Price Change to Note: Time to Reconsider Essent Group Ltd After Reaching 52-Week High?

Price Change to Note: Time to Reconsider Essent Group Ltd After Reaching 52 Week High?

The stock of Essent Group Ltd (NYSE:ESNT) hit a new 52-week high and has $48.21 target or 65.00% above today’s $29.22 share price. The 6 months bullish chart indicates low risk for the $2.83 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $48.21 price target is reached, the company will be worth $1.84B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 663,584 shares traded hands or 29.32% up from the average. Essent Group Ltd (NYSE:ESNT) has risen 51.48% since April 11, 2016 and is uptrending. It has outperformed by 45.34% the S&P500.

Essent Group Ltd (NYSE:ESNT) Ratings Coverage

Out of 6 analysts covering Essent Group (NYSE:ESNT), 2 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 33% are positive. Essent Group has been the topic of 14 analyst reports since August 12, 2015 according to StockzIntelligence Inc. Credit Suisse maintained the shares of ESNT in a report on Monday, May 2 with “Neutral” rating. As per Wednesday, September 28, the company rating was downgraded by Bank of America. Compass Point maintained Essent Group Ltd (NYSE:ESNT) on Friday, August 5 with “Neutral” rating. The stock of Essent Group Ltd (NYSE:ESNT) has “Neutral” rating given on Tuesday, February 16 by Compass Point. Compass Point maintained it with “Neutral” rating and $24 target price in Friday, May 6 report. On Friday, August 5 the stock rating was maintained by Barclays Capital with “Overweight”. Bank of America downgraded Essent Group Ltd (NYSE:ESNT) on Thursday, October 27 to “Underperform” rating. Keefe Bruyette & Woods downgraded the stock to “Market Perform” rating in Friday, August 5 report. Barclays Capital maintained Essent Group Ltd (NYSE:ESNT) rating on Wednesday, September 7. Barclays Capital has “Overweight” rating and $30 price target.

According to Zacks Investment Research, “Essent Group Ltd., through its subsidiaries, operates as a private mortgage insurance company. It serves originators of residential mortgage loans, such as regulated depository institutions, mortgage banks, credit unions, and other lenders. Essent Group Ltd. is based in Hamilton, Bermuda.”

Insitutional Activity: The institutional sentiment increased to 1.44 in Q2 2016. Its up 0.35, from 1.09 in 2016Q1. The ratio is positive, as 16 funds sold all Essent Group Ltd shares owned while 38 reduced positions. 24 funds bought stakes while 54 increased positions. They now own 70.39 million shares or 0.71% more from 69.90 million shares in 2016Q1.
New York State Common Retirement Fund holds 69,900 shares or 0% of its portfolio. Quinn Opportunity Ltd Company holds 51,090 shares or 0.43% of its portfolio. State Board Of Administration Of Florida Retirement holds 0% or 37,629 shares in its portfolio. Pine Brook Road Advsr Ltd Partnership, a New York-based fund reported 10.72 million shares. Moreover, Lord Abbett Lc has 0.18% invested in Essent Group Ltd (NYSE:ESNT) for 2.68M shares. Gsa Cap Ltd Liability Partnership accumulated 0.03% or 24,938 shares. Nationwide Fund Advsr has 112,376 shares for 0.01% of their US portfolio. Pnc Financial accumulated 0% or 77,468 shares. The New York-based Blackrock Inc has invested 0% in Essent Group Ltd (NYSE:ESNT). Skyline Asset Mngmt L P has 856,350 shares for 1.37% of their US portfolio. Schwab Charles Invest Mgmt Incorporated, a California-based fund reported 393,949 shares. Rhumbline Advisers has 69,808 shares for 0% of their US portfolio. New York State Teachers Retirement System owns 4,800 shares or 0% of their US portfolio. Grantham Mayo Van Otterloo And Limited Co holds 387,961 shares or 0.03% of its portfolio. Thrivent Fincl For Lutherans holds 0.02% or 227,908 shares in its portfolio.

Insider Transactions: Since May 16, 2016, the stock had 1 insider purchase, and 6 selling transactions for $848,579 net activity. Cashmer Jeff sold 24,000 shares worth $483,600. On Monday, September 19 Gibbons Mary Lourdes sold $208,725 worth of the stock or 7,500 shares. Turnbull Andrew also bought $775,409 worth of Essent Group Ltd (NYSE:ESNT) shares. Another trade for 2,000 shares valued at $55,000 was sold by MCALEE LAWRENCE E JR.

More important recent Essent Group Ltd (NYSE:ESNT) news were published by: Businesswire.com which released: “Essent Group Ltd. Reports Third Quarter 2016 Results” on November 04, 2016, also Businesswire.com published article titled: “Essent Group Ltd. Schedules Third Quarter Earnings Conference Call on November …”, Businesswire.com published: “Essent Group Ltd. Reports Second Quarter 2016 Results” on August 04, 2016. More interesting news about Essent Group Ltd (NYSE:ESNT) was released by: Businesswire.com and their article: “Essent Group Ltd. Enters Into $200 Million Revolving Credit Facility” with publication date: April 21, 2016.

ESNT Company Profile

Essent Group Ltd. (Essent), incorporated on July 1, 2008, is a private mortgage insurance company. The Firm is engaged in serving the United States housing finance industry. It offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The primary mortgage insurance activities are conducted through Essent Guaranty, Inc. (Essent Guaranty), a subsidiary of the firm domiciled in the state of Pennsylvania. Essent Guaranty maintains activities centers and operates additional underwriting and service centers in Winston-Salem, North Carolina and Irvine, California. Essent Guaranty is a mortgage insurer and is licensed to write mortgage insurance in all 50 states and the District of Columbia.

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