📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance, and title insurance and settlement services to mortgage lenders, borrowers, and investors in the United States. It operates through two segments, Mortgage Insurance and Reinsurance. The company’s mortgage insurance products include primary, pool, and master policy. It also provides information technology maintenance and development services; customer support-related services; underwriting consulting services to third-party reinsurers; and contract underwriting services, as well as credit risk management products. In addition, the company offers title insurance and settlement services; and title insurance underwriting services. It serves the originators of residential mortgage loans, such as regulated depository institutions, mortgage banks, credit unions, and other lenders. Essent Group Ltd. was founded in 2008 and is headquartered in Hamilton, Bermuda.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding ESNT

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	175.2K	$10.2M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly used concrete metrics (e.g., 14% ROE, 176% PMIERs, $1.93 EPS) and detailed explanations of their business model, credit quality, and capital return plans without hedging or vague language.

Q3 2025

Confident Specific

Mark Casale repeatedly uses language like 'resilience of our business', 'strength of our buy, manage, and distribute operating model', 'strong earnings and cash flow', and provides precise figures such as $854 million operating cash flow, $500 million buyback, and $500 million new authorization. He directly addresses analyst questions with detailed explanations and maintains a forward-looking, assured tone throughout.

Q4 2025

Confident Specific

Mark Casale uses phrases like 'strong performance', 'demonstrate the strength of our buy, manage, and distribute operating model', and 'we remain committed to a measured and diversified capital strategy'. He also emphasizes 'we are paid to wait' and 'we like to optimize our unit economics', showing confidence in their disciplined approach.

Q1 2026 latest

Confident Specific

Management used phrases like 'continue to benefit from favorable credit performance', 'strong and consistent cash flow generation', and 'well-positioned' while also acknowledging a 'pause' in housing, but overall expressed confidence in long-term fundamentals and capital allocation.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis remains largely unchanged but slightly stronger due to demonstrated cash flow generation and disciplined capital allocation. The core MI business is in a holding pattern with high persistency and a pause in originations, but management's diversification into P&C reinsurance and other invested assets provides incremental earnings potential without significant incremental capital. The strong credit quality and embedded home equity in the portfolio support a benign claims outlook. Key watch items for next quarter include any change in default rates, progress in title customer wins, and the earnings contribution from P&C activities as they ramp up.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Essent Group Q1 2026: $172M net income, $248B insurance in force, 12% ROE.

Revenue & Profitability

For Q1 2026, Essent reported net income of $172 million ($1.82 per diluted share) and an annualized return on average equity of 12%. Book value per share was $61.20, up 11% year-over-year. Mortgage insurance net premium earned totaled $216 million. Trailing 12-month operating cash flow was $827 million.

Outlook

Management views the housing market as in a pause due to affordability and higher rates, but believes favorable demographics, supply constraints, and pent-up demand will be positive when affordability improves. They see no cracks in consumer credit currently, though defaults are expected to normalize as the portfolio seasons (peak default at 36-60 months). The key macro indicator to watch is the unemployment rate.

Growth Drivers

Growth levers include expansion of the P&C reinsurance platform (Essent Re): a Lloyd's program generating ~$120 million and a whole account quota share generating ~$200 million in written premium for 2026. The title insurance business is building momentum as an MI adjacency, leveraging the customer base. Long-term growth is expected from demographic tailwinds and a recovery in mortgage originations when rates moderate.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

The MI segment's expense ratio was 17.4% in Q1 2026, with an average net premium rate of 35 basis points. P&C reinsurance business is expected to have combined ratios in the mid-to-high 90s. No explicit margin guidance was provided, but management noted that P&C offers higher premium leverage compared to MI.

Key Risks

Key risks flagged by management include elevated unemployment (which could affect high-FICO borrowers), inflation (especially higher oil prices impacting lower-end consumers), and the persistent affordability challenge from higher interest rates. Defaults may increase as the portfolio seasons, but the rate is not expected to accelerate. The P&C reinsurance segment's near-term earnings impact is immaterial.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-07

Q2 2026 saw strong net income, EPS growth, and stable MI portfolio performance, with robust capital returns and a positive long-term outlook despite near-term affordability constraints. Strategic investments and reinsurance expansion support future growth.

Q1 2026 Q1 2026 2026-05-08

Q1 2026 net income reached $172M ($1.82/share) with 12% ROE and 11% book value growth. MI in force rose 1% year-over-year, credit quality remains strong, and capital returns exceeded $200M in share repurchases YTD. Housing affordability and rates remain key headwinds.

Q4 2025 Q4 2025 2026-02-13

Strong Q4 and full year 2025 results were driven by positive credit trends, high persistency, and disciplined capital management, with robust earnings, a 13% increase in book value per share, and nearly 10% of shares repurchased. Modest growth is expected near term amid stable credit quality and a cautious outlook on market conditions.

Q3 2025 Q3 2025 2025-11-07

Net income for Q3 2025 was $164 million with EPS of $1.67, and mortgage insurance in force rose 2% year-over-year. Persistency remained high at 86%, and capital returns to shareholders accelerated with a new $500 million buyback authorization.

Q2 2025 Q2 2025 2025-08-08

Q2 2025 net income was $195M with strong credit performance and investment income. Persistency and capital remain robust, with $247B insurance in force and a 14% ROE. Moody’s upgraded ratings, and $390M in share repurchases were completed YTD.

📊 Analysis Methodology

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