Charles Schwab Investment Management Inc. Has $2.69 Million Position in Fidelis Insurance Holdings Limited $FIHL

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Fidelis Insurance Holdings Limited by 34.9%, acquiring a total of 166,257 shares valued at approximately $2.69 million.
• The company announced a quarterly dividend increase to $0.15, up from $0.10, reflecting an annualized yield of 3.4%.
• Fidelis Insurance reported earnings per share (EPS) of $0.12 for the latest quarter, exceeding analyst expectations, alongside a revenue of $1.22 billion.

Charles Schwab Investment Management Inc. raised its stake in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 34.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,257 shares of the company's stock after buying an additional 43,038 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.15% of Fidelis Insurance worth $2,693,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Wellington Management Group LLP increased its stake in Fidelis Insurance by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 3,240,681 shares of the company's stock valued at $58,754,000 after buying an additional 162,524 shares during the period. LSV Asset Management increased its stake in Fidelis Insurance by 87.7% during the 1st quarter. LSV Asset Management now owns 2,529,195 shares of the company's stock valued at $40,973,000 after buying an additional 1,181,439 shares during the period. Zimmer Partners LP acquired a new position in Fidelis Insurance during the 4th quarter valued at about $31,991,000. Citadel Advisors LLC increased its stake in Fidelis Insurance by 2,922.7% during the 4th quarter. Citadel Advisors LLC now owns 1,569,863 shares of the company's stock valued at $28,462,000 after buying an additional 1,517,927 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Fidelis Insurance by 181.2% during the 4th quarter. Millennium Management LLC now owns 825,772 shares of the company's stock valued at $14,971,000 after purchasing an additional 532,110 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Fidelis Insurance Trading Down 0.6%

Shares of FIHL traded down $0.11 during midday trading on Wednesday, hitting $17.38. The stock had a trading volume of 224,916 shares, compared to its average volume of 648,387. Fidelis Insurance Holdings Limited has a fifty-two week low of $14.17 and a fifty-two week high of $21.32. The business has a 50-day simple moving average of $16.34 and a two-hundred day simple moving average of $16.21. The firm has a market cap of $1.92 billion, a P/E ratio of -42.37 and a beta of 0.26. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.24. Fidelis Insurance had a negative net margin of 1.70% and a negative return on equity of 1.81%. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $604.62 million. As a group, equities analysts forecast that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current year.

Fidelis Insurance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.15 per share. This is an increase from Fidelis Insurance's previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 16th. Fidelis Insurance's dividend payout ratio is -97.56%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Fidelis Insurance from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Zacks Research cut shares of Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 13th. Citigroup reaffirmed an "outperform" rating on shares of Fidelis Insurance in a research note on Friday, May 16th. JMP Securities lifted their price objective on shares of Fidelis Insurance from $24.00 to $27.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Finally, Barclays lifted their price objective on shares of Fidelis Insurance from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $20.67.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Limited, a specialty insurer, provides insurance and reinsurance solutions in Bermuda, the Republic of Ireland, and the United Kingdom. It operates in three segments: Specialty, Reinsurance, and Bespoke segments. The Specialty segment offers aviation and aerospace, energy, marine, property direct and facultative, and other specialty risk solutions.