Enact Announces New $100M Share Repurchase Program Is In Addition To The Company's Current $75M Share Repurchase Program Announced In November 2022, Under Which The Company Repurchased ~$71M To Date
Portfolio Pulse from Happy Mohamed
Enact Holdings, Inc. (NASDAQ:ACT) has announced a new share repurchase program with authorization to purchase up to $100 million of its common stock. This is in addition to the company's current $75 million share repurchase program, under which it has repurchased approximately $71 million of shares to date. The timing and amount of any share repurchases will be opportunistic and will depend on a variety of factors.
August 04, 2023 | 10:31 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Enact's new share repurchase program could potentially increase the stock's price in the short term as it indicates the company's confidence in its own stock.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock. By buying back shares, the company is effectively investing in itself, which can be a positive signal to investors. This could potentially lead to an increase in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100