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Essent Group beats 3Q profit forecasts

HAMILTON, Bermuda (AP) _ Essent Group Ltd. (ESNT) on Thursday reported third-quarter net income of $78.4 million.

The Hamilton, Bermuda-based company said it had net income of 82 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The mortgage insurance and reinsurance holding company posted revenue of $150.2 million in the period.

Essent Group shares have climbed 29 percent since the beginning of the year. The stock has risen 54 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ESNT at https://www.zacks.com/ap/ESNT