Fintel reports that on May 9, 2023, B of A Securities upgraded their outlook for Enact Holdings (NASDAQ:ACT) from Underperform to Neutral .
Analyst Price Forecast Suggests 11.48% Upside
As of April 24, 2023, the average one-year price target for Enact Holdings is 27.20. The forecasts range from a low of 24.74 to a high of $31.50. The average price target represents an increase of 11.48% from its latest reported closing price of 24.40.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Enact Holdings is 1,132MM, an increase of 2.31%. The projected annual non-GAAP EPS is 3.30.
Enact Holdings Declares $0.16 Dividend
On May 1, 2023 the company declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Shareholders of record as of May 31, 2023 will receive the payment on June 14, 2023. Previously, the company paid $0.14 per share.
At the current share price of $24.40 / share, the stock's dividend yield is 2.62%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.81%, the lowest has been 2.09%, and the highest has been 7.77%. The standard deviation of yields is 2.08 (n=76).
The current dividend yield is 0.57 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.40. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 1.75%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 264 funds or institutions reporting positions in Enact Holdings. This is an increase of 21 owner(s) or 8.64% in the last quarter. Average portfolio weight of all funds dedicated to ACT is 0.31%, an increase of 12.89%. Total shares owned by institutions increased in the last three months by 0.03% to 33,112K shares. 
The put/call ratio of ACT is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Bayview Asset Management holds 13,527K shares representing 8.34% ownership of the company. In it's prior filing, the firm reported owning 13,910K shares, representing a decrease of 2.83%. The firm increased its portfolio allocation in ACT by 15.92% over the last quarter.
FLPSX - Fidelity Low-Priced Stock Fund holds 2,577K shares representing 1.59% ownership of the company. In it's prior filing, the firm reported owning 2,573K shares, representing an increase of 0.17%. The firm decreased its portfolio allocation in ACT by 8.51% over the last quarter.
Glendon Capital Management holds 1,299K shares representing 0.80% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 989K shares representing 0.61% ownership of the company. In it's prior filing, the firm reported owning 1,001K shares, representing a decrease of 1.21%. The firm decreased its portfolio allocation in ACT by 0.73% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 839K shares representing 0.52% ownership of the company. In it's prior filing, the firm reported owning 826K shares, representing an increase of 1.59%. The firm increased its portfolio allocation in ACT by 2.34% over the last quarter.
Enact Holdings Background Information
(This description is provided by the company.)
Enact Holdings, Inc. operates as a holding company. Through its subsidiaries, Enact provides mortgage insurance services to mortgage lenders and investors.
See all Enact Holdings regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
