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Enact Holdings, Inc. - ACT STOCK NEWS

Welcome to our dedicated page for Enact Holdings news (Ticker: ACT), a resource for investors and traders seeking the latest updates and insights on Enact Holdings stock.

Enact Holdings, Inc. Common Stock (Nasdaq: ACT) operates as a holding company that provides private mortgage insurance services through its subsidiaries, primarily Enact Mortgage Insurance Corporation. Established in 1981 and headquartered in Raleigh, North Carolina, Enact plays a pivotal role in the U.S. housing finance market. The company's mortgage insurance services facilitate homeownership by protecting mortgage lenders and investors against losses caused by borrower defaults. Enact's principal customers include residential mortgage loan originators who select Enact for its extensive risk and capital management capabilities.

Enact boasts a robust financial foundation, underscored by its recent achievements and ongoing strategic initiatives. The company announced a quarterly dividend increase to $0.185 per common share, payable on June 13, 2024, and authorized a new share repurchase program of up to $250 million. These actions reflect Enact's strong financial position and commitment to shareholder returns.

The company also reported solid financial results for Q1 2024, with a net income of $161 million and an adjusted operating income of $166 million. Primary insurance in-force reached a record $264 billion, evidencing a 4% year-over-year increase. Enact's financial strength is further validated by its PMIERs sufficiency ratio of 163%, significantly above requirements.

Enact continues to innovate and enhance its service offerings. Recent integrations with PMI Rate Pro enable lenders to seamlessly order mortgage insurance via API, improving customer experience and operational efficiency. Additionally, Enact's commitment to ESG principles, highlighted in its 2023 ESG Report, demonstrates its dedication to sustainable business practices and positive community impact.

For investors and stakeholders, Enact Holdings, Inc. represents a stable and growth-oriented company with a strong track record of financial performance, strategic innovation, and shareholder value creation.

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Genworth Financial, Inc. (NYSE: GNW) has announced a postponement of its financial results for the period ending June 30, 2023, and earnings conference call. The release will now be on August 8, 2023, and the conference call will be on August 9, 2023. The delay is due to the need for additional time to complete GAAP accounting for long-term care insurance legal settlements under the new standard for long duration targeted improvements (LDTI). The accounting will only impact Genworth's LTC segment and will not affect Enact's results. The settlements are expected to have a net favorable economic impact to Genworth. The company's Board and management team remain confident in the company's strategy and future.
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Genworth Financial has authorized the repurchase of an additional $350 million of its Class A common stock, bringing the total available for purchase under the program to approximately $436 million. The company has already acquired 52 million shares at a purchase price of $264 million since May 2022.
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Genworth Financial, Inc. (NYSE: GNW) will release its second quarter results on August 1, 2023, followed by a conference call on August 2, 2023. Enact Holdings, Inc. (Nasdaq: ACT), Genworth's subsidiary, will also hold a conference call on August 2, 2023 to discuss its second quarter results.
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Genworth Financial reports Q1 2023 results with net income of $62 million and adjusted operating income of $84 million. Enact segment sees adjusted operating income of $143 million. Continued progress on long-term care insurance (LTC) multi-year rate action plan. U.S. life insurance companies' statutory pre-tax income of $192 million driving RBC ratio of 295%. Genworth executes $68 million in share repurchases in the quarter.
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FAQ

What is the current stock price of Enact Holdings (ACT)?

The current stock price of Enact Holdings (ACT) is $33.48 as of November 7, 2024.

What is the market cap of Enact Holdings (ACT)?

The market cap of Enact Holdings (ACT) is approximately 5.2B.

What services does Enact Holdings, Inc. provide?

Enact Holdings, Inc. provides private mortgage insurance services to mortgage lenders and investors through its subsidiary, Enact Mortgage Insurance Corporation.

When was Enact Holdings, Inc. established?

Enact Holdings, Inc. was established in 1981 and is headquartered in Raleigh, North Carolina.

What is Enact Holdings, Inc.'s stock symbol?

Enact Holdings, Inc. is traded on Nasdaq under the stock symbol ACT.

What was Enact Holdings, Inc.'s net income for Q1 2024?

Enact Holdings, Inc. reported a net income of $161 million for Q1 2024.

What is the current dividend per share declared by Enact Holdings, Inc.?

Enact Holdings, Inc. declared a quarterly dividend of $0.185 per common share, payable on June 13, 2024.

What is Enact Holdings, Inc.'s primary insurance in-force as of Q1 2024?

Enact Holdings, Inc.'s primary insurance in-force reached $264 billion in Q1 2024.

What strategic initiatives has Enact Holdings, Inc. recently announced?

Enact Holdings, Inc. announced a new $250 million share repurchase program and an increase in its quarterly dividend.

How does Enact Holdings, Inc. support environmental, social, and governance (ESG) principles?

Enact Holdings, Inc. published its 2023 ESG Report highlighting its progress on ESG priorities and commitment to sustainable business practices.

What recent integration did Enact Holdings, Inc. complete to enhance its services?

Enact Holdings, Inc. completed an integration with PMI Rate Pro, enabling lenders to order mortgage insurance directly through API, enhancing customer experience and efficiency.

Where can investors find more information about Enact Holdings, Inc.?

Investors can find more information about Enact Holdings, Inc. on its official website and investor relations page at https://ir.enactmi.com.

Enact Holdings, Inc.

Nasdaq:ACT

ACT Rankings

ACT Stock Data

5.21B
155.70M
80.79%
18.91%
0.62%
Insurance - Specialty
Insurance Agents, Brokers & Service
Link
United States of America
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