GAAP Net Income of $184 million, or $1.16 per diluted shareAdjusted Operating Income of $201 million, or $1.27 per diluted shareReturn on Equity of 15.4% and Adjusted Operating Return on Equity of 16.9%Record Primary insurance in-force of $266 billion, a 3% increase from second quarter 2023PMIERs Sufficiency of 169% or $2,057 millionBook Value Per Share of $30.91 and Book Value Per Share excluding AOCI of $32.43Announces quarterly cash dividend of $0.185 per common share RALEIGH, N.C., July 31, 2024 (GLOBE ...

- Sickle cell disease affects approximately 100,000 patients in the U.S. annually and is a debilitating and life-threatening condition with high unmet need- Current conditioning with non-targeted chemotherapies provides limited access to potentially curative bone marrow transplant and recently approved gene therapies for sickle cell disease patients- Initial trial focused on conditioning for bone marrow transplant intended to inform subsequent gene therapy conditioning study and provide broader access to ce ...

Core Insights - The median home price in the United States has risen significantly over the past decade, recently reaching nearly $435,000, which has led to frustrations among potential home buyers [1] - Mortgage insurers, including Enact Holdings, Radian Group, and MGIC Investment Corp., have outperformed the S&P 500 index over the last two years despite a decline in home sales and refinancing activity [2][3] - Enact Holdings has shown growth in revenue, with total revenue for Q1 2024 at $291.6 million, up from $280.9 million in the previous year, driven by rising premiums and investment income [6] Industry Overview - Home sales are projected to remain low in 2024, with an annual level trending to less than 4.5 million transactions, marking a significant decline compared to previous years [3] - The volume of mortgage insurance sold is closely tied to mortgage originations and refinancing, which are currently affected by high interest rates, limiting refinancing activity [3][4] - Despite the challenges in the housing market, mortgage insurers have managed to maintain strong performance, indicating potential resilience in the sector [4] Company Analysis: Enact Holdings - Enact Holdings was spun out from Genworth Financial and has seen its shares underperform relative to the broader market recently, with a total return of approximately 8.9% compared to 18.1% for the S&P 500 [5][6] - The company reported a net income drop to $161.0 million in Q1 2024 from $176.0 million in the previous year, attributed to increased incurred losses [6] - Enact's balance sheet remains strong, with total assets increasing by $113 million and liquidity in excellent shape, allowing for a dividend increase and share repurchase program [6] Valuation and Future Outlook - The mortgage insurance sector is currently trading at a premium to book value, with Enact Holdings holding the lowest premium among its peers, indicating a fully valued status [8] - Expectations for interest rate cuts could lead to increased housing inventory and potentially boost transaction volumes, benefiting Enact Holdings [7][9] - The company is expected to see gradual appreciation in share price in line with book value, but significant upside appears limited unless market conditions change favorably [9]

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Enact Holdings, Inc. (ACT) , which belongs to the Zacks Insurance - Multi line industry, could be a great candidate to consider.This company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 6.97%.For the most recent quarter, ...

RALEIGH, N.C., July 09, 2024 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) announced it will issue its second quarter earnings release after the market closes on July 31, 2024. Enact will host a conference call to review second quarter 2024 financial results on August 1, 2024 at 8:00 a.m. (ET). Enact’s earnings release, summary presentation and financial supplement will be available through the company's website, https://ir.enactmi.com/, at the time of their release to the public. Participa ...

RALEIGH, N.C., July 09, 2024 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) announced it will issue its second quarter earnings release after the market closes on July 31, 2024. Enact will host a conference call to review second quarter 2024 financial results on August 1, 2024 at 8:00 a.m. (ET). Enact’s earnings release, summary presentation and financial supplement will be available through the company's website, https://ir.enactmi.com/, at the time of their release to the public. Participa ...

RALEIGH, N.C., June 27, 2024 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (NASDAQ:ACT) (Enact), a leading provider of private mortgage insurance through its insurance subsidiaries, today announced that its flagship legal entity, Enact Mortgage Insurance Corporation, has secured approximately $90 million of additional excess of loss (XOL) reinsurance coverage. This credit risk transfer (CRT) transaction covers a portion of existing mortgage insurance policies written from July 1, 2023 through December 31, 2023 a ...

RALEIGH, N.C., June 27, 2024 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact), a leading provider of private mortgage insurance through its insurance subsidiaries, today announced that its flagship legal entity, Enact Mortgage Insurance Corporation, has secured approximately $90 million of additional excess of loss (XOL) reinsurance coverage. This credit risk transfer (CRT) transaction covers a portion of existing mortgage insurance policies written from July 1, 2023 through December 31, 2023 ...

Wall Street’s popular adages are not matching this year. April is historically known as being favorable to investors. But this year, April ended on a disappointing note. For May, the popular adage is “Sell and Go Away.” However, May 2024 turned out highly successful for U.S. stock markets.The three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — were up 2.3%, 4.8% and 6.9%, respectively. The tech-heavy Nasdaq Composite recorded its best month since November 2023. On May 31, the blue-ch ...

RALEIGH, N.C., June 04, 2024 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (NASDAQ:ACT) (Enact) today announced that the company's President and Chief Executive Officer, Rohit Gupta, will participate in a fireside chat at the 2024 TD Financial Services and Fintech Summit on Thursday, June 6, 2024 at 4:15 pm Eastern Time. The fireside chat will be webcast live here, and a replay of the fireside chat can be accessed within 24 hours of the conclusion of the event on the company's website, https://ir.enactmi.com, un ...