NASDAQ$ACT
Enact Holdings Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Enact announced a dividend increase and a new share repurchase program.
Enact Holdings announced a 16% increase to its quarterly dividend and a new $250 million share repurchase program, reflecting the company's strong financial position and confidence in its business.
- Enact's Board of Directors declared a quarterly dividend of $0.185 per common share, a 16% increase from the prior quarter.
- The dividend is payable on June 13, 2024, to shareholders of record on May 29, 2024.
- Enact authorized a new share repurchase program, allowing the company to purchase up to $250 million of its common stock.
- As of April 26, 2024, $24 million remains available under the current $100 million share repurchase program.
Headline financials
Revenue & EPS history
Enact · Revenue · Quarterly
$292M
Revenue by segment
Enact · $278M total across 2 segments · Q4 2022
- Premiums$233M-1.8%83.8%
- Net Investment Income$44.9M+28.3%16.2%
Forward guidance
Enact's share repurchase program allows for opportunistic purchases of common stock, depending on various factors.
Tailwinds
- Share repurchases can be made through open market purchases.
- Share repurchases can be made through privately negotiated transactions.
- Purchases may be made under Rule 10b5-1 trading plans.
- Purchases may be made under Rule 10b-18 trading plans.
- Enact has entered into an agreement with Genworth Holdings, Inc. to repurchase its Enact shares on a pro rata basis as part of the program.
Headwinds
- The timing and amount of share repurchases will depend on Enact’s share price.
- The timing and amount of share repurchases will depend on capital availability.
- The timing and amount of share repurchases will depend on business and market conditions.
- The timing and amount of share repurchases will depend on regulatory requirements.
- The timing and amount of share repurchases will depend on debt covenant restrictions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.2%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+1.8%
Avg return
30 days after
61%
14 / 23 earnings
Positive
+8.9%
Q4 2025
Best reaction
-8.3%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.3% | +1.3% | -1.3% | |
| Q4 2025 | +8.9% | +5.1% | +2.8% | |
| Q3 2025 | +2.2% | +4.7% | +5.7% | |
| Q2 2025 | +1.0% | +4.3% | +9.4% | |
| Q1 2025 | +2.2% | +1.3% | -1.1% | |
| Q4 2024 | +1.5% | +1.0% | +1.4% | |
| Q3 2024 | +2.1% | +5.2% | +7.0% | |
| Q1 2024 | +0.9% | +5.3% | +3.3% | |
| Q4 2023 | -4.6% | -2.1% | +3.2% | |
| Q3 2023 | +1.2% | +1.4% | +1.2% | |
| Q2 2023 | +3.6% | +6.6% | +5.4% | |
| Q1 2023 | -7.7% | -0.8% | +4.9% | |
| Q4 2022 | -8.3% | -3.0% | -2.4% | |
| Q3 2022 | +1.8% | +0.4% | -3.3% | |
| Q2 2021 | +4.5% | +3.9% | -1.0% | |
| Q2 2022 | +7.9% | +12.8% | +6.2% | |
| Q1 2021 | -4.4% | -8.9% | +2.4% | |
| Q1 2022 | +5.8% | +1.2% | +7.1% | |
| Q4 2020 | -5.1% | -4.7% | +6.1% | |
| Q4 2019 | -5.1% | -4.7% | +6.1% | |
| Q4 2021 | -1.1% | -3.8% | -5.6% | |
| Q3 2020 | -0.6% | -3.9% | -9.4% | |
| Q3 2021 | +1.1% | +0.6% | -7.5% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — |
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