Essent Group's Quiet Period Conclusion Provides Opportunity
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Essent Group Ltd. Included in Russell 2000® Index and Rings the Opening Bell® at the New York Stock ExchangePR Newswire (Dec 23, 2013)
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ESNT vs. ETF Alternatives
Wednesday, Feb 192:40 PM
Wednesday, Feb 192:40 PM| Comment!
- Investors sell the news following Essent Group's (ESNT -7%) earnings beat this morning, but BTIG's Mark Palmer reminds the newish company - unencumbered by legacy losses - is a growth play in the mortgage insurance sector rather than a play on improving credit.
- Primary insurance in force of $32B as of Dec. 31 is up 135% from a year ago. New insurance written of $4.5B compares to $4B a year ago. For the full year, NIW of $21.2B vs. $11.2B in 2012.
- Net premiums earned of $40.3M compares to $16.5M a year ago. The expense ratio of 55.3% compares to 100.2%.
- Press release, Q4 results
Wednesday, Feb 197:04 AM|Wednesday, Feb 197:04 AM| Comment!