Enact
Insurer of low-down-payment U.S. home loans and provider of mortgage underwriting services.
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Profile
Writes private mortgage insurance for low-down-payment U.S. home loans, collecting premiums in exchange for covering part of lenders' and investors' losses when borrowers default. A single Mortgage Insurance segment also provides selective portfolio coverage, mortgage-related reinsurance, and fee-based contract underwriting, with results tied to GSE eligibility and housing credit conditions.
Insures low-down-payment residential mortgages across the United States, primarily through Enact Mortgage Insurance Corporation. Primary mortgage insurance covers part of a loan's unpaid principal balance when borrowers default; selective portfolio and credit insurance, mortgage-related reinsurance, and fee-based contract underwriting extend the offering. Premiums provide the core revenue stream, supplemented by income from invested insurance assets.
Underwriting and pricing draw on loan-level data, lender integrations, and portfolio monitoring, while credit-risk transfer helps absorb loss volatility and manage required capital. Results depend on mortgage originations, borrower defaults, home prices, policy persistency, and continued eligibility with Fannie Mae and Freddie Mac. State insurance rules and GSE capital standards constrain operations, and Genworth remains the controlling parent following the minority public offering.
Company facts
Key statistics
Year to date +23.8% · Average volume (30d) 379.0K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jun 25, 2026 | RBC Capital | Initiate | Sector Perform | $47 | $46 | |
| Feb 5, 2026 | Goldman Sachs | Target | $45 | $50 | ||
| Jan 12, 2026 | UBS | Target | $33 | $40 | ||
| Jan 6, 2026 | Goldman Sachs | Target | $45 | |||
| May 5, 2025 | Keefe, Bruyette & Woods | Downgrade | Outperform | Market Perform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $1.19 | $1.26 | +5.9% | $315.8M | $317.3M | +0.5% | +1.76% |
| May 5, 2026Q1 FY26 | $1.21 | $1.21 | 0.0% | $314.9M | $312.1M | −0.9% | +1.77% |
| Feb 3, 2026Q4 FY25 | $1.09 | $1.23 | +12.8% | $317.0M | $312.7M | −1.4% | +9.27% |
| Nov 5, 2025Q3 FY25 | $1.12 | $1.12 | 0.0% | $315.6M | $311.5M | −1.3% | +2.25% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $306.9M | $304.6M | $311.5M | $311.5M | $312.1M | $317.3M | |
| Gross profit | $223.8M | $226.5M | $222.7M | $293.7M | $274.9M | $284.0M | |
| Operating income | $211.4M | $214.5M | $209.8M | $223.1M | $213.4M | $220.0M | |
| Net income | $165.8M | $167.8M | $163.5M | $177.2M | $167.8M | $174.8M | |
| Diluted EPS | $1.08 | $1.11 | $1.10 | $1.22 | $1.18 | $1.25 | |
| Gross margin | 72.9% | 74.4% | 71.5% | 94.3% | 88.1% | 89.5% | |
| Operating margin | 68.9% | 70.4% | 67.4% | 71.6% | 68.4% | 69.3% |
Fiscal years (4-quarter sums)FY21 $1.12B · FY22 $1.09B · FY23 $1.15B · FY24 $1.20B · FY25 $1.23B
Balance sheet, Jun 30, 2026Cash & short-term investments $6.61B · Total debt $744.9M · Total assets $6.96B · Shareholders' equity $5.40B
Dividends
Raised for 2 straight years — most recently to $0.24 from $0.21 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 20, 2026 | Aug 20 | Sep 17 | $0.24 | |
| May 28, 2026 | May 28 | Jun 18 | $0.24 | raised from $0.21 |
| Feb 26, 2026 | Feb 26 | Mar 19 | $0.21 | |
| Nov 21, 2025 | Nov 21 | Dec 11 | $0.21 | |
| Aug 18, 2025 | Aug 18 | Sep 8 | $0.21 | |
| May 19, 2025 | May 19 | Jun 11 | $0.21 | raised from $0.185 |
| Feb 21, 2025 | Feb 21 | Mar 14 | $0.185 | |
| Nov 18, 2024 | Nov 18 | Dec 5 | $0.185 |
Ownership
Shares outstanding 139.60M · Float 27.17M · 19.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Genworth Holdings, Inc. · 10 percent owner | 111.08M | 79.57% | Form 4 | Aug 3, 2026 |
| BlackRock, Inc. | 4.66M | 3.34% | 13F | May 13, 2026 |
| Dimensional Fund Advisors LP | 3.00M | 2.15% | 13F | May 7, 2026 |
| Vanguard Portfolio Management LLC | 1.74M | 1.25% | 13F | May 15, 2026 |
| First Trust Advisors LP | 1.40M | 1.00% | 13F | May 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | Evan Stolove | officer: EVP, Gen. Counsel & Secretary | −20,024 | $49.52 |
| Jul 31, 2026 | Genworth Holdings, Inc. | 10 percent owner | −523,226 | $45.92 |
| Jun 30, 2026 | Genworth Holdings, Inc. | 10 percent owner | −605,067 | $42.28 |
| May 29, 2026 | Genworth Holdings, Inc. | 10 percent owner | −602,440 | $42.91 |
| Apr 30, 2026 | Genworth Holdings, Inc. | 10 percent owner | −560,453 | $42.55 |
Peers
- MGIC Investment
Large private MI peer with the industry's biggest 2025 NIW base
- Arch Capital Group
Direct U.S. mortgage-insurance peer with broader CRT reach
- Radian Group
Large private MI peer shifting toward broader specialty insurance
- Essent Group
Private MI and reinsurance peer serving U.S. lenders
- National MI
GSE-approved private MI peer focused on lender execution
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Enact | $49.07 | +0.03% | $6.85B | 10.3 | 9.9 | 5.5 | +4.2% |
| MGIC Investment | $30.99 | −0.06% | $6.36B | 9.7 | 9.6 | 5.3 | −2.9% |
| Arch Capital Group | $97.15 | −1.71% | $34.53B | 7.7 | 10.5 | 1.8 | −22.3% |
| Radian Group | $36.41 | 0.00% | $4.84B | 9.3 | 7.3 | 2.9 | +80.9% |
| Essent Group | $69.30 | +0.57% | $6.35B | 9.6 | 9.1 | 4.8 | +13.6% |
| National MI | $40.84 | −8.87% | $3.40B | 8.8 | 8.4 | 4.7 | −9.4% |
| Median | 9.3 | 9.1 | 4.7 | −2.9% |