Moody's upgraded Enact Holdings' ratings, reflecting strong performance and stability in private mortgage insurance services.
Quiver AI Summary
Enact Holdings, Inc. announced that Moody's Investor Service has upgraded the insurance financial strength rating of its subsidiary, Enact Mortgage Insurance Corporation, from A3 to A2. Additionally, Moody's increased Enact Holdings’ long-term issuer rating and senior unsecured debt rating from Baa3 to Baa2, with a stable outlook for both. This marks the fourth upgrade for Enact since its IPO in 2021, reflecting the company's effective execution and strong performance, according to CEO Rohit Gupta. Enact, a leading private mortgage insurance provider based in Raleigh, North Carolina, emphasizes its commitment to helping people achieve homeownership while delivering exceptional service and leveraging its extensive experience in the industry.
Potential Positives
- Moody’s upgraded the insurance financial strength rating for Enact Mortgage Insurance Corporation to A2 from A3, reflecting improved financial stability.
- Enact Holdings, Inc.’s long-term issuer rating and senior unsecured debt rating were upgraded to Baa2 from Baa3, indicating a stronger credit profile.
- This marks Enact's fourth upgrade from Moody’s since IPO in 2021, highlighting consistent performance and successful strategic execution.
- The stable outlook for the ratings suggests confidence in the company's future performance and resilience in the market.
Potential Negatives
- The press release includes a substantial amount of forward-looking statements that explicitly warn investors about potential risks and uncertainties, which may indicate a lack of stability in future performance.
- Factors such as potential economic downturns, regulatory changes, and increased competition pose significant risks that could negatively impact the company's operations and financial results.
- The mention of reliance on maintaining mortgage insurer eligibility requirements from GSEs suggests vulnerability to external conditions beyond the company's control.
FAQ
What recent rating upgrade did Enact Holdings receive?
Enact Holdings' insurance subsidiary received an upgrade from Moody’s to A2 from A3.
How many times has Enact's rating been upgraded since its IPO?
This is Enact's fourth upgrade from Moody’s since their IPO in 2021.
What is the new long-term issuer rating for Enact Holdings?
Enact Holdings’ long-term issuer rating has been upgraded to Baa2 from Baa3.
What does the stable outlook for ratings signify?
The stable outlook indicates that Moody’s expects Enact to maintain its current financial strength and performance.
What is Enact Holdings' main business focus?
Enact Holdings focuses on providing private mortgage insurance to help more people achieve homeownership.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ACT Insider Trading Activity
$ACT insiders have traded $ACT stock on the open market 12 times in the past 6 months. Of those trades, 0 have been purchases and 12 have been sales.
Here’s a breakdown of recent trading of $ACT stock by insiders over the last 6 months:
- HOLDINGS, INC. GENWORTH has made 0 purchases and 6 sales selling 3,762,942 shares for an estimated $131,731,129.
- BRIAN GOULD (EVP & Chief Operations Officer) sold 15,000 shares for an estimated $504,000
- ROBERT P JR RESTREPO sold 10,000 shares for an estimated $347,150
- EVAN STOLOVE (EVP, Gen. Counsel & Secretary) has made 0 purchases and 2 sales selling 8,261 shares for an estimated $280,366.
- MICHAEL DERSTINE (EVP and Chief Risk Officer) sold 7,000 shares for an estimated $236,390
- JAMES MCMULLEN (Controller) sold 4,000 shares for an estimated $145,780
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$ACT Hedge Fund Activity
We have seen 125 institutional investors add shares of $ACT stock to their portfolio, and 106 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FMR LLC removed 899,732 shares (-98.5%) from their portfolio in Q1 2025, for an estimated $31,265,687
- BANK OF AMERICA CORP /DE/ added 746,196 shares (+452.7%) to their portfolio in Q1 2025, for an estimated $25,930,311
- FINANCIAL HARVEST, LLC removed 545,462 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $20,263,913
- MILLENNIUM MANAGEMENT LLC added 313,662 shares (+84.2%) to their portfolio in Q1 2025, for an estimated $10,899,754
- CITADEL ADVISORS LLC removed 255,654 shares (-62.1%) from their portfolio in Q1 2025, for an estimated $8,883,976
- DIMENSIONAL FUND ADVISORS LP added 251,301 shares (+12.3%) to their portfolio in Q1 2025, for an estimated $8,732,709
- ROYCE & ASSOCIATES LP added 225,403 shares (+inf%) to their portfolio in Q1 2025, for an estimated $7,832,754
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$ACT Price Targets
Multiple analysts have issued price targets for $ACT recently. We have seen 3 analysts offer price targets for $ACT in the last 6 months, with a median target of $40.0.
Here are some recent targets:
- Richard Shane from JP Morgan set a target price of $39.0 on 07/11/2025
- Bose George from Keefe, Bruyette & Woods set a target price of $40.0 on 07/07/2025
- Douglas Harter from UBS set a target price of $40.0 on 05/05/2025
Full Release
RALEIGH, N.C., Aug. 07, 2025 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) a leading provider of private mortgage insurance through its insurance subsidiaries, today announced that Moody’s Investor Service (“Moody’s”) upgraded the insurance financial strength rating for our flagship insurance subsidiary, Enact Mortgage Insurance Corporation, to A2 from A3. Moody’s also announced the upgrade of Enact Holdings, Inc.’s long-term issuer rating and senior unsecured debt rating to Baa2 from Baa3. The outlook for the ratings is stable.
“This represents Enact’s fourth upgrade from Moody’s since our IPO in 2021,” said Rohit Gupta, Enact’s President and Chief Executive Officer. “This milestone reflects our disciplined execution and consistent delivery of excellent results. We remain confident in our business model and are well-positioned to continue to serve our lenders and their borrowers while driving long term value for our shareholders.”
Additional information regarding the rating changes can be found in the full report issued by Moody’s.
About Enact Holdings, Inc.
Enact
(Nasdaq: ACT), operating principally through its wholly-owned subsidiary Enact Mortgage Insurance Corporation since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders' businesses and a legacy of financial strength, we partner with lenders to bring best-in class service, leading underwriting expertise, and extensive risk and capital management to the mortgage process, helping to put more people in homes and keep them there. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina.
Safe Harbor Statement
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may address, among other things, our expected financial and operational results, the related assumptions underlying our expected results and the quotations of management. These forward-looking statements are distinguished by use of words such as “will,” “may,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” “predict,” “project,” “target,” “could,” “should,” or “intend,” the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. Our forward-looking statements contained herein speak only as of the date of this press release. Factors or events that we cannot predict, including risks related to an economic downturn or recession in the United States and in other countries around the world; changes in political, business, regulatory, and economic conditions; changes in or to Fannie Mae and Freddie Mac (the “GSEs”), whether through Federal legislation, restructurings or a shift in business practices; failure to continue to meet the mortgage insurer eligibility requirements of the GSEs; competition for customers; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs, including those offered by the Federal Housing Administration; and other factors described in the risk factors contained in our most recent Annual Report on Form 10-K and other filings with the SEC, may cause our actual results to differ from those expressed in forward-looking statements. Although Enact believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, Enact can give no assurance that its expectations will be achieved and it undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.