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.

Open

33.63

Mkt cap

5.3B

Volume

381K

High

33.94

P/E Ratio

8.12

52-wk high

37.42

Low

33.36

Div yield

0.05

52-wk low

26.13

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

Enact Holdings (NASDAQ:ACT) reported Q4 earnings of $0.98 per share, surpassing the $0.92 estimate, marking an 8.89% increase from last year. However, their Q4 sales of $296.19M fell short of the $299.81M estimate, despite being a 6.99% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 9:22 pm

Earnings reports for various companies are scheduled for February 6, 2024, with projections ranging from significant profits to losses across diverse sectors. Notable mentions include BP, UBS, Frontier Group Holdings, and Spotify Technology, among others, indicating a broad spectrum of financial health and market expectations.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 10:42 am

Enact Holdings (NASDAQ:ACT) is scheduled to release its quarterly earnings report on February 6, 2024, with analysts expecting an EPS of $0.92. The company's past earnings performance shows a history of beating EPS estimates, which has sometimes led to positive stock price movements. Shares of Enact Holdings have increased by 19.94% over the last 52 weeks, trading at $28.0 as of February 2. Investors are looking forward to not only the earnings results but also the company's guidance for future growth.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 5:01 pm

Enact Mortgage Insurance has entered into a quota share reinsurance agreement with a broad panel of reinsurers. The agreement stipulates that Enact will cede about 21% of a portion of expected new insurance written from January 1, 2024, to December 31, 2024, subject to certain conditions.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:49 pm

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