Gold bars to be exempt from tariffs, White House clarifies
Genworth Holdings, Inc. (NYSE:GNW) recently sold 367,955 shares of Enact Holdings, Inc. (NASDAQ:ACT) common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of $33.95 each, resulting in a total transaction value of approximately $12.49 million. Enact Holdings, currently trading at $32.38, maintains a market capitalization of nearly $5 billion and boasts a strong financial health rating according to InvestingPro analysis. Following this transaction, Genworth Holdings retains ownership of 123,761,372 shares of Enact Holdings, maintaining its position as an 81% stakeholder in the company. The sale was executed under a Share Repurchase Agreement, which was established in May 2024. Trading at an attractive P/E ratio of 7.48x and showing strong profitability metrics, Enact Holdings appears slightly undervalued based on InvestingPro's comprehensive Fair Value analysis, which subscribers can access along with detailed financial health scores and additional ProTips.
In other recent news, Enact Holdings, Inc. has announced a unanimous adoption of amended and restated bylaws by its Board of Directors. This revision introduces several changes to the company's governance and shareholder engagement procedures, including updates to the process for stockholder nominations of directors and the submission of stockholder proposals. The new bylaws stipulate that any shareholder soliciting proxies must certify compliance with Rule 14a-19 under the Securities Exchange Act of 1934.
In recent developments, Inapp reported an 11% year-over-year increase in adjusted operating income to $182 million for Q3 2024. The company's primary insurance in force also climbed by $6 billion, reaching a total of $268 billion. Despite an increase in new delinquencies, Inapp's capital position remained strong, with PMIER sufficiency at 173% and $100 million returned to shareholders through buybacks and dividends.
Inapp also reported a strong performance in the third quarter of 2024, with an adjusted earnings per share (EPS) of $1.16. However, the company experienced an increase in delinquencies and credit losses compared to the previous quarter. Despite these challenges, the company anticipates total capital return for 2024 to be between $300 million and $350 million.
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