Wells Fargo May Have Just Lost Faith in Essent Group (NYSE:ESNT)

April 20, 2018 - By Winifred Garcia

Investors sentiment decreased to 1.51 in Q4 2017. Its down 0.24, from 1.75 in 2017Q3. It dived, as 19 investors sold Essent Group Ltd. shares while 70 reduced holdings. 43 funds opened positions while 91 raised stakes. 83.75 million shares or 0.88% more from 83.02 million shares in 2017Q3 were reported.

Credit Suisse Ag reported 103,996 shares. Verition Fund Management Llc reported 6,507 shares or 0.03% of all its holdings. Adams Diversified Equity Fund Incorporated stated it has 0.04% of its portfolio in Essent Group Ltd. (NYSE:ESNT). California Employees Retirement Systems has 0.01% invested in Essent Group Ltd. (NYSE:ESNT) for 136,228 shares. Principal Grp accumulated 14,212 shares. New York-based Jpmorgan Chase And has invested 0% in Essent Group Ltd. (NYSE:ESNT). Hillsdale Inv Mgmt has 30,600 shares. California State Teachers Retirement Systems reported 0.01% of its portfolio in Essent Group Ltd. (NYSE:ESNT). Renaissance Group Lc has 0.04% invested in Essent Group Ltd. (NYSE:ESNT). Ahl Limited Liability Partnership owns 6,027 shares or 0% of their US portfolio. Jbf Incorporated holds 0.01% of its portfolio in Essent Group Ltd. (NYSE:ESNT) for 2,000 shares. Dupont Cap has invested 0.18% in Essent Group Ltd. (NYSE:ESNT). Stanley stated it has 19,189 shares or 0.18% of all its holdings. Strs Ohio reported 0.01% stake. Renaissance Limited Liability has invested 0.04% in Essent Group Ltd. (NYSE:ESNT).

Since October 20, 2017, it had 0 insider purchases, and 2 sales for $22.32 million activity. 5,209 Essent Group Ltd. (NYSE:ESNT) shares with value of $234,509 were sold by Gibbons Mary Lourdes. Shares for $22.31 million were sold by CASALE MARK on Monday, February 12.

Essent Group (NYSE:ESNT) Receives a Downgrade

The Rating of Essent Group (NYSE:ESNT) shares have been lowered by Wells Fargo from a “Outperform” rating to a “Market Perform” rating in analysts report sent to clients and investors on Thursday, 19 April.

Investors sentiment decreased to 1.51 in Q4 2017. Its down 0.24, from 1.75 in 2017Q3. It dived, as 19 investors sold Essent Group Ltd. shares while 70 reduced holdings. 43 funds opened positions while 91 raised stakes. 83.75 million shares or 0.88% more from 83.02 million shares in 2017Q3 were reported.

Credit Suisse Ag reported 103,996 shares. Verition Fund Management Llc reported 6,507 shares or 0.03% of all its holdings. Adams Diversified Equity Fund Incorporated stated it has 0.04% of its portfolio in Essent Group Ltd. (NYSE:ESNT). California Employees Retirement Systems has 0.01% invested in Essent Group Ltd. (NYSE:ESNT) for 136,228 shares. Principal Grp accumulated 14,212 shares. New York-based Jpmorgan Chase And has invested 0% in Essent Group Ltd. (NYSE:ESNT). Hillsdale Inv Mgmt has 30,600 shares. California State Teachers Retirement Systems reported 0.01% of its portfolio in Essent Group Ltd. (NYSE:ESNT). Renaissance Group Lc has 0.04% invested in Essent Group Ltd. (NYSE:ESNT). Ahl Limited Liability Partnership owns 6,027 shares or 0% of their US portfolio. Jbf Incorporated holds 0.01% of its portfolio in Essent Group Ltd. (NYSE:ESNT) for 2,000 shares. Dupont Cap has invested 0.18% in Essent Group Ltd. (NYSE:ESNT). Stanley stated it has 19,189 shares or 0.18% of all its holdings. Strs Ohio reported 0.01% stake. Renaissance Limited Liability has invested 0.04% in Essent Group Ltd. (NYSE:ESNT).

Since October 20, 2017, it had 0 insider purchases, and 2 sales for $22.32 million activity. 5,209 Essent Group Ltd. (NYSE:ESNT) shares with value of $234,509 were sold by Gibbons Mary Lourdes. Shares for $22.31 million were sold by CASALE MARK on Monday, February 12.

Essent Group Ltd. (NYSE:ESNT) Ratings Coverage

Among 9 analysts covering Essent Group Ltd (NYSE:ESNT), 9 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Essent Group Ltd has $62.0 highest and $46 lowest target. $53.97’s average target is 60.10% above currents $33.71 stock price. Essent Group Ltd had 22 analyst reports since October 25, 2017 according to SRatingsIntel. The firm has “Buy” rating given on Tuesday, April 10 by Susquehanna. The firm has “Buy” rating given on Thursday, January 4 by Susquehanna. The firm earned “Hold” rating on Friday, November 3 by Deutsche Bank. BTIG Research maintained Essent Group Ltd. (NYSE:ESNT) rating on Thursday, November 9. BTIG Research has “Buy” rating and $49.0 target. The stock of Essent Group Ltd. (NYSE:ESNT) has “Buy” rating given on Wednesday, October 25 by Deutsche Bank. The stock has “Overweight” rating by Barclays Capital on Wednesday, April 11. The firm earned “Buy” rating on Thursday, November 9 by Keefe Bruyette & Woods. Susquehanna maintained it with “Buy” rating and $62.0 target in Friday, February 9 report. The rating was maintained by RBC Capital Markets with “Buy” on Tuesday, April 10. Deutsche Bank maintained the shares of ESNT in report on Tuesday, April 10 with “Buy” rating.

The stock decreased 3.22% or $1.12 during the last trading session, reaching $33.71. About 2.68M shares traded or 180.40% up from the average. Essent Group Ltd. (NYSE:ESNT) has risen 21.73% since April 20, 2017 and is uptrending. It has outperformed by 10.18% the S&P500.

Analysts await Essent Group Ltd. (NYSE:ESNT) to report earnings on May, 4 before the open. They expect $1.11 EPS, up 54.17 % or $0.39 from last year’s $0.72 per share. ESNT’s profit will be $108.89 million for 7.59 P/E if the $1.11 EPS becomes a reality. After $0.79 actual EPS reported by Essent Group Ltd. for the previous quarter, Wall Street now forecasts 40.51 % EPS growth.

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. The company has market cap of $3.31 billion. The firm also provides information technology maintenance and development services; customer support-related services; and contract underwriting services. It has a 8.45 P/E ratio. It serves originators of residential mortgage loans, such as regulated depository institutions, mortgage banks, credit unions, and other lenders.

Essent Group Ltd. (NYSE:ESNT) Ratings Chart

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