Latest news with #Enact
Business Insider
05-05-2025
- Business
- Business Insider
Enact Holdings downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette downgraded Enact Holdings (ACT) to Market Perform from Outperform with an unchanged price target of $39. The firm cites valuation for the downgrade, saying the shares are now trading near its price target The analyst remains constructive on Enact's longer-term prospects, but thinks the shares are fairly valued at the current juncture. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Associated Press
30-04-2025
- Business
- Associated Press
Enact Reports First Quarter 2025 Results
GAAP Net Income of$166 million, or$1.08per diluted share Adjusted Operating Income of$169 million, or$1.10per diluted share Return on Equity of13.1%and Adjusted Operating Return on Equity of13.4% Primary Insurance in-force of$268 billion, a2%increase fromfirstquarter 2024 PMIERs Sufficiency of165%or approximately$2.0 billion Book Value Per Share of$33.96and Book Value Per Share excluding AOCI of$34.97 RALEIGH, N.C., April 30, 2025 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) today announced financial results for the first quarter of 2025. 'We had a strong start to 2025 and continue to make progress against our priorities,' stated Rohit Gupta, President and CEO of Enact. 'We continued to prudently underwrite new business, invest in our business, maintain expense discipline, and return substantial capital to our shareholders. Looking ahead, Enact is well positioned to navigate an uncertain economic backdrop. We are committed to executing against all aspects of our strategy and are doing so from a position of robust liquidity and financial strength. We believe the long-term drivers of housing demand remain in place, and we look forward to continuing to create value for all our stakeholders.' Key Financial Highlights First Quarter 2025 Financial and Operating Highlights Capital and Liquidity Recent Events Conference Call and Financial Supplement Information This press release, the first quarter 2025 financial supplement and earnings presentation are now posted on the Company's website, Investors are encouraged to review these materials. Enact will discuss first quarter financial results in a conference call tomorrow, Thursday, May 1, 2025, at 8:00 a.m. (Eastern). Participants interested in joining the call's live question and answer session are required to pre-register by clicking here to obtain your dial-in number and unique PIN. It is recommended to join at least 15 minutes in advance, although you may register ahead of the call and dial in at any time during the call. If you wish to join the call but do not plan to ask questions, a live webcast of the event will be available on our website, The webcast will also be archived on the Company's website for one year. About Enact Enact (Nasdaq: ACT), operating principally through its wholly-owned subsidiary Enact Mortgage Insurance Corporation since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders' businesses and a legacy of financial strength, we partner with lenders to bring best-in class service, leading underwriting expertise, and extensive risk and capital management to the mortgage process, helping to put more people in homes and keep them there. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina. Safe Harbor Statement This communication contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results, the related assumptions underlying our expected results, guidance concerning the future return of capital and the quotations of management. These forward-looking statements are distinguished by use of words such as 'will,' 'may,' 'would,' 'anticipate,' 'expect,' 'believe,' 'designed,' 'plan,' 'predict,' 'project,' 'target,' 'could,' 'should,' or 'intend,' the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. Our forward-looking statements contained herein speak only as of the date of this press release. Factors or events that we cannot predict, including risks related to an economic downturn or a recession in the United States and in other countries around the world; changes in political, business, regulatory, and economic conditions; changes in or to Fannie Mae and Freddie Mac (the 'GSEs'), whether through Federal legislation, restructurings or a shift in business practices; failure to continue to meet the mortgage insurer eligibility requirements of the GSEs; competition for customers; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs, including those offered by the Federal Housing Administration; and other factors described in the risk factors contained in our most recent Annual Report on Form 10-K and other filings with the SEC, may cause our actual results to differ from those expressed in forward-looking statements. Although Enact believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, Enact can give no assurance that its expectations will be achieved and it undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law. GAAP/Non-GAAP Disclosure Discussion This communication includes the non-GAAP financial measures entitled 'adjusted operating income (loss)', 'adjusted operating income (loss) per share,' and 'adjusted operating return on equity.' Enact Holdings, Inc. (the 'Company') defines