Enact Holdings (NASDAQ:ACT) Stock, Quote.Headers.trade-ideas

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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Now that third-quarter earnings season is over for the mortgage insurance, one analyst refreshed his coverage for the group on Wednesday, including issuing two downgrades.

The Analyst: Bank of America analyst Mihir Bhatia issued the following changes to his mortgage insurance coverage:

Analyst Downgrades 2 Mortgage Insurers, Names Top Stock Pick

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One of the most recent companies to make the transition from privately owned to publicly traded is Enact Holdings Inc. (NASDAQ: ACT), a Raleigh, North Carolina-headquartered provider of private mortgage insurance.

EXCLUSIVE: Enact Holdings&#39; CEO Rohit Gupta On The Mortgage Insurer&#39;s Decision To Go Public

Enact Holdings Inc

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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.

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

Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-02-06. Here's what investors need to know before the announcement.
Analysts estimate that Enact Holdings will report an earnings per share (EPS) of $0.92. 
Enact Holdings bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat 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 and the resulting price change:

<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>Price Change %</td>
<td>0.87%</td>
<td>4.22%</td>
<td>-6.17%</td>
<td>-7.21%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1707152471_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Enact Holdings were trading at $28.0 as of February 02. Over the last 52-week period, shares are up 19.94%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<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.

Enact Holdings's Earnings: A Preview

Under the agreement, and subject to certain conditions, Enact will cede approximately&nbsp;21%&nbsp;of a portion of expected new insurance written for the period from January 1, 2024 through December 31, 2024.

Enact Mortgage Insurance Enters Quota Share Reinsurance Agreement With Broad Panel Of Reinsurers

UBS analyst Douglas Harter initiates coverage on Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) with a Neutral rating and announces Price Target of $29.

Initiation

UBS Initiates Coverage On Enact Holdings with Neutral Rating, Announces Price Target of $29

WIIM

Enact Holdings shares are trading higher after B of A Securities upgraded the stock from Neutral to Buy.

B of A Securities analyst Mihir Bhatia upgrades Enact Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACT#NASDAQ">ACT</a>) from Neutral to Buy and announces $30 price target.

Upgrades

B of A Securities Upgrades Enact Holdings to Buy, Announces $30 Price Target

Enact Q3 2023 Adj. EPS $1.02 Beats $0.89 Estimate

Enact Declares Special Cash Dividend Of $0.71/Share

Goldman Sachs analyst Ryan Nash 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 $26 to $29.

Goldman Sachs Maintains Neutral on Enact Holdings, Raises Price Target to $29

Enact Holdings shares are trading higher after the company reported better-than-expected Q2 adjusted EPS results. Additionally, the company announced a new $100 million share repurchase program.

Enact Holdings, Inc. (ACT) Q1 2024 Earnings Call Transcript

Enact prices $750M senior notes

Small-cap, buy-rated stocks with positive estimate revision factors - BofA

Enact Holdings: Defensive Play In A Corner Of The Housing Market

Enact Holdings declares $0.185 dividend

Enact Holdings GAAP EPS of $1.16

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Enact Holdings (NASDAQ:<a href="https://investorplace.com/stock-quotes/act-stock-quote/">ACT</a>) just reported results for the second quarter of 2024.<ul><li>Enact Holdings reported earnings per share of $1.27. This was above the analyst estimate for EPS of 98 cents.</li><li>The company reported revenue of $298.83 million.</li><li>This was better than the analyst estimate for revenue of $298.83 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/07/act-stock-earnings-enact-holdings-for-q2-of-2024/">ACT Stock Earnings: Enact Holdings Beats EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

ACT Stock Earnings: Enact Holdings Beats EPS, Beats Revenue for Q2 2024

KBW analyst Bose George assigned a Buy rating to Enact Holdings (ACT – Research Report) yesterday and set a price target of $38.00. The company's s...

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

Enact Holdings, Inc. (ACT) Q2 2024 Earnings Call Transcript

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Press Releases

Enact to Participate at the 2024 TD Financial Services and Fintech Summit

Contracts

Enact Completes XOL Reinsurance Transaction as Part of its Diversified Credit Risk Transfer Program

Enact to Host Second Quarter 2024 Earnings Call August 1st

Genworth Financial Schedules Earnings Conference Call for August 1

Enact Reports Second Quarter 2024 Results and Announces Quarterly Dividend

Genworth Financial Announces Second Quarter 2024 Results

General

Enact Re, Ltd. Receives A- Rating from S&P Global Ratings

Financing

Enact Provides Update on Capital Position Under New PMIERs Available Asset Guidelines

AM Best Affirms Credit Ratings of Enact Holdings, Inc. and Operating Subsidiaries

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

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Enact Holdings

Enact Holdings (ACT) Forecast

Enact Holdings (NASDAQ:ACT) Stock, Quote.Headers.trade-ideas