Essent Group (NYSE:ESNT) Given New $72.00 Price Target at Keefe, Bruyette & Woods

Essent Group (NYSE:ESNT) had its price target dropped by equities researchers at Keefe, Bruyette & Woods from $75.00 to $72.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 33.26% from the company’s current price.

ESNT has been the subject of several other reports. Royal Bank of Canada cut their price target on shares of Essent Group from $73.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Barclays lowered Essent Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $69.00 to $58.00 in a research note on Monday. JPMorgan Chase & Co. decreased their target price on Essent Group from $67.00 to $60.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Finally, The Goldman Sachs Group lowered their price target on Essent Group from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.71.

Essent Group Stock Performance

NYSE ESNT traded down $0.16 on Wednesday, hitting $54.03. 41,991 shares of the stock traded hands, compared to its average volume of 486,352. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 2.60 and a beta of 1.11. The business’s fifty day moving average is $55.55 and its two-hundred day moving average is $59.27. Essent Group has a 12 month low of $50.65 and a 12 month high of $65.33.

Essent Group (NYSE:ESNT) last posted its earnings results on Friday, November 1st. The financial services provider reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.08). Essent Group had a return on equity of 13.81% and a net margin of 60.15%. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $316.80 million. During the same quarter in the previous year, the business earned $1.66 EPS. Essent Group’s revenue for the quarter was up 969.2% on a year-over-year basis. Analysts expect that Essent Group will post 6.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. UMB Bank n.a. grew its stake in Essent Group by 726.8% during the 3rd quarter. UMB Bank n.a. now owns 463 shares of the financial services provider’s stock worth $30,000 after buying an additional 407 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Essent Group during the third quarter valued at about $32,000. Quarry LP raised its position in shares of Essent Group by 167.1% in the 2nd quarter. Quarry LP now owns 836 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 523 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Essent Group in the 2nd quarter worth approximately $47,000. Finally, Advisors Asset Management Inc. grew its position in Essent Group by 53.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,362 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 477 shares during the last quarter. 93.00% of the stock is currently owned by hedge funds and other institutional investors.

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.