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Enact Holdings

Enact Holdings Inc is a private mortgage insurance company serving the United States housing finance market. The principal mortgage insurance customers are originators of residential mortgage loans who determine which mortgage insurer or insurers they will use for the placement of mortgage insurance written on loans they originate. The company is engaged in the business of writing and assuming residential mortgage guaranty insurance.

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Earnings Scheduled For February 4, 2025

JP Morgan analyst Richard Shane maintains Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) with a Neutral and lowers the price target from $36 to $35.

News

Price Target

Analyst Ratings

JP Morgan Maintains Neutral on Enact Holdings, Lowers Price Target to $35

Keefe, Bruyette &amp; Woods analyst Bose George maintains Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) with a Outperform and lowers the price target from $43 to $41.

Keefe, Bruyette & Woods Maintains Outperform on Enact Holdings, Lowers Price Target to $41

Keefe, Bruyette &amp; Woods analyst Bose George maintains Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) with a Outperform and raises the price target from $42 to $43.

Keefe, Bruyette & Woods Maintains Outperform on Enact Holdings, Raises Price Target to $43

JP Morgan analyst Richard Shane maintains Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) with a Neutral and lowers the price target from $39 to $36.

JP Morgan Maintains Neutral on Enact Holdings, Lowers Price Target to $36

Under the agreements, and subject to certain conditions, Enact will cede approximately 27% of a portion of expected new insurance written for the period from January 1, 2025 through December 31, 2025 and will cede approximately 27% of a portion of expected new insurance written for the period from January 1, 2026 through December 31, 2026.
 &nbsp;

Enact Holdings Enters Two Quota Share Reinsurance Agreements With A Broad Panel Of Highly-rated Reinsurers

Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) reported quarterly earnings of $1.16 per share which beat the analyst consensus estimate of $1.00 by 16 percent. The company reported quarterly sales of $309.588 million which beat the analyst consensus estimate of $305.927 million by 1.20 percent. This is a 3.53 percent increase over sales of $299.035 million the same period last year.

Earnings Beats

Enact Holdings Q3 2024 Adj. EPS $1.16 Beats $1.00 Estimate, Sales $309.588M Beat $305.927M Estimate

Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) will release its quarterly earnings report on Wednesday, 2024-11-06. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Enact Holdings to report an earnings per share (EPS) of $1.01.
The market awaits Enact Holdings's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Performance in Previous Earnings</h3>
Last quarter the company beat EPS by $0.29, which was followed by a 1.59% drop in the share price the next day.
Here's a look at Enact Holdings's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.98</td>
<td>0.96</td>
<td>0.92</td>
<td>0.88</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.27</td>
<td>1.04</td>
<td>0.98</td>
<td>1.02</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>-0.0%</td>
<td>-5.0%</td>
<td>1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730822544_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Enact Holdings were trading at $32.42 as of November 04. Over the last 52-week period, shares are up 17.16%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<h3>Analyst Views on Enact Holdings</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Enact Holdings.
A total of 1 analyst ratings have been received for Enact Holdings, with the consensus rating being Neutral. The average one-year price target stands at $38.0, suggesting a potential 17.21% upside.
<h3>Analyzing Analyst Ratings Among Peers</h3>
This comparison focuses on the analyst ratings and average 1-year price targets of Mr. Cooper Gr and Walker &amp; Dunlop, three major players in the industry, shedding light on their relative performance expectations and market positioning.
<ul>
<li>Mr. Cooper Gr is maintaining an Outperform status according to analysts, with an average 1-year price target of $111.0, indicating a potential 242.38% upside.</li>
<li>As per analysts' assessments, Walker &amp; Dunlop is favoring an Neutral trajectory, with an average 1-year price target of $107.5, suggesting a potential 231.59% upside.</li>
</ul>
<h3>Comprehensive Peer Analysis Summary</h3>
The peer analysis summary outlines pivotal metrics for Mr. Cooper Gr and Walker &amp; Dunlop, demonstrating their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>PennyMac Financial Servs</td>
<td>Outperform</td>
<td>12.95%</td>
<td>$238.99M</td>
<td>1.87%</td>
</tr>
<tr>
<td>Mr. Cooper Gr</td>
<td>Outperform</td>
<td>-12.15%</td>
<td>$270M</td>
<td>1.73%</td>
</tr>
<tr>
<td>Walker &amp; Dunlop</td>
<td>Neutral</td>
<td>-0.71%</td>
<td>$119.73M</td>
<td>1.30%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Enact Holdings ranks highest in Revenue Growth among its peers. It also leads in Gross Profit margin. However, it has the lowest Return on Equity compared to its peers.
<h3>All You Need to Know About Enact Holdings</h3>
Enact Holdings Inc is a private mortgage insurance company serving the United States housing finance market. The principal mortgage insurance customers are originators of residential mortgage loans who determine which mortgage insurer or insurers they will use for the placement of mortgage insurance written on loans they originate. The company is engaged in the business of writing and assuming residential mortgage guaranty insurance.
<h3>Breaking Down Enact Holdings's Financial Performance</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Enact Holdings displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 7.68%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Financials sector.
Net Margin: Enact Holdings's net margin excels beyond industry benchmarks, reaching 61.46%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Enact Holdings's ROE excels beyond industry benchmarks, reaching 3.85%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Enact Holdings's ROA excels beyond industry benchmarks, reaching 2.9%. This signifies efficient management of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 0.15, Enact Holdings adopts a prudent financial strategy, indicating a balanced approach to debt management.
<a href="https://www.benzinga.com/quote/ACT/earnings">To track all earnings releases for Enact Holdings visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Preview Of Enact Holdings's Earnings

