Essent Group Ltd. (NYSE:ESNT) Short Interest Update
by Mitch Edgeman · The Markets DailyEssent Group Ltd. (NYSE:ESNT – Get Free Report) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 1,353,395 shares, a drop of 25.3% from the December 15th total of 1,811,967 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily volume of 675,980 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily volume of 675,980 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.4% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
Several analysts recently commented on ESNT shares. JPMorgan Chase & Co. upped their price target on shares of Essent Group from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $70.00 price objective on shares of Essent Group in a research note on Tuesday, January 6th. Barclays decreased their target price on shares of Essent Group from $66.00 to $65.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 6th. Keefe, Bruyette & Woods boosted their price target on Essent Group from $71.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, December 18th. Finally, Roth Capital upped their price objective on Essent Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, January 2nd. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.29.
Insider Transactions at Essent Group
In related news, SVP Mary Lourdes Gibbons sold 4,352 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $67.00, for a total transaction of $291,584.00. Following the transaction, the senior vice president owned 237,896 shares in the company, valued at $15,939,032. This trade represents a 1.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roy James Kasmar sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $61.44, for a total value of $199,680.00. Following the completion of the sale, the director owned 23,573 shares of the company’s stock, valued at approximately $1,448,325.12. This represents a 12.12% decrease in their position. The SEC filing for this sale provides additional information. 3.40% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Essent Group
Large investors have recently made changes to their positions in the stock. Cooke & Bieler LP boosted its holdings in Essent Group by 19.6% during the third quarter. Cooke & Bieler LP now owns 1,938,688 shares of the financial services provider’s stock worth $123,223,000 after buying an additional 318,318 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Essent Group by 78.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,517,859 shares of the financial services provider’s stock valued at $92,180,000 after acquiring an additional 669,577 shares during the period. Norges Bank purchased a new stake in shares of Essent Group during the 2nd quarter worth approximately $75,596,000. Wellington Management Group LLP boosted its stake in shares of Essent Group by 45.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,198,447 shares of the financial services provider’s stock worth $76,173,000 after acquiring an additional 372,881 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Essent Group by 3.4% in the 3rd quarter. Invesco Ltd. now owns 1,116,784 shares of the financial services provider’s stock worth $70,983,000 after acquiring an additional 36,586 shares during the period. Hedge funds and other institutional investors own 93.00% of the company’s stock.
Essent Group Stock Performance
Shares of Essent Group stock traded down $0.19 on Monday, reaching $60.94. 1,185,805 shares of the stock were exchanged, compared to its average volume of 536,825. Essent Group has a 1-year low of $51.61 and a 1-year high of $67.09. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average price of $63.29 and a two-hundred day moving average price of $61.59. The firm has a market capitalization of $5.89 billion, a PE ratio of 8.87, a PEG ratio of 3.86 and a beta of 0.90.
Essent Group (NYSE:ESNT – Get Free Report) last issued its earnings results on Friday, November 7th. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.08). Essent Group had a return on equity of 12.40% and a net margin of 55.63%.The business had revenue of $311.83 million for the quarter, compared to analysts’ expectations of $316.84 million. During the same period last year, the company posted $1.65 earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, research analysts anticipate that Essent Group will post 6.88 earnings per share for the current fiscal year.
Essent Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, December 1st were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, December 1st. Essent Group’s payout ratio is presently 18.05%.
About Essent Group
Essent Group Ltd. (NYSE: ESNT) is a publicly traded insurance holding company specializing in private mortgage insurance and mortgage reinsurance solutions. Through its primary subsidiary, Essent Guaranty, the company provides credit protection to mortgage lenders, helping mitigate the risk of borrower default on residential mortgage loans. Essent’s insurance policies enable lenders to offer low-down-payment programs, supporting homebuyers in achieving homeownership with reduced upfront equity requirements.
Beyond traditional mortgage insurance, Essent offers a suite of risk management and analytics services designed to help financial institutions monitor and manage mortgage portfolios.