Essent Group (NYSE:ESNT) Downgraded to Sell at ValuEngine

ValuEngine cut shares of Essent Group (NYSE:ESNT) from a hold rating to a sell rating in a report released on Thursday morning, ValuEngine reports.

Separately, Zacks Investment Research raised shares of Essent Group from a sell rating to a hold rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Essent Group presently has a consensus rating of Hold and an average target price of $49.60.

Essent Group stock traded up $0.37 during mid-day trading on Thursday, reaching $45.75. 1,528,854 shares of the company traded hands, compared to its average volume of 533,115. The stock’s 50 day moving average price is $47.62. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30. Essent Group has a 52-week low of $31.08 and a 52-week high of $50.51.

Essent Group (NYSE:ESNT) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.09. The business had revenue of $211.89 million for the quarter. Essent Group had a net margin of 64.33% and a return on equity of 21.36%. Equities research analysts expect that Essent Group will post 5.29 EPS for the current fiscal year.

In other news, VP David B. Weinstock sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $47.87, for a total value of $95,740.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph Hissong sold 19,886 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $48.34, for a total transaction of $961,289.24. Following the completion of the sale, the insider now directly owns 57,519 shares in the company, valued at $2,780,468.46. The disclosure for this sale can be found here. Insiders sold a total of 31,849 shares of company stock worth $1,555,279 over the last ninety days. Insiders own 2.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Advisor Group Inc. grew its position in shares of Essent Group by 34.7% in the 4th quarter. Advisor Group Inc. now owns 1,145 shares of the financial services provider’s stock worth $39,000 after buying an additional 295 shares during the period. NEXT Financial Group Inc boosted its stake in Essent Group by 96.0% in the 2nd quarter. NEXT Financial Group Inc now owns 1,470 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 720 shares in the last quarter. Group One Trading L.P. bought a new position in Essent Group in the 1st quarter worth about $119,000. Carroll Financial Associates Inc. bought a new position in Essent Group in the 2nd quarter worth about $146,000. Finally, Telemus Capital LLC bought a new position in Essent Group in the 1st quarter worth about $204,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

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. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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