Enact Holdings, Inc. operates as a private mortgage insurance company in the United States. The company engages in writing and assuming residential ...
Enact Holdings, Inc. (NASDAQ: ACT) is the parent company of Enact Mortgage Insurance Corporation, a leading private mortgage insurer in the United States. Founded in 1981 and based in Raleigh, North Carolina, Enact provides residential mortgage guaranty insurance to a broad range of financial institutions, including large money center banks, non-bank lenders, national and local mortgage bankers, community banks, and credit unions. The company's core product is private mortgage insurance (PMI), which protects lenders against borrower default on residential mortgages, enabling borrowers to purchase homes with lower down payments. Enact also offers pool mortgage insurance, contract underwriting services, and mortgage-related reinsurance products, expanding its value proposition to clients. Financially, Enact demonstrates strong performance with a market capitalization around $6.83 billion, a price-to-earnings ratio of approximately 10.3, and a net profit margin of nearly 55%, reflecting efficient operations. The company's revenue per share is about $8.98, with a dividend yield of 1.8% as of the latest data, indicating a commitment to shareholder returns. With 419 full-time employees, Enact maintains a lean organizational structure while serving a vast network of over 1,800 lenders across the country. Under the leadership of President and CEO Rohit Gupta, who also serves as a director, Enact emphasizes responsible lending and homeownership. The company was formerly known as Genworth Mortgage Holdings, Inc. and rebranded to Enact in May 2021, marking a new chapter in its 40-year operating history. As a subsidiary of Genworth Holdings Inc., Enact benefits from strong parent backing while operating as a standalone publicly traded entity on NASDAQ since its IPO in September 2021. The company's business model is asset-light with minimal capital expenditures, generating substantial free cash flow, which underpins its ability to invest in technology, expand product offerings, and maintain industry-leading credit quality. Enact's mission centers on helping more people responsibly achieve and maintain the dream of homeownership, and its strategic focus includes prudent risk management, customer-centric innovation, and sustainable growth in the evolving housing finance market.
