Enact Holdings (ACT) Declares $0.14 Dividend
Enact Holdings said on February 9, 2023 that its board of directors declared a regular quarterly dividend of $0.14 per share ($0.56 annualized). Shareholders of record as of February 22, 2023 will receive the payment on March 9, 2023. Previously, the company paid $0.14 per share.
At the current share price of $24.34 / share, the stock's dividend yield is 2.30%. Looking back five years and taking a sample every week, the average dividend yield has been 3.68%, the lowest has been 2.09%, and the highest has been 7.02%. The standard deviation of yields is 2.07 (n=34).
The current dividend yield is 0.67 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.39. 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.
Analyst Price Forecast Suggests 11.75% Upside
As of February 13, 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 11.75% from its latest reported closing price of $24.34.
The projected annual revenue for Enact Holdings is $1,132MM, an increase of 3.37%. The projected annual EPS is $3.30, a decrease of 23.80%.
What is the Fund Sentiment?
There are 245 funds or institutions reporting positions in Enact Holdings. This is an increase of 29 owner(s) or 13.43% in the last quarter. Average portfolio weight of all funds dedicated to ACT is 0.30%, a decrease of 10.61%. Total shares owned by institutions decreased in the last three months by 4.10% to 32,211K shares. The put/call ratio of ACT is 1.09, indicating a bearish outlook.
What are large shareholders doing?
Bayview Asset Management holds 13,910K shares representing 8.54% ownership of the company. In it's prior filing, the firm reported owning 14,871K shares, representing a decrease of 6.91%. The firm increased its portfolio allocation in ACT by 18.06% over the last quarter.
FLPSX - Fidelity Low-Priced Stock Fund holds 2,573K shares representing 1.58% ownership of the company. In it's prior filing, the firm reported owning 2,260K shares, representing an increase of 12.17%. The firm increased its portfolio allocation in ACT by 32.29% 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 1,001K shares representing 0.61% ownership of the company. In it's prior filing, the firm reported owning 967K shares, representing an increase of 3.37%. The firm increased its portfolio allocation in ACT by 11.34% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 826K shares representing 0.51% ownership of the company. In it's prior filing, the firm reported owning 820K shares, representing an increase of 0.71%. The firm increased its portfolio allocation in ACT by 8.40% 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.
This story originally appeared on Fintel.