Doma Perpetual Capital Management LLC Buys New Position in Fidelis Insurance Holdings Limited $FIHL

Key Points

• Doma Perpetual Capital Management LLC acquired approximately $7.55 million worth of Fidelis Insurance Holdings Limited shares, making it the company's 9th largest holding.
• Fidelis Insurance recently reported a positive earnings per share of $0.12, exceeding analyst expectations and indicating a substantial revenue of $1.22 billion for the quarter.
• The company has announced a quarterly dividend increase from $0.10 to $0.15, offering an annualized return of 3.4% to shareholders.

Doma Perpetual Capital Management LLC purchased a new position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 466,085 shares of the company's stock, valued at approximately $7,551,000. Fidelis Insurance comprises about 3.0% of Doma Perpetual Capital Management LLC's investment portfolio, making the stock its 9th biggest position. Doma Perpetual Capital Management LLC owned about 0.42% of Fidelis Insurance at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FIHL. Wells Fargo & Company MN increased its holdings in shares of Fidelis Insurance by 77.6% during the 4th quarter. Wells Fargo & Company MN now owns 42,484 shares of the company's stock worth $770,000 after acquiring an additional 18,562 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Fidelis Insurance during the 4th quarter valued at $1,142,000. Barclays PLC lifted its position in shares of Fidelis Insurance by 13.3% during the 4th quarter. Barclays PLC now owns 77,264 shares of the company's stock valued at $1,401,000 after acquiring an additional 9,080 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Fidelis Insurance by 3,511.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 539,783 shares of the company's stock valued at $9,785,000 after acquiring an additional 524,835 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Fidelis Insurance by 10.7% during the 4th quarter. MetLife Investment Management LLC now owns 31,271 shares of the company's stock valued at $567,000 after acquiring an additional 3,012 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FIHL has been the subject of a number of recent analyst reports. JMP Securities upped 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. Barclays boosted their price target on Fidelis Insurance from $16.00 to $17.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Zacks Research cut Fidelis Insurance from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 13th. Citigroup reissued an "outperform" rating on shares of Fidelis Insurance in a report on Friday, May 16th. Finally, Keefe, Bruyette & Woods boosted their price target on Fidelis Insurance from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Four equities 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 MarketBeat, Fidelis Insurance currently has a consensus rating of "Hold" and an average price target of $20.67.

Fidelis Insurance Trading Down 0.5%

Shares of FIHL stock traded down $0.10 on Wednesday, hitting $17.40. The company had a trading volume of 636,932 shares, compared to its average volume of 649,837. The firm has a market cap of $1.93 billion, a P/E ratio of -42.43 and a beta of 0.26. The stock's 50-day moving average is $16.34 and its two-hundred day moving average is $16.21. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 0.71. Fidelis Insurance Holdings Limited has a twelve month low of $14.17 and a twelve month high of $21.32.

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

Fidelis Insurance Increases Dividend

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

About Fidelis Insurance

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.