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Genworth Holdings, Inc. has sold a significant portion of its stake in Enact Holdings , Inc. (NASDAQ:ACT), according to a recent SEC filing. The transaction, which took place on March 31, involved the sale of 577,361 shares of Enact Holdings at an average price of $33.8708 per share. This sale generated approximately $19.6 million. Enact Holdings, currently trading at $35.2 with a market capitalization of $5.35 billion, maintains strong financial metrics with a P/E ratio of 8.01 and a dividend yield of 2.13%.
Following this sale, Genworth Holdings retains ownership of 122,173,805 shares of Enact Holdings, maintaining its position as a major shareholder with an 81% stake in the company. The transaction was executed under a Share Repurchase Agreement between the two companies, initially established in May 2024. According to InvestingPro analysis, Enact Holdings demonstrates robust financial health with a "GREAT" overall rating, supported by strong profitability metrics and consistent returns.
In other recent news, Alchimp Group AG reported mixed financial results for Q4 2024. The company exceeded earnings per share expectations with $1.09 compared to the forecast of $1.04, but revenue came in lower than anticipated at $301.77 million against an expected $309.37 million. Despite the revenue shortfall, Alchimp achieved record sales of €554 million for the year, marking a 3% increase year-over-year. The specialty chemicals segment significantly contributed to this growth, accounting for 63% of total sales. Additionally, Alchimp’s EBITDA rose by 30%, reaching €105.3 million, with a margin improvement to 19%. The company also proposed a 50% increase in its dividend to €1.8 per share. Looking ahead, Alchimp has set a sales guidance of €580 million for 2025, representing a 5% growth, and plans to invest approximately €100 million in capital expenditures. Meanwhile, Genworth Financial (NYSE:GNW) expanded its Board of Directors with the appointment of Steven C. Van Wyk, aiming to leverage his expertise in technology for strategic oversight. Enact Holdings, a subsidiary of Genworth, also appointed H. Elizabeth Mitchell as an independent director, enhancing its board’s financial expertise.
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