adjusted operating income (loss) as net income (loss) excluding the after-tax effects of net investment gains (losses), restructuring costs and infrequent or unusual non-operating items, and gain (loss) on the extinguishment of debt. The Company excludes net investment gains (losses), gains (losses) on the extinguishment of debt and infrequent or unusual non-operating items because the Company does not consider them to be related to the operating performance of the Company and other activities. The recognition of realized investment gains or losses can vary significantly across periods as the activity is highly discretionary based on the timing of individual securities sales due to such factors as market opportunities or exposure management. Trends in the profitability of our fundamental operating activities can be more clearly identified without the fluctuations of these realized gains and losses. We do not view them to be indicative of our fundamental operating activities. Therefore, these items are excluded from our calculation of adjusted operating income. In addition, adjusted operating income (loss) per share is derived from adjusted operating income (loss) divided by shares outstanding. Adjusted operating return on equity is calculated as annualized adjusted operating income for the period indicated divided by the average of current period and prior periods' ending total stockholders' equity. While some of these items may be significant components of net income (loss) in accordance with U.S. GAAP, the Company believes that adjusted operating income (loss) and measures that are derived from or incorporate adjusted operating income (loss), including adjusted operating income (loss) per share on a basic and diluted basis and adjusted operating return on equity, are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the business. Management also uses adjusted operating income (loss) as a basis for determining awards and compensation for senior management and to evaluate performance on a basis comparable to that used by analysts. Adjusted operating income (loss) and adjusted operating income (loss) per share on a basic and diluted basis are not substitutes for net income (loss) available to Enact Holdings, Inc.'s common stockholders or net income (loss) available to Enact Holdings, Inc.'s common stockholders per share on a basic and diluted basis determined in accordance with U.S. GAAP. In addition, the Company's definition of adjusted operating income (loss) may differ from the definitions used by other companies. Adjustments to reconcile net income (loss) available to Enact Holdings, Inc.'s common stockholders to adjusted operating income (loss) assume a 21% tax rate. The tables at the end of this press release provide a reconciliation of net income (loss) to adjusted operating income (loss) and U.S. GAAP return on equity to adjusted operating return on equity for the three months ended March 31, 2025 and 2024, as well as for the three months ended December 31, 2024. Exhibit A: Consolidated Statements of Income (amounts in thousands, except per share amounts) Exhibit B: Consolidated Balance Sheets (amounts in thousands, except per share amounts) This press release was published by a CLEAR® Verified individual. Investor Contact Daniel Kohl [email protected] Media Contact Sarah Wentz [email protected]
Yahoo
28-03-2025
- Business
- Yahoo
Enact Releases 2024 Sustainability Report
RALEIGH, N.C., March 28, 2025 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) today announced the release of its 2024 Sustainability Report covering the calendar year 2024. This report continues Enact's transparency on its progress in areas vital to its sustainability pillars, priorities identified as critical to Enact's long-term success by internal and external stakeholders. This year's report provides new insights into Enact's approach to sustainability with spotlights on additional facets of Enact's sustainability initiatives, such as our third party risk management program, professional development programs, and Hurricane Helene relief response. 'On behalf of the Enact team, I am pleased to share our 2024 Sustainability Report,' said Rohit Gupta, President and CEO of Enact. 'Enact remains committed to helping build stronger communities through homeownership, philanthropy, and volunteerism and we know that our continued growth and profitability are contingent in part on our continued focus on sustainability. This year's report shows the areas where we're focusing and the progress we're making as we continue to deliver for all of our stakeholders.' Enact's 2024 Sustainability Report is available on Enact's Investor Relations website at Safe Harbor Statement This communication contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results, the related assumptions underlying our expected results, guidance concerning the future return of capital and the quotations of management. These forward-looking statements are distinguished by use of words such as 'will,' 'may,' 'would,' 'anticipate,' 'expect,' 'believe,' 'designed,' 'plan,' 'predict,' 'project,' 'target,' 'could,' 'should,' or 'intend,' the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. Our forward-looking statements contained herein speak only as of the date of