Enact Holdings (ACT) Declares $0.16 Dividend
Enact Holdings said on February 20, 2024 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Previously, the company paid $0.16 per share.
Shareholders of record as of February 28, 2024 will receive the payment on March 13, 2024.
At the current share price of $26.94 / share, the stock's dividend yield is 2.38%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.66%, the lowest has been 2.09%, and the highest has been 9.40%. The standard deviation of yields is 2.27 (n=110).
The current dividend yield is 1.01 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.62. 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.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is -0.48%.
What is the Fund Sentiment?
There are 387 funds or institutions reporting positions in Enact Holdings. This is an increase of 52 owner(s) or 15.52% in the last quarter. Average portfolio weight of all funds dedicated to ACT is 0.21%, a decrease of 16.69%. Total shares owned by institutions decreased in the last three months by 0.04% to 31,773K shares. 
The put/call ratio of ACT is 0.21, indicating a bullish outlook.
Analyst Price Forecast Suggests 21.16% Upside
As of February 24, 2024, the average one-year price target for Enact Holdings is 32.64. The forecasts range from a low of 30.30 to a high of $36.75. The average price target represents an increase of 21.16% from its latest reported closing price of 26.94.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Enact Holdings is 1,220MM, an increase of 5.75%. The projected annual non-GAAP EPS is 3.34.
What are Other Shareholders Doing?
Bayview Asset Management holds 4,411K shares representing 2.76% ownership of the company. In it's prior filing, the firm reported owning 6,742K shares, representing a decrease of 52.84%. The firm decreased its portfolio allocation in ACT by 14.98% over the last quarter.
FLPSX - Fidelity Low-Priced Stock Fund holds 2,695K shares representing 1.69% ownership of the company. In it's prior filing, the firm reported owning 2,706K shares, representing a decrease of 0.40%. The firm increased its portfolio allocation in ACT by 13.96% over the last quarter.
Glendon Capital Management holds 1,299K shares representing 0.81% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 989K shares representing 0.62% ownership of the company. No change in the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 822K shares representing 0.51% ownership of the company. In it's prior filing, the firm reported owning 834K shares, representing a decrease of 1.51%. The firm increased its portfolio allocation in ACT by 11.92% 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.
Additional reading:
- Amended and Restated Memorandum and Articles of Association of Allergan plc, dated as of May 8, 2020.
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