Overview

* Enact Holdings ( ACT ) Q3 revenue slightly beats analyst expectations

* Adjusted diluted operating income per share beats analyst expectations

* Company raises full-year capital return guidance to $500 mln

Outlook

* Enact raises full-year capital return guidance to $500 mln

* Company secures new $435 mln five-year revolving credit facility

* Enact positions for evolving housing market with financial flexibility

Result Drivers

* PRIMARY INSURANCE IN-FORCE - Increased 2% year-over-year to $272 bln, indicating stable demand

* EXPENSE MANAGEMENT - Operating expenses remained stable at $53 mln, maintaining an expense ratio of 22%

* INVESTMENT INCOME - Net investment income increased to $69 mln, driven by higher interest rates and invested assets

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Slight $311.46 $310.30

Revenue Beat* mln mln (3

Analysts

)

Q3 Adj. Beat $1.12 $1.07 (5

Diluted Analysts

Operatin )

g Income

per

share

Q3 EPS $1.10

Q3 Net $163 mln

Income

Q3 $166 mln

Adjusted

Operatin

g Income

Q3 22.00%

Expense

Ratio

Q3 ROE 12.40%

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the property & casualty insurance peer group is "buy."

* Wall Street's median 12-month price target for Enact Holdings Inc ( ACT ) is $40.00, about 8.8% above its November 4 closing price of $36.48

* The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)