Overview

• Enact Holdings 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

*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 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: ID:nGNX9xVMxW

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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.)