Bank of America Securities Reaffirms Their Buy Rating on Enact Holdings (ACT)
In a report released yesterday, Mihir Bhatia from Bank of America Securities maintained a Buy rating on Enact Holdings, with a price target of $49.00. The company’s shares closed yesterday at $43.13.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Bhatia covers the Financial sector, focusing on stocks such as American Express, Capital One Financial, and Synchrony Financial. According to TipRanks, Bhatia has an average return of 9.0% and a 65.35% success rate on recommended stocks.
Enact Holdings has an analyst consensus of Hold, with a price target consensus of $46.75.
Based on Enact Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $311.51 million and a net profit of $177.16 million. In comparison, last year the company earned a revenue of $301.93 million and had a net profit of $162.74 million
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACT in relation to earlier this year. Earlier this month, Genworth Holdings, Inc., a Major Shareholder at ACT sold 820,567.00 shares for a total of $33,577,601.64.
