Federated Hermes Inc. Cuts Stock Holdings in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Key Points

• Federated Hermes Inc. significantly reduced its stake in Fidelis Insurance Holdings, cutting its holdings by 99.7% to only 2,878 shares after selling over 1 million shares in the first quarter.
• Fidelis Insurance reported $658.40 million in revenue for the quarter, exceeding analysts' expectations of $578.57 million, while also beating EPS estimates by $0.02.
• Multiple research firms have increased their price targets for Fidelis Insurance, with JMP Securities raising it from $24.00 to $27.00, indicating a potential for significant market growth.

Federated Hermes Inc. trimmed its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 99.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,878 shares of the company's stock after selling 1,105,230 shares during the quarter. Federated Hermes Inc.'s holdings in Fidelis Insurance were worth $47,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Garde Capital Inc. purchased a new stake in Fidelis Insurance in the 1st quarter worth $62,000. GAMMA Investing LLC lifted its stake in shares of Fidelis Insurance by 1,267.3% in the first quarter. GAMMA Investing LLC now owns 4,471 shares of the company's stock worth $72,000 after buying an additional 4,144 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Fidelis Insurance during the fourth quarter worth about $247,000. ProShare Advisors LLC acquired a new position in Fidelis Insurance during the fourth quarter worth about $262,000. Finally, XTX Topco Ltd acquired a new position in Fidelis Insurance during the fourth quarter worth about $277,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Fidelis Insurance Trading Down 0.0%

Shares of FIHL stock opened at $16.78 on Tuesday. The company's 50-day moving average price is $16.17 and its 200-day moving average price is $16.14. Fidelis Insurance Holdings Limited has a twelve month low of $14.17 and a twelve month high of $21.32. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -129.10 and a beta of 0.25.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.41) EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.02. Fidelis Insurance had a negative net margin of 0.41% and a positive return on equity of 0.20%. The company had revenue of $658.40 million for the quarter, compared to analysts' expectations of $578.57 million. As a group, equities analysts predict that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FIHL. JMP Securities boosted their price target on shares of Fidelis Insurance from $24.00 to $27.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Citigroup restated an "outperform" rating on shares of Fidelis Insurance in a research report on Friday, May 16th. Keefe, Bruyette & Woods boosted their price target on shares of Fidelis Insurance from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Finally, Barclays boosted their price target on shares of Fidelis Insurance from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Fidelis Insurance currently has a consensus rating of "Hold" and a consensus 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.

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