Jun 2026 (Q2 FY26) — Aug 6, 2026
Enact Q2 FY26 — Increased Capital Return and Strong Credit Performance
Read the full callEnact (ACT) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Enact earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 317 | +4.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | Quarterly, as filed | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. |
Guidance
What management said, and what became of it
6 of 6 judged targets kept · 3 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Capital return to shareholders | approximately $500 million | Dec 2025 | As a result of our strong performance, we are updating our 2026 capital return expectations to between $550 million and $600 million, up from our prior guidance of $500 million. | Revised Up |
| Base premium rate | relatively flat versus 2025 | Dec 2025 | our base premium rate outlook really remains consistent with our 2026 guidance that we gave at the beginning of the year that we expect it to be relatively flat versus 2025. | On Track |
3 of Enact Holdings, Inc.'s 9 targets are still open. See which are on track and which have gone quiet. The 2 above are the free sample; 7 more targets are in the full ledger.
Claimed
- Updated 2026 capital return expectations to $550 million-$600 million, up from prior guidance of $500 million.
- Adjusted operating income of $177 million or $1.26 per diluted share.
- Generated strong new insurance written (NIW) of $15 billion, up 19% sequentially and 15% year-over-year.
- Primary insurance in force (IIF) of $274 billion, up $1 billion or 1% sequentially and $4 billion or 2% year-over-year.
- PMIERs sufficiency ratio was 151% or $1.9 billion above requirements.
Qualified
- Persistency was 80%, flat sequentially and down 2 points year-over-year on lower prevailing mortgage rates.
- Base premium rate of 39.1 basis points, down 0.3 basis points sequentially.
- Operating expenses in Q2 FY26 were $52 million, up from $49 million sequentially.
- New delinquency rate increased 10 basis points from Q2 FY25, though consistent with pre-pandemic levels.
Price
$46.18 −0.22% · −$0.1
Performance +30.0% 1Y
1Y: $35.53 on 17 Oct 2025 → $46.18. High $50.07 (14 Sept 2026), low $34.93 (29 Oct 2025).
- Previous close
- $46.28
- 52-week range
- $34.93 – $50.07
- One year
- +29.17%
Overview
- Symbol
- ACT
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
6 of 6 judged targets kept · 3 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Capital return to shareholders | approximately $500 million | Dec 2025 | As a result of our strong performance, we are updating our 2026 capital return expectations to between $550 million and $600 million, up from our prior guidance of $500 million. | Revised Up |
| Base premium rate | relatively flat versus 2025 | Dec 2025 | our base premium rate outlook really remains consistent with our 2026 guidance that we gave at the beginning of the year that we expect it to be relatively flat versus 2025. | On Track |
Claimed
- Updated 2026 capital return expectations to $550 million-$600 million, up from prior guidance of $500 million.
- Adjusted operating income of $177 million or $1.26 per diluted share.
- Generated strong new insurance written (NIW) of $15 billion, up 19% sequentially and 15% year-over-year.
- Primary insurance in force (IIF) of $274 billion, up $1 billion or 1% sequentially and $4 billion or 2% year-over-year.
- PMIERs sufficiency ratio was 151% or $1.9 billion above requirements.
Qualified
- Persistency was 80%, flat sequentially and down 2 points year-over-year on lower prevailing mortgage rates.
- Base premium rate of 39.1 basis points, down 0.3 basis points sequentially.
- Operating expenses in Q2 FY26 were $52 million, up from $49 million sequentially.
- New delinquency rate increased 10 basis points from Q2 FY25, though consistent with pre-pandemic levels.
