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. operates as a U.S. private mortgage insurance provider serving the housing finance market through Enact Mortgage Insurance Corporation. Company news centers on mortgage insurance earnings, primary insurance in force, credit performance, PMIERs capital sufficiency, book value measures, and the operating environment for residential mortgage lending.
Recurring updates also cover capital management, including quarterly dividends, share repurchase authorizations, and capital returns. Enact's disclosures describe its work with mortgage lenders and loan originators, its underwriting and risk-management role in residential mortgage guaranty insurance, and its position as a publicly traded subsidiary of Genworth Financial.
Genworth Financial (NYSE: GNW) announced the results of its 2024 annual meeting of stockholders. All nine director nominees were re-elected, including G. Kent Conrad and Karen E. Dyson. Stockholders also approved executive officer compensation and ratified KPMG LLP as the independent accounting firm for 2024. Additionally, stockholders passed an Amended and Restated Certificate of Incorporation, removing references to legacy GE provisions and granting stockholders the right to request a special meeting at a 25% ownership threshold. These changes will take effect early next month.
Enact Holdings (Nasdaq: ACT) has announced the pricing of a $750 million public offering of 6.25% Senior Notes due 2029. The settlement is expected on May 28, 2024, subject to customary closing conditions. The notes will pay interest semi-annually at a rate of 6.25% per year, maturing on May 28, 2029. Proceeds from this offering, along with other funds, will be used to redeem Enact's 6.50% Senior Notes due August 2025. J.P. Morgan Securities, Citigroup Global Markets, and Goldman Sachs are acting as joint book-running managers for the offering. The notes are offered under an automatic shelf registration statement filed with the SEC.
Enact Holdings, Inc. (Nasdaq: ACT) reported strong financial results for Q1 2024, with a GAAP Net Income of $161 million and Adjusted Operating Income of $166 million. The company achieved a Return on Equity of 13.8% and a record Primary insurance in-force of $264 billion. Enact also highlighted its capital allocation strategy and commitment to shareholders through dividends and share repurchases.
Genworth Financial, Inc. (NYSE: GNW) reported strong Q1 2024 results with net income of $139M, or $0.31 per diluted share. Enact had a solid quarter with adjusted operating income of $135M and announced a new share repurchase program. CareScout expanded its Quality Network. The company repurchased $63M in shares, increased its dividend, and maintained a strong financial position.
Enact Holdings, a leading provider of private mortgage insurance, announced a 16% increase in its quarterly dividend to $0.185 per common share. The company also introduced a new $250 million share repurchase program, in addition to its existing $100 million program. The decision reflects Enact's strong financial position and commitment to creating long-term value for shareholders.
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