Enact Holdings

ACT · NASDAQ

$46.85+$0.67 (+1.45%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $46.18

ACT analyst rating

HoldConsensus of 4 analysts over the last 12 months. 25% rate it a buy.

Strong buy0
Buy1
Hold2
Underperform1
Sell0

12-month price target · 7 analysts

Average $47.12 (+0.6% upside)

Low: $28.25
Now: $46.85
High: $55.65

Upgrades and downgrades

The latest rating actions, newest first

ACT analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 12, 2026	Downgrade	Neutral → Underweight	$48.00 → $44.00	56%
Keefe, Bruyette & Woods	Aug 10, 2026	Maintains	Market Perform	$44.00 → $49.00	53%
RBC Capital	Aug 7, 2026	Maintains	Sector Perform	$46.00 → $50.00	44%
JP Morgan	Aug 7, 2026	Maintains	Neutral	$46.00 → $48.00	56%
JP Morgan	Jul 13, 2026	Maintains	Neutral	$45.00 → $46.00	56%
RBC Capital	Jun 25, 2026	Initiates	Sector Perform	$46.00	44%
B of A Securities	Apr 21, 2026	Maintains	Buy	$48.00 → $49.00	54%
JP Morgan	Feb 5, 2026	Maintains	Neutral	$40.00 → $44.00	56%
Keefe, Bruyette & Woods	Feb 5, 2026	Maintains	Market Perform	$43.00 → $44.00	53%
JP Morgan	Jan 12, 2026	Maintains	Neutral	$39.00 → $40.00	56%

The case for and against

Updated Oct 18, 2026

Bull case

Enact Holdings is viewed favorably because it is generating strong core margins and excess capital, supported by conservative claims assumptions, favorable reserve development, and a high-quality portfolio with roughly 17% in-force market share, 740+ FICO dominance, and nearly 80% of loans at 95% or below LTV. Its capital return story is compelling, with FY26 guidance lifted to $550M-$600M and expectations for sizable buybacks, while contingency reserve unlocks are projected to rise from $342M in 2026 to north of $500M by 2030, reinforcing liquidity and earnings visibility. Even with challenging origination growth, the company’s 150%+ PMIERs sufficiency ratio, reinsurance protection, and rising net investment income from a 4.5% book yield and a roughly 4.9-year duration support durable profitability and resilient book value growth.

Bear case

Enact Holdings is viewed negatively because its mono-line mortgage insurance model limits growth, with flattish premium expansion, slower new business origination from rate challenges, and limited diversification outside mortgage insurance. Credit fundamentals also appear vulnerable as margins are expected to deteriorate from record performance, the in-force book enters peak loss years, and a recession or higher unemployment could quickly worsen claims and earnings. Regulatory and capital risks remain material, since PMIERs can force more capital against delinquent loans, constrain buybacks, and reduce long-term ROE while parent ownership by Genworth may create conflicts that weigh on returns.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.