The full ledger
Open Enact Holdings, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 9 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 6, 2026
Enact Q1 FY26 — Strong Start with Resilient Credit and Increased Capital Returns
Read the full callEvery analysed call
Enact earnings calls (ACT)
Financials
What the filings say
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 310 | 302 | 307 | 305 | 311 | 313 | 312 | 317 |
| Interest | 12 | 12 | 12 | 12 | 13 | 12 | 12 | 12 |
| Profit before tax | 229 | 208 | 211 | 215 | 210 | 223 | 213 | 220 |
| Tax rate | 21.3% | 21.7% | 21.6% | 21.8% | 22.1% | 20.6% | 21.4% | 20.5% |
| EPS ($ per share) | 1.16 | — | 1.09 | 1.12 | 1.11 | — | 1.18 | 1.25 |
| Line item | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Equity capital | — | 2 | 2 | 2 | 2 | 2 | 1 |
| Reserves | — | 1,303 | 1,648 | 2,100 | 2,550 | 3,125 | 3,677 |
| Total liabilities | — | 1,771 | 1,760 | 1,608 | 1,558 | 1,525 | 1,538 |
| Investments | — | 0 | 0 | 3 | 20 | 3 | 0 |
| Total assets | — | 5,653 | 5,866 | 5,709 | 6,190 | 6,522 | 6,893 |
| Line item | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Cash from operations | 500 | 704 | 572 | 561 | 632 | 686 | 725 |
| Cash from investing | 176 | -1,137 | -399 | -220 | -229 | -321 | -226 |
| Cash from financing | -250 | 300 | -200 | -252 | -301 | -382 | -515 |
| Net cash flow | 426 | -132 | -27 | 88 | 102 | -16 | -17 |
ACT operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| New insurance written | $13BAdjusted return on equity was 13%, and we generated strong new insurance written of $13 billion, resulting in total insurance in force of $272 billion.Source: earnings call transcript | $15BAdjusted return on equity was 13%, and we generated strong new insurance written of $15 billion, resulting in insurance in force of $274 million.Source: earnings call transcript | +15.4% |
| Risk-weighted average FICO score | 746In fact, our Insurance-in-Force portfolio remains resilient with a risk-weighted average FICO score of 746, risk-weighted average loan-to-value ratio of 93% and and layered risk was 1.2% of risk in-force.Source: earnings call transcript | 746Our insurance in force portfolio remains resilient with a risk-weighted average credit score of 746 and a risk-weighted average loan-to-value ratio of 93%.Source: earnings call transcript | 0% |
| Risk-weighted average loan-to-value ratio | 93%In fact, our Insurance-in-Force portfolio remains resilient with a risk-weighted average FICO score of 746, risk-weighted average loan-to-value ratio of 93% and and layered risk was 1.2% of risk in-force.Source: earnings call transcript | 93%Our insurance in force portfolio remains resilient with a risk-weighted average credit score of 746 and a risk-weighted average loan-to-value ratio of 93%.Source: earnings call transcript | 0 pt |
| PMIER sufficiency ratio | 162%At the end of the quarter, our PMIER sufficiency ratio was 162%, providing significant financial flexibility and our credit and investment portfolios are in excellent shape.Source: earnings call transcript | 151%At the end of the quarter, our PMIERs sufficiency ratio was 151%, providing significant financial flexibility and our credit and investment portfolios were in excellent shape.Source: earnings call transcript | -11 pt |
| Base premium rate | 39.4 basis pointsOur base premium rate of 39.4 basis points was down 0.2 basis points sequentially, in line with our expectations.Source: earnings call transcript | 39.1 basis pointsOur base premium rate of 39.1 basis points was down 0.3 basis points sequentially.Source: earnings call transcript | -0.8% |
| Net earned premium rate | 34.3 basis pointsOur net earned premium rate was 34.3 basis points, down 0.5 basis points sequentially, driven by higher ceded premiums.Source: earnings call transcript | 34.1 basis pointsOur net earned premium rate was 34.1 basis points, down 0.2 basis points sequentially and aligned with the decrease in base premium rate.Source: earnings call transcript | -0.6% |
