Bermuda's Essent Group Q1 net income dips, EPS rises

Essent

08/05/2026 11:39

Overview

Bermuda mortgage insurer's Q1 net income fell slightly yr/yr, diluted EPS rose

New insurance written rose yr/yr but declined from prior quarter

Company repurchased 3.5 mln shares for over $214 mln YTD through April 30, 2026

Outlook

Company did not provide specific guidance for the current qtr or full yr

Result Drivers

FAVORABLE CREDIT TRENDS - Co said results continued to benefit from favorable credit trends

INTEREST RATES - Co said interest rates positively affected both persistency and investment income

STRONG CASH FLOW - Co attributed strong cash flow generation to its core mortgage insurance business and operating model

Company press release: ID:nGNXbn3M7M

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Direct Premiums Written
$431.23 mln
Q1 Net Income
$171.80 mln
Q1 Pretax Profit
$206.73 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the property & casualty insurance peer group is "buy."

Wall Street's median 12-month price target for Essent Group Ltd is $68.75, about 11.6% above its May 7 closing price of $61.58

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)