JP Morgan analyst Richard Shane maintains Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) with a Neutral and raises the price target from $36 to $38.

JP Morgan Maintains Neutral on Enact Holdings, Raises Price Target to $38

BTIG analyst Ryan Gilbert maintains Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) with a Buy and raises the price target from $33 to $37.

BTIG Maintains Buy on Enact Holdings, Raises Price Target to $37

Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) reported quarterly earnings of $1.27 per share which beat the analyst consensus estimate of $0.99 by 28.28 percent. The company reported quarterly sales of $298.83 million which beat the analyst consensus estimate of $298.73 million by 0.03 percent. This is a 7.68 percent increase over sales of $277.52 million the same period last year.

Enact Holdings Q2 2024 Adj EPS $1.27 Beats $0.99 Estimate, Sales $298.83M Beat $298.73M Estimate

UBS analyst Douglas Harter maintains Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) with a Neutral and raises the price target from $31 to $33.

UBS Maintains Neutral on Enact Holdings, Raises Price Target to $33

Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) reported quarterly earnings of $1.04 per share which beat the analyst consensus estimate of $0.96 by 8.33 percent. This is a 3.7 percent decrease over earnings of $1.08 per share from the same period last year. The company reported quarterly sales of $291.576 million which missed the analyst consensus estimate of $294.116 million by 0.86 percent. This is a 3.79 percent increase over sales of $280.939 million the same period last year.

Earnings Misses

Enact Holdings Q1 2024 Adj EPS $1.04 Beats $0.96 Estimate, Sales $291.576M Miss $294.116M Estimate

Enact Holdings, Inc. (NASDAQ:<a href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) (Enact) a leading provider of private mortgage insurance through its insurance subsidiaries, today announced that its Board of Directors declared a quarterly dividend of $0.185 per common share, an increase of 16% from the prior quarter's dividend. This dividend will be payable on June 13, 2024, to shareholders of record on May 29, 2024. Future dividends will be subject to Board approval. &nbsp;
Additionally, Enact announced that its Board of Directors authorized a new share repurchase program under which the company may purchase up to $250 million of its common stock. The new share repurchase authorization is in addition to the company's current $100 million share repurchase program, of which $24 million remains as of April 26th, 2024.
"Today's announcement underscores the strength of our financial position and our ongoing confidence in our business," said Rohit Gupta, Enact's President and Chief Executive Officer. "The decision by the Board to raise our quarterly dividend and authorize a new share repurchase program are aligned with our disciplined and balanced approach to capital allocation focused on creating long-term value for our shareholders."
Enact's new share repurchase program authorizes the purchase of up to $250 million of the company's common stock utilizing a variety of methods, including open market purchases, and privately negotiated transactions, and may be made under Rule 10b5-1 and Rule 10b-18 trading plans, at such times and in such amounts as management deems appropriate. In support, Enact has entered into an agreement with Genworth Holdings, Inc. to repurchase its Enact shares on a pro rata basis as part of the program.
Enact expects the timing and amount of any share repurchases will be opportunistic and will depend on a variety of factors, including Enact's share price, capital availability, business and market conditions, regulatory requirements, and debt covenant restrictions. The program does not obligate Enact to acquire any amount of common stock, it may be suspended or terminated at any time at the Company's discretion without prior notice, and it does not have a specified expiration date.

Dividends

Buybacks

Enact Increases Quarterly Dividend From $0.16 To $0.185 And Announces New $250M Share Repurchase Program, In Addition To The Company's Current $100M Share Repurchase Program, Of Which $24M Remains As Of April 26th, 2024

<a href="https://www.sec.gov/Archives/edgar/data/1823529/000114036124019375/ny20024584x1_s3asr.htm" title="https://www.sec.gov/Archives/edgar/data/1823529/000114036124019375/ny20024584x1_s3asr.htm">https://www.sec.gov/Archives/edgar/data/1823529/000114036124019375/ny20024584x1_s3asr.htm</a>

Offerings

Enact Holdings Files For Mixed Shelf Offering; No Terms Disclosed - Filing

Keefe, Bruyette &amp; Woods analyst Bose George maintains Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) with a Outperform and raises the price target from $35 to $37.

