Cooperman Leon G Increases Position in Fidelis Insurance Holdings Limited $FIHL

Key Points

• Cooperman Leon G increased its stake in Fidelis Insurance Holdings Limited by 27.5%, acquiring an additional 1,036,019 shares in the first quarter, making it the firm's 16th largest holding.
• Fidelis Insurance announced a quarterly dividend increase from $0.10 to $0.15, with a yield of 3.4%, set to be paid on September 26th.
• The company's stock currently has a market cap of $1.93 billion and reported earnings per share of $0.12, exceeding analyst expectations.

Cooperman Leon G raised its holdings in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 27.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,799,778 shares of the company's stock after buying an additional 1,036,019 shares during the quarter. Fidelis Insurance comprises about 3.1% of Cooperman Leon G's holdings, making the stock its 16th largest position. Cooperman Leon G owned 4.29% of Fidelis Insurance worth $77,756,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FIHL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Fidelis Insurance by 2.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,177 shares of the company's stock worth $529,000 after acquiring an additional 661 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Fidelis Insurance by 2.7% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 74,704 shares of the company's stock valued at $1,210,000 after buying an additional 1,991 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Fidelis Insurance by 17.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,356 shares of the company's stock valued at $370,000 after buying an additional 2,986 shares during the period. MetLife Investment Management LLC lifted its position in Fidelis Insurance by 10.7% during the fourth quarter. MetLife Investment Management LLC now owns 31,271 shares of the company's stock valued at $567,000 after purchasing an additional 3,012 shares in the last quarter. Finally, Garde Capital Inc. purchased a new position in Fidelis Insurance during the first quarter valued at $62,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FIHL has been the topic of a number of recent analyst reports. Barclays raised their price target on Fidelis Insurance from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Citigroup restated an "outperform" rating on shares of Fidelis Insurance in a research report on Friday, May 16th. JMP Securities boosted their target price on Fidelis Insurance from $24.00 to $27.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Zacks Research lowered Fidelis Insurance from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods upped their target price on Fidelis Insurance from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Fidelis Insurance currently has a consensus rating of "Hold" and a consensus price target of $20.67.

Fidelis Insurance Price Performance

Fidelis Insurance stock traded down $0.16 during midday trading on Friday, reaching $17.45. The company had a trading volume of 533,063 shares, compared to its average volume of 638,655. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.71. The firm's fifty day simple moving average is $16.42 and its 200-day simple moving average is $16.24. Fidelis Insurance Holdings Limited has a 12-month low of $14.17 and a 12-month high of $21.32. The company has a market capitalization of $1.93 billion, a P/E ratio of -42.55 and a beta of 0.26.

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

Fidelis Insurance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 16th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.4%. This is a boost from Fidelis Insurance's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, September 16th. Fidelis Insurance's payout ratio is currently -97.56%.

Fidelis Insurance 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.