Essent Group Ltd Stock Price, News & Analysis

Essent Group Ltd. (NYSE: ESNT) will hold a conference call on May 6, 2022, at 10:00 a.m. Eastern Time to discuss its Q1 2022 results. The results will be announced prior to the market opening on the same day. The call can be accessed via the internet or by dialing specific numbers provided for U.S. and international callers. A replay of the conference call will be available for two weeks following the event. Essent specializes in private mortgage insurance for single-family loans in the U.S., providing capital to mitigate mortgage credit risk.

Essent Group Ltd. (NYSE: ESNT) reported a net income of $181.0 million or $1.64 per diluted share for Q4 2021, up from $123.6 million or $1.10 per share in Q4 2020. For the full year, net income reached $681.8 million or $6.11 per share, compared to $413.0 million or $3.88 per share in 2020. A quarterly cash dividend of $0.20 per share was declared, payable on March 21, 2022. The company reported insurance in force of $207.2 billion and a 2.16% loan default rate as of December 31, 2021.

Essent Group Ltd. (NYSE: ESNT) announced a conference call for February 11, 2022, at 10:00 a.m. ET to discuss its fourth quarter and full year 2021 results. The earnings report will be released before the market opens on the same day. Investors can access the live call via the company's website or by phone. A replay will be available on the website and through a dedicated dial-in number. Essent, headquartered in Radnor, Pennsylvania, offers private mortgage insurance and related services in the U.S., providing capital to mitigate mortgage credit risk.

Essent Group Ltd. (NYSE: ESNT) has successfully amended its credit facility, increasing the total amount from $625 million to $825 million. The revised terms include raising the revolving credit facility from $300 million to $400 million, and adding a $100 million term loan, both maturing in December 2026. This enhancement reflects the company's strong financial standing, offering improved capital and liquidity. Borrowings can be used for working capital and corporate purposes, secured by certain assets of Essent.

Essent Group Ltd. (NYSE: ESNT) has appointed Christopher G. Curran as the new President of Essent Guaranty, Inc., effective January 1, 2022. Curran, who has over 25 years of experience in mortgage insurance and banking, will oversee all operations, including business development and risk management, while reporting to Mark A. Casale, the current CEO. Casale emphasized Curran's significant contributions over the past decade and highlighted the company's focus on enhancing shareholder value.

Essent Group Ltd. (NYSE: ESNT) has partnered with OpenClose to integrate its mortgage insurance products into OpenClose's LenderAssist™ loan origination system. This collaboration aims to streamline the mortgage insurance process by providing real-time access to Essent's pricing engine, EssentEDGE®. The integration is expected to enhance operational efficiencies for lenders by automating the MI certification workflow and delivering EssentEDGE rates instantly.

Essent Group Ltd. (NYSE: ESNT) announced that its subsidiary, Essent Guaranty, Inc., secured $439.4 million in fully collateralized excess of loss reinsurance coverage for mortgage insurance policies underwritten between April and September 2021. This coverage is from Radnor Re 2021-2 Ltd., a Bermuda-based special purpose insurer. The funding was achieved through the issuance of four classes of mortgage insurance-linked notes totaling over $439 million, with varying interest rates linked to the SOFR. The securities remain unregistered under U.S. law.

Essent Group Ltd. (NYSE: ESNT) reported a net income of $205.4 million or $1.84 per diluted share for Q3 2021, up from $124.5 million or $1.11 a year ago. The Board declared a quarterly cash dividend of $0.19 per share, payable on December 10, 2021. Insurance in force reached $208.2 billion, new insurance written was $23.6 billion, and net premiums earned were $218.7 million. The percentage of loans in default decreased to 2.47%, indicating improved credit performance. The combined ratio improved to 15.9%.

Essent Group Ltd. (NYSE: ESNT) will hold a conference call on November 5, 2021, at 10:00 a.m. ET to discuss its third quarter 2021 results, which will be released before the market opens on the same day. The call can be accessed via the Essent website or by calling specific numbers for U.S. and international participants. A replay will be available shortly after the call. Essent is a provider of private mortgage insurance in the U.S., enhancing mortgage financing for homeowners.