Keefe, Bruyette & Woods Maintains Outperform on Enact Holdings, Raises Price Target to $37

JP Morgan analyst Richard Shane maintains Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) with a Neutral and raises the price target from $30 to $31.

JP Morgan Maintains Neutral on Enact Holdings, Raises Price Target to $31

Monday marks the last chance for investors to receive the next dividend payout from Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>). 
<h3>What's Happening</h3>
The company announced on Tuesday that it would pay shareholders a quarterly dividend of 16 cents per share. On Tuesday, Enact Holdings will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 16 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Tuesday. Shareholders who own ACT as of the end of Monday's session are eligible to receive the 16 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on March 13, 2024. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/ACT">See current stock movements Enact Holdings on Benzinga.</a>

Enact Holdings: Dividend Insights

Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) reported its Q4 earnings results on Tuesday, February 6, 2024 at 04:20 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Enact Holdings beat estimated earnings by 6.52%, reporting an EPS of $0.98 versus an estimate of $0.92.
Revenue was up $19.35 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.14 which was followed by a 0.87% increase in the share price the next day.
Here's a look at Enact Holdings's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.88</td>
<td>0.82</td>
<td>0.80</td>
<td>0.84</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.02</td>
<td>1.10</td>
<td>1.08</td>
<td>0.90</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>291.37M</td>
<td>285.54M</td>
<td>272.28M</td>
<td>277.25M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>299.04M</td>
<td>277.52M</td>
<td>280.94M</td>
<td>276.84M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Enact Holdings <a href="https://www.benzinga.com/quote/ACT/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: Enact Holdings Q4 Earnings

Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) reported quarterly earnings of $0.98 per share which beat the analyst consensus estimate of $0.92 by 6.52 percent. This is a 8.89 percent increase over earnings of $0.90 per share from the same period last year. The company reported quarterly sales of $296.19 million which missed the analyst consensus estimate of $299.81 million by 1.21 percent. This is a 6.99 percent increase over sales of $276.84 million the same period last year.

Enact Holdings Q4 Adj $0.98 Beats $0.92 Estimate, Total revenues $296.19M Miss $299.81M Estimate

In a report released today, Bose George from KBW maintained a Buy rating on Enact Holdings (ACT – Research Report), with a price target of $42.00. ...

Enact Holdings (ACT) Receives a Rating Update from a Top Analyst

Enact's flagship legal entity enters into two-quota share reinsurance agreements

Enact Holdings (ACT) announced that its flagship legal entity, Enact Mortgage Insurance Corporation, has entered into two quota share reinsurance a...

Enact Holdings enters two quota share reinsurance agreements

JPMorgan lowered the firm's price target on Enact Holdings (ACT) to $36 from $39 and keeps a Neutral rating on the shares. The firm says market out...

Enact Holdings price target lowered to $36 from $39 at JPMorgan

In a report released today, Mihir Bhatia from Bank of America Securities maintained a Buy rating on Enact Holdings (ACT – Research Report). The com...

Enact Holdings (ACT) Gets a Buy from Bank of America Securities

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Enact Holdings (ACT) announced that its legal entity, Enact Mortgage Insurance Corporation, has secured approximately $225M and $260M of additional...

Enact Holdings entity secures additional excess of loss reinsurance coverage

New insider activity at Enact Holdings ( ($ACT) ) has taken place on February 4, 2025. Genworth Holdings, Inc., a major shareholder in Enact Holdin...

Major Shareholder Makes a Bold Move with Enact Holdings Stock

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ESNT

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NAVI

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Press Releases

AM Best Upgrades Issuer Credit Ratings of Genworth Financial, Inc. and Genworth Holdings, Inc., Affirms Credit Ratings of U.S. Life Subsidiaries

Enact to Host Third Quarter 2024 Earnings Call November 7th

Genworth Financial Schedules Earnings Conference Call for November 7

Enact Reports Third Quarter 2024 Results And Announces Quarterly Dividend

Genworth Financial Announces Third Quarter 2024 Results

Financing

Enact Mortgage Insurance Enters into Two Quota Share Reinsurance Agreements

Genworth Financial Schedules Earnings Conference Call for February 19

Enact to Host Fourth Quarter 2024 Earnings Call February 5th

Enact Receives Ratings Upgrades from Fitch Ratings

General

Enact Mortgage Insurance Enters into Two Forward XOL Reinsurance Transactions as Part of its Diversified Credit Risk Transfer Program

Federal Agricultural Mortgage Corporation Common Stock

Federal Agricultural

Better Home & Finance Holding Company - Class A Common Stock

Better Home & Finance

CNFinance Holdings Limited American Depositary Shares, each representing twenty (20) Ordinary Shares

CNFinance Hldgs

Mr. Cooper Gr

Essent Group

Finance of America Companies Inc. Class A Common Stock

Finance of America

Greystone Housing Impact Investors LP Beneficial Unit Certificates representing assignments of limited partnership interests

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