Bridgeway Capital Management LLC Purchases 109,011 Shares of Fidelis Insurance Holdings Limited $FIHL

Key Points

• Bridgeway Capital Management LLC increased its stake in Fidelis Insurance by 16.1%, owning approximately 0.70% of the company, which is valued at around $12.7 million.
• Fidelis Insurance announced an increase in its quarterly dividend from $0.10 to $0.15, representing a yield of 3.4%, with payments set for September 26th.
• Fidelis Insurance's stock has received mixed ratings from analysts, with price targets ranging from $16.00 to $27.00, and a current consensus rating of "Hold."

Bridgeway Capital Management LLC grew its stake in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 16.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 784,570 shares of the company's stock after acquiring an additional 109,011 shares during the quarter. Bridgeway Capital Management LLC owned about 0.70% of Fidelis Insurance worth $12,710,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FIHL. Principal Financial Group Inc. raised its stake in Fidelis Insurance by 8.8% in the first quarter. Principal Financial Group Inc. now owns 76,356 shares of the company's stock valued at $1,237,000 after purchasing an additional 6,207 shares in the last quarter. Joel Isaacson & Co. LLC acquired a new position in shares of Fidelis Insurance in the 1st quarter valued at approximately $315,000. Bank of America Corp DE raised its position in shares of Fidelis Insurance by 9.5% in the 4th quarter. Bank of America Corp DE now owns 437,516 shares of the company's stock valued at $7,932,000 after buying an additional 38,015 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Fidelis Insurance by 87.7% during the 1st quarter. LSV Asset Management now owns 2,529,195 shares of the company's stock worth $40,973,000 after acquiring an additional 1,181,439 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Fidelis Insurance by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 166,257 shares of the company's stock worth $2,693,000 after acquiring an additional 43,038 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JMP Securities boosted their price objective 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. Zacks Research cut Fidelis Insurance from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 13th. Citigroup restated an "outperform" rating on shares of Fidelis Insurance in a research report on Friday, May 16th. Keefe, Bruyette & Woods raised their target price 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, Barclays boosted their target price 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 given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $20.67.

Fidelis Insurance Trading Down 0.4%

FIHL traded down $0.08 during trading on Tuesday, reaching $17.43. 107,719 shares of the company's stock were exchanged, compared to its average volume of 644,785. 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 Holdings Limited has a one year low of $14.17 and a one year high of $21.32. The firm has a fifty day moving average price of $16.44 and a two-hundred day moving average price of $16.26. The stock has a market capitalization of $1.93 billion, a PE ratio of -42.49 and a beta of 0.26.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $604.62 million. As a group, equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 16th. This is a boost from Fidelis Insurance's previous quarterly dividend of $0.10. Fidelis Insurance's dividend payout ratio (DPR) is presently -97.56%.

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.