At the last check on Friday, Enact Holdings Inc.’s (NASDAQ:ACT) stock was up $0.65, moving up 2.27 percent to $29.25. The average number of shares traded per day over the past five days has been 222,359 shares. 2 times new highs have been achieved over the past 5 days, with a $1.68 gain in that time frame. In the last twenty days, the average volume was 238,755, while in the previous 50 days, it was 246,296.
Since last month, ACT stock rose 16.49%. Shares of the company fell to $24.93 on 07/06/23, the lowest level in the past month. A 52-week high of $29.74 was reached on 08/02/23 after having rallying from a 52-week low of $20.72. Since the beginning of this year, ACT’s stock price has risen by 21.27% or $4.89, and marked a new high 18 times. However, the stock has declined by -1.65% since its 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
ACT stock investors should be aware that Enact Holdings Inc. (ACT) stock had its last reported insider trading activity 4 days ago on Jul 31. Genworth Holdings, Inc., the 10% Owner of the company, disposed of 197,332 shares for $25.96 on Jul 31. It resulted in a $5,122,877 divestment by the insider. Genworth Holdings, Inc. sold 332,166 shares at an average price of $25.15 on Jun 29. The insider now owns 130,686,851 shares following the transaction. On May 31, 10% Owner Genworth Holdings, Inc. sold 772,596 shares at $23.85 apiece. The transaction was valued at $18,426,724.
Valuation Metrics
Right now, Enact Holdings Inc. (ACT) has a P/E ratio of about 6.68. The stock’s beta is 0.61. Besides these, the trailing price-to-sales (P/S) ratio of 4.27, the price-to-book (PB) ratio of 1.11, and the price-to-cash flow ratio of 17.60 may also be considered.
The latest dividend of $0.16 per share was paid out, which is 14.29% more than last year’s $0.14. On Monday May 1 2023, a $0.02 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.17, and the total debt-to-equity ratio was 0.17. In the year ended June 29, operating margins totaled 87.20%.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 15.60%. Return on equity (ROE) for the past 12 months was 17.20%.
In Enact Holdings Inc.’s quarter-end financial report for June 29, it reported total debt of $743.46 million. ACT’s revenue rose 4.04% to $276.84 million during the quarter, while net income inched up to $280.94 million. While analysts expected Enact Holdings Inc. to report $0.84 quarterly earnings, the actual figure was $1.04 per share, beating the consensus estimate by 23.80%. The value of shareholders’ equity is $161.58 million.
Technical Picture
This quick technical analysis looks at Enact Holdings Inc.’s (ACT) price momentum. With a historical volatility rate of 22.69%, the RSI 9-day stood at 81.24% on 03 August.
With respect to its five-day moving average, the current Enact Holdings Inc. price is up by +6.15% percent or $1.68. At present, ACT shares trade +14.30% above its 20-day simple moving average and +34.24% percent above its 100-day simple moving average. However, the stock is currently trading approximately +19.04% above its SMA50 and +22.20% above its SMA200.
Stochastic coefficient K was 66.01% and Stochastic coefficient D was 58.15%, while ATR was 0.72. Given the Stochastic reading of 77.61% for the 14-day period, the RSI (14) reading has been calculated as 76.56%. As of today, the MACD Oscillator reading stands at 0.88, while the 14-day reading stands at 1.20.
Analyst Ratings
BofA Securities upgraded its rating on Enact Holdings Inc. (NASDAQ: ACT) to a Neutral in a note to investors on May 09, 2023. The analysts firm previously had an Underperform rating on the stock.Enact Holdings Inc. (ACT) has been rated Hold by analysts. According to 1 brokerage firm, ACT is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Enact Holdings Inc. stock as buy, with 3 recommending it as overweight.
With a median target price of $30.00, the current consensus forecast for the stock is $24.50 – $32.00. Based on these forecasts, analysts predict Enact Holdings Inc. (ACT) will achieve an average price target of $29.36.
