5 Undervalued Stocks That Just Raised Their Dividends

2. Enact Holdings, Inc. (NASDAQ:ACT)

PE Ratio (TTM): 7.85

Enact Holdings, Inc. (NASDAQ:ACT) is a North Carolina-based finance and insurance company that offers mortgage-related insurance services. The company initiated its dividend policy in 2022 and has raised its payouts twice since then. On May 1, the company hiked its quarterly dividend by 16% to $0.185 per share. The stock has a dividend yield of 2.33%, as of May 13.

The number of hedge funds tracked by Insider Monkey holding stakes in Enact Holdings, Inc. (NASDAQ:ACT) grew to 21 in Q4 2023, from 16 in the previous quarter. These stakes are collectively valued at over $121.8 million. With roughly 1.3 million shares, Glendon Capital Management was the company’s leading stakeholder in Q4.

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