| Average portfolio book yield | 4.5%Our new money investment yield of 5% contributed to an increase in the average portfolio book yield of 4.5% for the quarter.Source: earnings call transcript | 4.6%Our new money investment yield was over 5% and contributed to an increase in the average portfolio book yield to 4.6% for the quarter.Source: earnings call transcript | +0.1 pt |
| New delinquencies | 13.6KNew delinquencies decreased sequentially to 13,600 in the quarter from 13,700 in the fourth quarter of 2025, in line with expected seasonal trends.Source: earnings call transcript | 12.3KNew delinquencies decreased sequentially to 12,300 in the quarter from 13,500 in the first quarter of 2026, in line with expected seasonal trends.Source: earnings call transcript | -9.6% |
| New delinquency rate | 1.5%Our new delinquency rate for the quarter remained consistent with pre-pandemic levels at 1.5%, flat from the fourth quarter of 2025 and an increase of 20 basis points from the first quarter of 2025.Source: earnings call transcript | 1.3%Our new delinquency rate for the quarter remained consistent with prepandemic levels at 1.3%, down 20 basis points from the first quarter of 2026 and an increase of 10 basis points from the second quarter of 2025.Source: earnings call transcript | -0.2 pt |
| Total delinquencies | 24.7KTotal delinquencies in the first quarter decreased sequentially to 24,700 from 24,900 and the delinquency rate was flat sequentially at 2.6%.Source: earnings call transcript | 24.3KTotal delinquencies in the second quarter decreased sequentially to 24,300 from 24,700 and the delinquency rate was flat sequentially at 2.6%.Source: earnings call transcript | -1.6% |
| Delinquency rate | 2.6%Total delinquencies in the first quarter decreased sequentially to 24,700 from 24,900 and the delinquency rate was flat sequentially at 2.6%.Source: earnings call transcript | 2.6%Total delinquencies in the second quarter decreased sequentially to 24,300 from 24,700 and the delinquency rate was flat sequentially at 2.6%.Source: earnings call transcript | 0 pt |
| PMIERs capital credit Third-party CRT program | $1.9BOur PMIER sufficiency was 162% or $1.9 billion above PMIERs requirements, and our third-party CRT program provides $1.9 billion of PMIERs capital credit at the end of the first quarter.Source: earnings call transcript | $1.5BOur PMIER sufficiency was 151% or $1.9 billion above PMIERs requirements, and our third-party CRT program, provides $1.5 billion of PMIERs capital credit at the end of the quarter.Source: earnings call transcript | -21.1% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
69 filings between Oct 31, 2025 and Oct 1, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$351.51M
19 sales by 6 insiders
Compensation
not trading decisions- 25
- Option exercise — converted options into shares
- 25
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Genworth Holdings, Inc. | — | $348.50M | Sep 30, 2026 |
| Stolove Evan | — | $991.7K | Aug 17, 2026 |
| Gould Brian | — | $947.2K | Jun 1, 2026 |
| RESTREPO ROBERT P JR | — | $588.7K | Feb 11, 2026 |
| Derstine Michael | — | $379.9K | Mar 2, 2026 |
| McMullen James | — | $104.1K | Mar 6, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 1, 2026 | McMullen James Controller | Tax withheld | 253 | $11.2K |
| Oct 1, 2026 | McMullen James Controller | Option exercise | 887 | — |
| Sep 30, 2026 | Genworth Holdings, Inc. 10% owner | Sale | 762,894 | $37.12M |
| Aug 31, 2026 | Genworth Holdings, Inc. 10% owner | Sale | 687,379 | $33.95M |
| Aug 17, 2026 | Stolove Evan EVP, Gen. Counsel & Secretary | Sale | 20,024 | $991.7K |
| Jul 31, 2026 | Genworth Holdings, Inc. 10% owner | Sale | 523,226 | $24.03M |