this press release. Factors or events that we cannot predict, including risks related to an economic downturn or a recession in the United States and in other countries around the world; changes in political, business, regulatory, and economic conditions; changes in or to Fannie Mae and Freddie Mac (the 'GSEs'), whether through Federal legislation, restructurings or a shift in business practices; failure to continue to meet the mortgage insurer eligibility requirements of the GSEs; competition for customers; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs, including those offered by the Federal Housing Administration; and other factors described in the risk factors contained in our most recent Annual Report on Form 10-K and other filings with the SEC, may cause our actual results to differ from those expressed in forward-looking statements. Although Enact believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, Enact can give no assurance that its expectations will be achieved and it undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law. About Enact Holdings, (Nasdaq: ACT), operating principally through its wholly-owned subsidiary Enact Mortgage Insurance Corporation since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders' businesses and a legacy of financial strength, we partner with lenders to bring best-in class service, leading underwriting expertise, and extensive risk and capital management to the mortgage process, helping to put more people in homes and keep them there. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina. This press release was published by a CLEAR® Verified individual. CONTACT: Investor Contact Daniel Kohl EnactIR@ Media Contact Sarah Wentz in to access your portfolio
Associated Press
28-03-2025
- Business
- Associated Press
Enact Releases 2024 Sustainability Report
RALEIGH, N.C., March 28, 2025 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) today announced the release of its 2024 Sustainability Report covering the calendar year 2024. This report continues Enact's transparency on its progress in areas vital to its sustainability pillars, priorities identified as critical to Enact's long-term success by internal and external stakeholders. This year's report provides new insights into Enact's approach to sustainability with spotlights on additional facets of Enact's sustainability initiatives, such as our third party risk management program, professional development programs, and Hurricane Helene relief response. 'On behalf of the Enact team, I am pleased to share our 2024 Sustainability Report,' said Rohit Gupta, President and CEO of Enact. 'Enact remains committed to helping build stronger communities through homeownership, philanthropy, and volunteerism and we know that our continued growth and profitability are contingent in part on our continued focus on sustainability. This year's report shows the areas where we're focusing and the progress we're making as we continue to deliver for all of our stakeholders.' Enact's 2024 Sustainability Report is available on Enact's Investor Relations website at Safe Harbor Statement This communication contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results, the related assumptions underlying our expected results, guidance concerning the future return of capital and the quotations of management. These forward-looking statements are distinguished by use of words such as 'will,' 'may,' 'would,' 'anticipate,' 'expect,' 'believe,' 'designed,' 'plan,' 'predict,' 'project,' 'target,' 'could,' 'should,' or 'intend,' the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. Our forward-looking statements contained herein speak only as of the date of this press release. Factors or events that we cannot predict, including risks related to an economic downturn or a recession in the United States and in other countries around the world; changes in political, business, regulatory, and economic conditions; changes in or to Fannie Mae and Freddie Mac (the 'GSEs'), whether through Federal legislation, restructurings or a shift in business practices; failure to continue to meet the mortgage insurer eligibility requirements of the GSEs; competition for customers; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs, including those offered by the Federal Housing Administration; and other factors described in the risk factors contained in our most recent Annual Report on Form 10-K and other filings with the SEC, may cause our actual results to differ from those expressed in forward-looking statements. Although Enact believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, Enact can give no assurance that its expectations will be achieved and it undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law. About Enact Holdings, Inc. Enact (Nasdaq: ACT), operating principally through its wholly-owned subsidiary Enact Mortgage Insurance Corporation since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders' businesses and a legacy of financial strength, we partner with lenders to bring best-in class service, leading underwriting expertise, and extensive risk and capital management to the mortgage process, helping to put more people in homes and keep them there. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina.
