Essent Group (NYSE:ESNT) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Essent Group (NYSE:ESNTGet Free Report) posted its quarterly earnings data on Friday. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.05, MarketWatch Earnings reports. The firm had revenue of $297.30 million for the quarter, compared to the consensus estimate of $286.18 million. Essent Group had a return on equity of 14.33% and a net margin of 64.11%. The business’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS.

Essent Group Price Performance

Shares of ESNT opened at $51.75 on Friday. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 7.96, a P/E/G ratio of 0.78 and a beta of 1.06. Essent Group has a fifty-two week low of $36.53 and a fifty-two week high of $56.45. The business’s 50-day moving average is $52.84 and its 200-day moving average is $50.39.

Essent Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Wednesday, March 13th will be issued a $0.28 dividend. This is an increase from Essent Group’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.16%. Essent Group’s dividend payout ratio is currently 15.38%.

Insider Buying and Selling

In related news, SVP Mary Lourdes Gibbons sold 5,000 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the transaction, the senior vice president now owns 247,969 shares in the company, valued at $13,638,295. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Essent Group

A number of hedge funds have recently added to or reduced their stakes in ESNT. Norges Bank acquired a new position in Essent Group in the fourth quarter worth approximately $40,728,000. Capital World Investors boosted its position in Essent Group by 10.2% during the first quarter. Capital World Investors now owns 8,781,249 shares of the financial services provider’s stock worth $361,875,000 after purchasing an additional 815,259 shares during the period. Envestnet Asset Management Inc. boosted its position in Essent Group by 1,442.0% during the first quarter. Envestnet Asset Management Inc. now owns 638,753 shares of the financial services provider’s stock worth $2,590,000 after purchasing an additional 597,330 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Essent Group during the fourth quarter worth approximately $17,606,000. Finally, Vanguard Group Inc. boosted its position in Essent Group by 4.0% during the first quarter. Vanguard Group Inc. now owns 10,590,130 shares of the financial services provider’s stock worth $436,419,000 after purchasing an additional 411,585 shares during the period. Institutional investors and hedge funds own 91.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ESNT. UBS Group began coverage on Essent Group in a report on Wednesday, December 6th. They set a “neutral” rating and a $54.00 price objective on the stock. downgraded Essent Group from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Barclays initiated coverage on Essent Group in a report on Wednesday, November 15th. They set an “overweight” rating and a $60.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from, the company has an average rating of “Moderate Buy” and a consensus target price of $56.38.

Check Out Our Latest Analysis on ESNT

Essent Group Company Profile

(Get Free Report)

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.

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Earnings History for Essent Group (NYSE:ESNT)

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