Barclays Maintains Essent Group Ltd to Overweight with Price Target $27.00

Brokerage firm Barclays Maintains its rating on Essent Group Ltd(NYSE:ESNT). In a research note issued to the investors, the brokerage major Raises the price-target to $27.00 per share. The shares have been rated Overweight. The rating by Barclays was issued on Aug 5, 2016.

In a different note, On Aug 5, 2016, Keefe Bruyette & Woods said it Downgrades its rating on Essent Group Ltd. In the research note, the firm Raises the price-target to $26.00 per share. The shares have been rated ‘Market Perform’ by the firm.

Essent Group Ltd (ESNT) shares turned negative on Wednesdays trading session with the shares closing down -0.29 points or -1.11% at a volume of 6,23,965. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $26.29. The peak price level was also seen at $26.29 while the days lowest was $25.71. Finally the shares closed at $25.85. The 52-week high of the shares is $28.67 while the 52-week low is $16.485. According to the latest information available, the market cap of the company is $2,407 M.

Essent Group Ltd(ESNT) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $108.17M. Analysts had an estimated revenue of $105.34M. Earnings per share were $0.57. Analysts had estimated an EPS of $0.53.

Several Insider Transactions has been reported to the SEC. On Jul 8, 2016, Andrew Turnbull (director) purchased 36,353 shares at $21.33 per share price.Also, On May 18, 2016, Jeff Cashmer (SVP & Chief Business Officer) sold 24,000 shares at $20.15 per share price.On Mar 10, 2016, Robert Glanville (director) purchased 1,000 shares at $19.31 per share price, according to the Form-4 filing with the securities and exchange commission.

Essent Group Ltd. (Essent) is a private mortgage insurance company. The Company is engaged in serving the United States housing finance industry. The Company offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The mortgage insurance operations are conducted through Essent Holdings’ regulated and licensed wholly owned subsidiaries Essent Guaranty Inc. (Essent Guaranty) and Essent Guaranty of PA Inc. (Essent PA). Essent Group also has a wholly owned Class 3A Insurer licensed pursuant to Section 4 Essent Reinsurance Ltd. (Essent Re) which offers mortgage-related insurance and reinsurance. The Company is licensed to write mortgage guaranty coverage in all 50 states and the District of Columbia. The Company operates additional underwriting and service centers in Winston-Salem North Carolina and Irvine California.

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