Enact Holdings IncACT
Price$44.15Intrinsic value$29.8132% below price

Qualitative Analysis

Business overview

Business Overview

Enact Holdings, Inc. (NASDAQ: ACT), formerly known as Genworth Mortgage Holdings, Inc., is a leading private mortgage insurance provider in the United States. Headquartered in Raleigh, North Carolina, the company operates primarily through its flagship subsidiary, Enact Mortgage Insurance Corporation. Enact provides essential credit protection to mortgage lenders and investors, covering a portion of the unpaid principal balance on low-down-payment residential mortgages. This credit enhancement facilitates the sale of conventional loans to government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac, thereby expanding access to homeownership for borrowers who cannot afford a traditional 20% down payment.

Research as of 19 Jun 2026

Strategic Initiatives

Growth programs, investments, and their expected impact

AI-assisted
Rate360 Pricing Engine OptimizationInnovation

Continued investment in and deployment of the Rate360 dynamic risk-adjusted pricing engine, which leverages AI and machine learning to enhance pricing precision at a granular level.

Expected impact: Enables Enact to target the right risk for the right price, maintaining underwriting discipline and margin resilience even in a volatile mortgage rate environment.

Sign in / Sign up to read more
InvestmentPart of ongoing growth and technology investments within the $215 million to $220 million operating expense guidance.
TimelineOngoing throughout 2026
Core Mortgage Insurance TransformationEfficiency

Transforming the core mortgage insurance business to maximize value and operational efficiency through technology and platform enhancements.

Expected impact: Improves operating performance, lowers the expense ratio, and enhances lender workflows to drive consistent premium flows.

Sign in / Sign up to read more
InvestmentIncluded in annual operating expense budget
TimelineMulti-year initiative
Disciplined Capital Return ProgramTransformation

Returning excess capital to shareholders through a combination of quarterly dividends and opportunistic share repurchases.

Expected impact: Maximizes shareholder value and optimizes the regulated capital structure while maintaining strong PMIERs sufficiency.

Sign in / Sign up to read more
InvestmentApproximately $500 million total capital return planned for 2026
TimelineFull year 2026
Sources: 2

Mergers, Acquisitions & Partnerships

Recent deals and strategic collaborations

AI-assisted

Strategic Partnerships

Genworth Holdings, Inc.Share Repurchase Agreement

Enact has an agreement with its parent company, Genworth Holdings, to repurchase Enact shares concurrently with its public buybacks to maintain Genworth's majority ownership interest.

Terms: Executed proportionally alongside Enact's $500 million share repurchase program.

Sign in / Sign up to read more
Highly Rated Reinsurance PanelQuota Share Reinsurance Agreements

Enact entered into quota share reinsurance agreements to cede approximately 27% of a portion of expected new insurance written for the 2025 and 2026 book years.

Terms: Cedes 27% of risk to optimize capital and manage credit risk exposure.

Sign in / Sign up to read more
AI-assisted, source-linked narrative; figures from company filings (SEC EDGAR) and market data. Dates shown per section. Not investment advice. Terms of Use.