Essent Group (NYSE:ESNT) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Essent Group (NYSE:ESNT) posted its earnings results on Friday. The financial services provider reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.09, Bloomberg Earnings reports. The business had revenue of $211.89 million during the quarter. Essent Group had a return on equity of 21.36% and a net margin of 64.33%.

ESNT traded up $0.37 during trading on Friday, hitting $45.75. The company’s stock had a trading volume of 1,528,854 shares, compared to its average volume of 578,996. The company’s 50 day moving average price is $47.62. Essent Group has a 12 month low of $31.08 and a 12 month high of $50.51. The company has a market capitalization of $4.46 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 0.86 and a beta of 1.30.

Several equities analysts recently commented on ESNT shares. BTIG Research restated a “buy” rating and set a $54.00 target price on shares of Essent Group in a research report on Sunday. Zacks Investment Research upgraded Essent Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, ValuEngine downgraded Essent Group from a “hold” rating to a “sell” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $50.33.

In other Essent Group news, insider Joseph Hissong sold 19,886 shares of Essent Group stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $48.34, for a total value of $961,289.24. Following the completion of the transaction, the insider now owns 57,519 shares in the company, valued at approximately $2,780,468.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Lawrence E. Mcalee, Jr. sold 9,963 shares of Essent Group stock in a transaction on Monday, June 10th. The shares were sold at an average price of $50.01, for a total value of $498,249.63. Following the completion of the transaction, the chief financial officer now owns 217,241 shares of the company’s stock, valued at approximately $10,864,222.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,849 shares of company stock valued at $1,555,279. Corporate insiders own 2.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its position in Essent Group by 1.8% in the 4th quarter. FMR LLC now owns 8,798,551 shares of the financial services provider’s stock valued at $300,735,000 after purchasing an additional 159,702 shares during the last quarter. BlackRock Inc. increased its stake in shares of Essent Group by 0.3% in the 1st quarter. BlackRock Inc. now owns 7,828,599 shares of the financial services provider’s stock valued at $340,153,000 after buying an additional 27,129 shares during the period. Boston Partners increased its stake in shares of Essent Group by 2.2% in the 1st quarter. Boston Partners now owns 1,578,014 shares of the financial services provider’s stock valued at $68,565,000 after buying an additional 34,160 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of Essent Group by 36.4% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,465,102 shares of the financial services provider’s stock valued at $63,659,000 after buying an additional 391,050 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Essent Group by 8.5% in the 4th quarter. Geode Capital Management LLC now owns 1,343,164 shares of the financial services provider’s stock valued at $45,909,000 after buying an additional 104,923 shares during the period. Hedge funds and other institutional investors own 90.28% 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. The company also provides information technology maintenance and development services; customer support-related services; and contract underwriting services.

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Earnings History for Essent Group (NYSE:ESNT)

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