Streetbeat News

ACT

Enact Holdings, Inc.

https://www.enactmi.com

Industry

Insurance - Specialty

Enact Holdings, Inc. operates as a private mortgage insurance company in the United States. The company is involved in writing and assuming residential mortgage guaranty insurance. It offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and contract underwriting services for mortgage lenders. The company was formerly known as Genworth Mortgage Holdings, Inc. and changed its name to Enact Holdings, Inc. in May 2021. Enact Holdings, Inc. was founded in 1981 and is headquartered in Raleigh, North Carolina. Enact Holdings, Inc. is a subsidiary of Genworth Holdings, Inc.

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BTIG analyst Ryan Gilbert maintains a Buy rating on Enact Holdings (NASDAQ:ACT) and raises the price target from $33 to $37.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 5:17 pm

Enact Holdings (NASDAQ:ACT) reported Q2 2024 adjusted EPS of $1.27, beating the $0.99 estimate by 28.28%. Sales were $298.83M, slightly above the $298.73M estimate and up 7.68% from last year.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 8:28 pm

UBS analyst Douglas Harter maintains a Neutral rating on Enact Holdings (NASDAQ:ACT) and raises the price target from $31 to $33.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 1:57 pm

Enact Holdings (NASDAQ:ACT) reported Q1 2024 earnings of $1.04 per share, surpassing the $0.96 estimate, but sales of $291.576M fell short of the $294.116M forecast. Earnings per share decreased by 3.7% from the previous year, while sales increased by 3.79%.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 10:08 pm

Enact Holdings, Inc. (NASDAQ:ACT) announced an increase in its quarterly dividend from $0.16 to $0.185 per share and introduced a new $250M share repurchase program, in addition to the existing $100M program with $24M remaining. The dividend is payable on June 13, 2024, to shareholders of record as of May 29, 2024. The new repurchase program allows for stock purchases through various methods and may include transactions with Genworth Holdings, Inc. The initiatives reflect Enact's strong financial position and commitment to shareholder value.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 9:20 pm

Enact Holdings has filed for a mixed shelf offering according to a recent SEC filing, though no specific terms of the offering have been disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 8:50 pm

Keefe, Bruyette & Woods analyst Bose George maintains an Outperform rating on Enact Holdings (NASDAQ:ACT) and raises the price target from $35 to $37.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:21 pm

JP Morgan analyst Richard Shane maintains a Neutral rating on Enact Holdings (NASDAQ:ACT) and raises the price target from $30 to $31.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:37 am

Enact Holdings (NASDAQ:ACT) announced a quarterly dividend of 16 cents per share, with the ex-dividend date set for Tuesday. Shareholders owning the stock by the end of Monday are eligible for the payout, which will be distributed on March 13, 2024. The stock is expected to open 16 cents lower on the ex-dividend date.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 2:45 pm

Enact Holdings (NASDAQ:ACT) reported Q4 earnings, beating estimates with an EPS of $0.98 against the expected $0.92, a 6.52% beat. Revenue increased by $19.35 million from the same period last year. The company has a history of surpassing EPS estimates, which in the past has led to a positive impact on its share price the following day.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 9:25 pm

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