Genworth Holdings sells $12.49 million in Enact Holdings inventory

Genworth Holdings, Inc. (NYSE:GNW) just lately bought 367,955 shares of Enact Holdings, Inc. (NASDAQ:ACT) widespread inventory, in accordance with a submitting with the Securities and Trade Fee. The shares had been bought at a mean value of $33.95 every, leading to a complete transaction worth of roughly $12.49 million. Enact Holdings, presently buying and selling at $32.38, maintains a market capitalization of almost $5 billion and boasts a robust monetary well being score in accordance with InvestingPro evaluation. Following this transaction, Genworth Holdings retains possession of 123,761,372 shares of Enact Holdings, sustaining its place as an 81% stakeholder within the firm. The sale was executed below a Share Repurchase Settlement, which was established in Could 2024. Buying and selling at a lovely P/E ratio of seven.48x and displaying robust profitability metrics, Enact Holdings seems barely undervalued primarily based on InvestingPro‘s complete Honest Worth evaluation, which subscribers can entry together with detailed monetary well being scores and extra ProTips.

In different latest information, Enact Holdings, Inc. has introduced a unanimous adoption of amended and restated bylaws by its Board of Administrators. This revision introduces a number of modifications to the corporate’s governance and shareholder engagement procedures, together with updates to the method for stockholder nominations of administrators and the submission of stockholder proposals. The brand new bylaws stipulate that any shareholder soliciting proxies should certify compliance with Rule 14a-19 below the Securities Trade Act of 1934.

In latest developments, Inapp reported an 11% year-over-year enhance in adjusted working revenue to $182 million for Q3 2024. The corporate’s major insurance coverage in pressure additionally climbed by $6 billion, reaching a complete of $268 billion. Regardless of a rise in new delinquencies, Inapp’s capital place remained robust, with PMIER sufficiency at 173% and $100 million returned to shareholders by buybacks and dividends.

Inapp additionally reported a robust efficiency within the third quarter of 2024, with an adjusted earnings per share (EPS) of $1.16. Nonetheless, the corporate skilled a rise in delinquencies and credit score losses in comparison with the earlier quarter. Regardless of these challenges, the corporate anticipates complete capital return for 2024 to be between $300 million and $350 million.

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