Cooperman Leon G Raises Stake 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 increased its position 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 and Exchange Commission. The fund owned 4,799,778 shares of the company's stock after purchasing an additional 1,036,019 shares during the period. Fidelis Insurance accounts for about 3.1% of Cooperman Leon G's holdings, making the stock its 16th biggest holding. Cooperman Leon G owned approximately 4.29% of Fidelis Insurance worth $77,756,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its position in Fidelis Insurance by 62.1% during the first quarter. Royal Bank of Canada now owns 15,988 shares of the company's stock worth $258,000 after purchasing an additional 6,124 shares during the last quarter. Graham Capital Management L.P. increased its position in Fidelis Insurance by 470.3% during the first quarter. Graham Capital Management L.P. now owns 66,886 shares of the company's stock worth $1,084,000 after purchasing an additional 55,158 shares during the last quarter. Doma Perpetual Capital Management LLC acquired a new stake in Fidelis Insurance during the first quarter worth about $7,551,000. Trexquant Investment LP increased its position in Fidelis Insurance by 29.5% during the first quarter. Trexquant Investment LP now owns 182,725 shares of the company's stock worth $2,960,000 after purchasing an additional 41,628 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Fidelis Insurance during the first quarter worth about $193,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Fidelis Insurance Stock Down 0.9%

Shares of FIHL stock traded down $0.16 during trading on Friday, reaching $17.45. The company's stock 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 company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -42.55 and a beta of 0.26. The stock's 50-day moving average price is $16.42 and its 200 day moving average price is $16.24. Fidelis Insurance Holdings Limited has a 1-year low of $14.17 and a 1-year high of $21.32.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.24. The firm 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%. On average, research analysts anticipate that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current year.

Fidelis Insurance Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 16th will be paid a $0.15 dividend. This is an increase from Fidelis Insurance's previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, September 16th. Fidelis Insurance's payout ratio is presently -97.56%.

Analyst Upgrades and Downgrades

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

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.