Price Action Report: What Next for Essent Group Ltd Stock After Achieving All-Time High?

Price Action Report: What Next for Essent Group Ltd Stock After Achieving All Time High?

The stock of Essent Group Ltd (NYSE:ESNT) reached all time high today, Nov, 28 and still has $33.27 target or 9.00% above today’s $30.52 share price. This indicates more upside for the $2.89B company. This technical setup was reported by Barchart.com. If the $33.27 PT is reached, the company will be worth $260.10 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 124,376 shares traded hands. Essent Group Ltd (NYSE:ESNT) has risen 46.10% since April 25, 2016 and is uptrending. It has outperformed by 40.09% 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 $58.71M for 12.31 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. Essent Group has been the topic of 14 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Wednesday, September 28 by Bank of America. Barclays Capital maintained Essent Group Ltd (NYSE:ESNT) rating on Wednesday, September 7. Barclays Capital has “Overweight” rating and $30 price target. The stock has “Neutral” rating given by Credit Suisse on Monday, May 2. The rating was downgraded by Keefe Bruyette & Woods to “Market Perform” on Friday, August 5. The rating was maintained by Barclays Capital with “Overweight” on Friday, August 5. The company was maintained on Friday, May 6 by Compass Point. The company was maintained on Friday, August 5 by Compass Point. The stock of Essent Group Ltd (NYSE:ESNT) has “Underperform” rating given on Thursday, October 27 by Bank of America. The firm has “Neutral” rating given on Tuesday, February 16 by Compass Point.

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 2016 Q2. 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.
Tiaa Cref Inv Management Limited Liability has 0.01% invested in the company for 375,718 shares. Blackrock Inc reported 48,982 shares or 0% of all its holdings. Gotham Asset Llc reported 10,015 shares or 0% of all its holdings. Robertson Opportunity Cap Ltd holds 1.4% of its portfolio in Essent Group Ltd (NYSE:ESNT) for 80,000 shares. Cipher Limited Partnership owns 22,769 shares or 0.03% of their US portfolio. Pnc Fincl Serv Inc holds 77,468 shares or 0% of its portfolio. Northern Trust has invested 0.01% of its portfolio in Essent Group Ltd (NYSE:ESNT). Harvest Capital Strategies Limited Liability Corporation holds 0.13% of its portfolio in Essent Group Ltd (NYSE:ESNT) for 41,486 shares. Deutsche Bank Ag reported 45,837 shares or 0% of all its holdings. Pacad Inv Ltd accumulated 7,200 shares or 0.02% of the stock. First Tru Advisors Limited Partnership holds 0% of its portfolio in Essent Group Ltd (NYSE:ESNT) for 16,031 shares. Putnam Invests, a Massachusetts-based fund reported 91,927 shares. Victory Cap accumulated 290,102 shares or 0.03% of the stock. Century Inc holds 0.06% of its portfolio in Essent Group Ltd (NYSE:ESNT) for 2.59M shares. Sei Investments last reported 0% of its portfolio in the stock.

Insider Transactions: Since July 6, 2016, the stock had 1 buy, and 8 selling transactions for $66.78 million net activity. On Monday, September 19 the insider Gibbons Mary Lourdes sold $208,725. $66.13 million worth of Essent Group Ltd (NYSE:ESNT) was sold by PBRA (CAYMAN) Co. 2,000 Essent Group Ltd (NYSE:ESNT) shares with value of $55,000 were sold by MCALEE LAWRENCE E JR. On Tuesday, August 16 Cashmer Jeff sold $627,600 worth of the stock or 24,000 shares. $775,409 worth of Essent Group Ltd (NYSE:ESNT) shares were bought by Turnbull Andrew.

More notable 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 with their article: “Essent Group Ltd. Schedules Third Quarter Earnings Conference Call on November …” published on October 13, 2016, Businesswire.com published: “Essent Group Ltd. Reports Third Quarter 2016 Results” on November 04, 2016. More interesting news about Essent Group Ltd (NYSE:ESNT) were released by: Businesswire.com and their article: “Essent Group Ltd. Reports Second Quarter 2016 Results” published on August 04, 2016 as well as Businesswire.com‘s news article titled: “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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