| Jun 30, 2026 | Genworth Holdings, Inc. 10% owner | Sale | 605,067 | $25.58M |
| Jun 1, 2026 | Gould Brian EVP & Chief Operations Officer | Sale | 23,000 | $947.2K |
| May 29, 2026 | Genworth Holdings, Inc. 10% owner | Sale | 602,440 | $25.85M |
| Apr 30, 2026 | Genworth Holdings, Inc. 10% owner | Sale | 560,453 | $23.85M |
| Apr 1, 2026 | McMullen James Controller | Option exercise | 594 | — |
| Apr 1, 2026 | McMullen James Controller | Tax withheld | 169 | $6.9K |
| Mar 31, 2026 | Genworth Holdings, Inc. 10% owner | Sale | 820,567 | $33.58M |
| Mar 6, 2026 | McMullen James Controller | Sale | 2,500 | $104.1K |
| Mar 2, 2026 | Derstine Michael EVP and Chief Risk Officer | Sale | 9,000 | $379.9K |
| Feb 27, 2026 | Genworth Holdings, Inc. 10% owner | Sale | 398,731 | $16.82M |
| Feb 24, 2026 | Stolove Evan EVP, Gen. Counsel & Secretary | Tax withheld | 5,851 | $242.6K |
| Feb 24, 2026 | Stolove Evan EVP, Gen. Counsel & Secretary | Option exercise | 19,072 | — |
| Feb 24, 2026 | Gould Brian EVP & Chief Operations Officer | Tax withheld | 4,468 | $185.2K |
| Feb 24, 2026 | Mitchell Hardin Dean EVP, CFO and Treasurer | Option exercise | 42,616 | — |
| Feb 24, 2026 | Gupta Rohit President and CEO | Option exercise | 190,594 | — |
| Feb 24, 2026 | Gould Brian EVP & Chief Operations Officer | Option exercise | 15,710 | — |
| Feb 24, 2026 | Derstine Michael EVP and Chief Risk Officer | Tax withheld | 5,341 | $221.4K |
| Feb 24, 2026 | Derstine Michael EVP and Chief Risk Officer | Option exercise | 17,952 | — |
| Feb 24, 2026 | Gupta Rohit President and CEO | Tax withheld | 82,795 | $3.43M |
| Feb 24, 2026 | Mitchell Hardin Dean EVP, CFO and Treasurer | Tax withheld | 17,723 | $734.8K |
| Feb 20, 2026 | Stolove Evan EVP, Gen. Counsel & Secretary | Option exercise | 2,029 | — |
| Feb 20, 2026 | Mitchell Hardin Dean EVP, CFO and Treasurer | Tax withheld | 1,442 | $59.7K |
| Feb 20, 2026 | Mitchell Hardin Dean EVP, CFO and Treasurer | Option exercise | 5,068 | — |
| Feb 20, 2026 | Stolove Evan EVP, Gen. Counsel & Secretary | Tax withheld | 578 | $23.9K |
| Feb 20, 2026 | Derstine Michael EVP and Chief Risk Officer | Tax withheld | 578 | $23.9K |
| Feb 20, 2026 | Derstine Michael EVP and Chief Risk Officer | Option exercise | 2,029 | — |
| Feb 20, 2026 | Gould Brian EVP & Chief Operations Officer | Option exercise | 1,623 | — |
| Feb 20, 2026 | Gould Brian EVP & Chief Operations Officer | Tax withheld | 462 | $19.1K |
| Feb 20, 2026 | Gupta Rohit President and CEO | Option exercise | 15,197 | — |
| Feb 20, 2026 | McMullen James Controller | Option exercise | 690 | — |
| Feb 20, 2026 | Gupta Rohit President and CEO | Tax withheld | 6,602 | $273.5K |
| Feb 20, 2026 | McMullen James Controller | Tax withheld | 233 | $9.7K |
| Feb 17, 2026 | Stolove Evan EVP, Gen. Counsel & Secretary | Tax withheld | 714 | $30.9K |
| Feb 17, 2026 | Gupta Rohit President and CEO | Option exercise | 18,771 | — |
| Feb 17, 2026 | Gould Brian EVP & Chief Operations Officer | Tax withheld | 595 | $25.8K |
| Feb 17, 2026 | Stolove Evan EVP, Gen. Counsel & Secretary | Option exercise | 2,508 | — |
| Feb 17, 2026 | Derstine Michael EVP and Chief Risk Officer | Tax withheld | 712 | $30.8K |
| Feb 17, 2026 | Derstine Michael EVP and Chief Risk Officer | Option exercise | 2,508 | — |
| Feb 17, 2026 | McMullen James Controller | Tax withheld | 277 | $12.0K |
| Feb 17, 2026 | Gupta Rohit President and CEO | Tax withheld | 8,155 | $353.0K |
| Feb 17, 2026 | Gould Brian EVP & Chief Operations Officer | Option exercise | 2,009 | — |
| Feb 17, 2026 | Mitchell Hardin Dean EVP, CFO and Treasurer | Tax withheld | 1,781 | $77.1K |
| Feb 17, 2026 | Mitchell Hardin Dean EVP, CFO and Treasurer | Option exercise | 6,262 | — |
| Feb 17, 2026 | McMullen James Controller | Option exercise | 820 | — |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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