Essent Group Ltd Could Rise a Lot According to The Today’s Call Option Activity

 Essent Group Ltd Could Rise a Lot According to The Today's Call Option Activity

In today’s session Essent Group Ltd (ESNT) registered an unusually high (376) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the April, 2017 call, expecting serious ESNT increase. With 376 contracts traded and 254 open interest for the Apr, 17 contract, it seems this is a quite bullish bet. The option with symbol: ESNT170421C00030000 closed last at: $2.2 or 25.7% up. About 46,142 shares traded hands. Essent Group Ltd (NYSE:ESNT) has risen 41.38% since April 22, 2016 and is uptrending. It has outperformed by 35.97% the S&P500.

Analysts await Essent Group Ltd (NYSE:ESNT) to report earnings on February, 10. They expect $0.62 EPS, up 31.91% or $0.15 from last year’s $0.47 per share. ESNT’s profit will be $58.48 million for 11.93 P/E if the $0.62 EPS becomes a reality. After $0.65 actual EPS reported by Essent Group Ltd for the previous quarter, Wall Street now forecasts -4.62% negative EPS growth.

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. $31 is the highest target while $22 is the lowest. The $27.63 average target is -6.59% below today’s ($29.58) stock price. Essent Group has been the topic of 14 analyst reports since August 12, 2015 according to StockzIntelligence Inc. On Wednesday, September 7 the stock rating was maintained by Barclays Capital with “Overweight”. The stock has “Market Perform” rating given by Keefe Bruyette & Woods on Friday, August 5. Bank of America downgraded Essent Group Ltd (NYSE:ESNT) on Wednesday, September 28 to “Neutral” rating. Compass Point maintained it with “Neutral” rating and $26 target price in Friday, August 5 report. Compass Point maintained Essent Group Ltd (NYSE:ESNT) on Friday, May 6 with “Neutral” rating. As per Thursday, October 27, the company rating was downgraded by Bank of America. Compass Point maintained the stock with “Neutral” rating in Tuesday, February 16 report. The rating was maintained by Barclays Capital on Friday, August 5 with “Overweight”. Credit Suisse maintained it with “Neutral” rating and $24 target price in Monday, May 2 report.

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 1.98 in Q2 2016. Its up 0.54, from 1.44 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.
Walleye Trading Lc has invested 0% of its portfolio in Essent Group Ltd (NYSE:ESNT). Renaissance Tech Limited Liability Company reported 666,800 shares or 0.03% of all its holdings. Citigroup Inc holds 0% of its portfolio in Essent Group Ltd (NYSE:ESNT) for 22,682 shares. Zebra Management Lc reported 17,243 shares or 0.13% of all its holdings. Skyline Asset Limited Partnership owns 856,350 shares or 1.37% of their US portfolio. Engineers Gate Manager L P holds 0.1% or 60,834 shares in its portfolio. Moreover, State Street has 0% invested in Essent Group Ltd (NYSE:ESNT) for 1.27 million shares. Amer Century Cos Inc owns 2.59 million shares or 0.06% of their US portfolio. Los Angeles Cap Mgmt Equity, a California-based fund reported 10,530 shares. Parnassus Investments Ca holds 800,000 shares or 0.11% of its portfolio. Alps Advisors Inc last reported 0% of its portfolio in the stock. Gotham Asset Limited Liability Company has invested 0% of its portfolio in Essent Group Ltd (NYSE:ESNT). Jpmorgan Chase has 2,426 shares for 0% of their US portfolio. The New York-based Morgan Stanley has invested 0% in Essent Group Ltd (NYSE:ESNT). Strs Ohio, a Ohio-based fund reported 51,300 shares.

Insider Transactions: Since July 6, 2016, the stock had 1 buying transaction, and 8 insider sales for $66.78 million net activity. $163,563 worth of Essent Group Ltd (NYSE:ESNT) shares were sold by MCALEE LAWRENCE E JR. $66.13 million worth of Essent Group Ltd (NYSE:ESNT) was sold by PBRA (CAYMAN) Co on Thursday, November 10. The insider Turnbull Andrew bought 36,353 shares worth $775,409. Shares for $627,600 were sold by Cashmer Jeff. Gibbons Mary Lourdes also sold $208,725 worth of Essent Group Ltd (NYSE:ESNT) on Monday, September 19.

Essent Group Ltd. is a private mortgage insurance company. The company has a market cap of $2.79 billion. The Firm is engaged in serving the United States housing finance industry. It has a 13.33 P/E ratio. It offers private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States.

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.

More important recent Essent Group Ltd (NYSE:ESNT) news were published by: Businesswire.com which released: “Essent Group Ltd. CEO to Present at the J.P. Morgan 2016 FinTech & Specialty …” on November 23, 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 Third Quarter 2016 Results” on November 04, 2016. More interesting news about Essent Group Ltd (NYSE:ESNT) was released by: Businesswire.com and their article: “Essent Group Ltd. Reports Second Quarter 2016 Results” with publication date: August 04, 2016.

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