Top Buys by Directors: Gupta's $269.7K Bet on ACT

The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $269.7K by Rohit Gupta, CEO at Enact Holdings Inc (Symbol: ACT).

Purchased Insider Title Shares Price/Share Value
02/23/2024 Rohit Gupta President and CEO 10,000 $26.97 $269,690.00

Gupta's average cost works out to $26.97/share. Shares of Enact Holdings Inc were changing hands at $27.97 at last check, trading up about 1% on Monday. The chart below shows the one year performance of ACT shares, versus its 200 day moving average:

Enact Holdings Inc Chart

Looking at the chart above, ACT's low point in its 52 week range is $21.0801 per share, with $29.74 as the 52 week high point — that compares with a last trade of $27.97.

The current annualized dividend paid by Enact Holdings Inc is $0.64/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 02/27/2024. Below is a long-term dividend history chart for ACT, which can be of good help in judging whether the most recent dividend with approx. 2.3% annualized yield is likely to continue.

ACT+Dividend+History+Chart

Click here to find out which other top insider buys by company directors you need to know about »

Also see:

• BDC Baby Bonds and Preferreds
• Funds Holding BPFH
• Funds Holding FLC

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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