Price Action Don’t Lie: Does Essent Group Ltd Have More Gas After Achieving All Time High?

Price Action Don't Lie: Does Essent Group Ltd Have More Gas After Achieving All Time High?

The stock of Essent Group Ltd (NYSE:ESNT) reached all time high today, Nov, 14 and still has $38.39 target or 35.00% above today’s $28.44 share price. This indicates more upside for the $2.61B company. This technical setup was reported by Barchart.com. If the $38.39 PT is reached, the company will be worth $913.50 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 717,967 shares traded hands or 36.80% up from the average. Essent Group Ltd (NYSE:ESNT) has risen 48.02% since April 12, 2016 and is uptrending. It has outperformed by 43.04% 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. The stock of Essent Group Ltd (NYSE:ESNT) earned “Neutral” rating by Credit Suisse on Monday, May 2. The stock of Essent Group Ltd (NYSE:ESNT) has “Market Perform” rating given on Friday, August 5 by Keefe Bruyette & Woods. The firm has “Neutral” rating given on Tuesday, February 16 by Compass Point. The rating was downgraded by Bank of America on Thursday, October 27 to “Underperform”. The firm has “Overweight” rating given on Friday, August 5 by Barclays Capital. Compass Point maintained it with “Neutral” rating and $24 target price in Friday, May 6 report. Compass Point maintained Essent Group Ltd (NYSE:ESNT) on Friday, August 5 with “Neutral” rating. Bank of America downgraded the stock to “Neutral” rating in Wednesday, September 28 report. The rating was maintained by Barclays Capital on Wednesday, September 7 with “Overweight”.

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 increased, 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.
The New Jersey-based Lord Abbett Co Ltd has invested 0.18% in Essent Group Ltd (NYSE:ESNT). The California-based California State Teachers Retirement has invested 0.01% in Essent Group Ltd (NYSE:ESNT). Basswood Management Ltd Limited Liability Company reported 154,733 shares or 0.2% of all its holdings. Prudential, a New Jersey-based fund reported 67,550 shares. The Missouri-based Signalpoint Asset Lc has invested 0.22% in Essent Group Ltd (NYSE:ESNT). Harvest Strategies Limited Co, a California-based fund reported 41,486 shares. Boston Partners last reported 0.05% of its portfolio in the stock. Airain Limited owns 16,726 shares or 0.02% of their US portfolio. Moreover, Quinn Opportunity Partners Ltd Com has 0.43% invested in Essent Group Ltd (NYSE:ESNT) for 51,090 shares. The Connecticut-based Hartford Management Co has invested 0.08% in Essent Group Ltd (NYSE:ESNT). Moreover, Mufg Americas has 0% invested in Essent Group Ltd (NYSE:ESNT) for 1,220 shares. Invesco Limited has invested 0% of its portfolio in Essent Group Ltd (NYSE:ESNT). Soros Fund Mngmt Ltd Liability Com accumulated 1.48M shares or 0.69% of the stock. Royal Natl Bank Of Canada holds 0% or 500 shares in its portfolio. Principal Financial Grp Inc holds 15,787 shares or 0% of its portfolio.

Insider Transactions: Since May 16, 2016, the stock had 1 buying transaction, and 5 sales for $364,979 net activity. 2,000 Essent Group Ltd (NYSE:ESNT) shares with value of $55,000 were sold by MCALEE LAWRENCE E JR. $775,409 worth of Essent Group Ltd (NYSE:ESNT) was bought by Turnbull Andrew on Wednesday, July 6. 24,000 shares were sold by Cashmer Jeff, worth $483,600 on Monday, May 16. $208,725 worth of Essent Group Ltd (NYSE:ESNT) was sold by Gibbons Mary Lourdes on Monday, September 19.

More notable recent Essent Group Ltd (NYSE:ESNT) news were published by: Nasdaq.com which released: “Essent Group (ESNT): Strong Industry, Solid Earnings Estimate Revisions” on November 14, 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 Second Quarter 2016 Results” on August 04, 2016. More interesting news about Essent Group Ltd (NYSE:ESNT) were released by: Businesswire.com and their article: “Essent Group Ltd. Enters Into $200 Million Revolving Credit Facility” published on April 21, 2016 as well as Businesswire.com‘s news article titled: “Essent Group Ltd. Schedules Third Quarter Earnings Conference Call on November …” with publication date: October 13, 2015.

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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