of $127,180.00. Following the completion of the transaction, the chief financial officer now owns 25,416 shares in the company, valued at approximately $1,616,203.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO David B. Weinstock sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $63.59, for a total transaction of $127,180.00. Following the sale, the chief financial officer now owns 25,416 shares in the company, valued at approximately $1,616,203.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roy James Kasmar sold 5,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $58.81, for a total transaction of $294,050.00. Following the sale, the director now directly owns 27,140 shares in the company, valued at approximately $1,596,103.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Essent Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co acquired a new position in Essent Group during the second quarter worth $725,000. Price T Rowe Associates Inc. MD boosted its holdings in Essent Group by 38.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 177,127 shares of the financial services provider’s stock valued at $10,542,000 after purchasing an additional 49,393 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Essent Group in the 1st quarter valued at approximately $780,000. Empowered Funds LLC acquired a new stake in shares of Essent Group during the 1st quarter worth approximately $977,000. Finally, Vanguard Group Inc. raised its position in shares of Essent Group by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 11,917,819 shares of the financial services provider’s stock valued at $709,229,000 after buying an additional 440,385 shares during the period. Institutional investors and hedge funds 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.