In yesterday’s Wall Street session, Essent Group Ltd. (NYSE:ESNT) shares traded at $43.67, down -0.09% from the previous session.
ESNT stock price is now 5.38% away from the 50-day moving average and 9.54% away from the 200-day moving average. The market capitalization of the company currently stands at $4.69B.
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With the price target reduced from $54 to $43, Barclays Downgraded its rating from Overweight to Equal Weight for Essent Group Ltd. (NYSE: ESNT). On January 05, 2023, Goldman Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock keeping its target price maintained at $44, while ‘JP Morgan’ rates the stock as ‘Overweight’.
In other news, PAULS DOUGLAS J, Director sold 2,500 shares of the company’s stock on Feb 15. The stock was sold for $108,725 at an average price of $43.49. Upon completion of the transaction, the Director now directly owns 26,575 shares in the company, valued at $1.16 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 02, SVP and Chief Legal Officer Gibbons Mary Lourdes sold 1,072 shares of the business’s stock. A total of $48,240 was realized by selling the stock at an average price of $45.00. This leaves the insider owning 247,293 shares of the company worth $10.8 million. Insiders disposed of 18,221 shares of company stock worth roughly $0.8 million over the past 1 year. A total of 3.17% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ESNT stock. A new stake in Essent Group Ltd. shares was purchased by CAPITAL RESEARCH GLOBAL INVESTORS during the first quarter worth $34,936,000. DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTS BANK, FRANKFURT invested $19,776,000 in shares of ESNT during the first quarter. In the first quarter, JUPITER ASSET MANAGEMENT LTD acquired a new stake in Essent Group Ltd. valued at approximately $3,540,000. JEFFERIES FINANCIAL GROUP INC. acquired a new stake in ESNT for approximately $2,435,000. CORNERCAP INVESTMENT COUNSEL INC purchased a new stake in ESNT valued at around $1,147,000 in the second quarter. In total, there are 377 active investors with 95.80% ownership of the company’s stock.
Monday morning saw Essent Group Ltd. (NYSE: ESNT) opened at $43.85. During the past 12 months, Essent Group Ltd. has had a low of $34.27 and a high of $45.01. The fifty day moving average price for ESNT is $41.44 and a two-hundred day moving average price translates $39.87 for the stock.
The latest earnings results from Essent Group Ltd. (NYSE: ESNT) was released for Sep, 2022. The net profit margin was 83.10% and return on equity was 19.30% for ESNT. For the current quarter, analysts expect ESNT to generate $245.31M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/20/2023. Investors who held shares on 03/10/2023 were paid a $0.25 dividend. On an annualized basis, this represents a $1.00 dividend and a 2.29% percent yield. There was an ex-dividend date of 03/09/2023 for this dividend. In terms of dividend payout ratio, ESNT is presently at 11.10%.
Essent Group Ltd.(ESNT) 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. It serves the originators of residential mortgage loans, such as regulated depository institutions, mortgage banks, credit unions, and other lenders. The company was founded in 2008 and is based in Hamilton, Bermuda.
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