Fidelis Insurance Holdings Limited $FIHL Shares Bought by Bridgeway Capital Management LLC

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 13F filing with the Securities and Exchange Commission. The firm owned 784,570 shares of the company's stock after acquiring an additional 109,011 shares during the period. Bridgeway Capital Management LLC owned about 0.70% of Fidelis Insurance worth $12,710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Fidelis Insurance by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,177 shares of the company's stock valued at $529,000 after purchasing an additional 661 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in Fidelis Insurance by 2.7% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 74,704 shares of the company's stock valued at $1,210,000 after purchasing an additional 1,991 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Fidelis Insurance by 17.2% in the fourth 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 in the last quarter. Garde Capital Inc. acquired a new position in shares of Fidelis Insurance during the 1st quarter worth $62,000. Finally, GAMMA Investing LLC raised its stake in shares of Fidelis Insurance by 1,267.3% during the 1st quarter. GAMMA Investing LLC now owns 4,471 shares of the company's stock worth $72,000 after buying an additional 4,144 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Fidelis Insurance from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Barclays increased 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. JMP Securities lifted their price objective on 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 reiterated an "outperform" rating on shares of Fidelis Insurance in a report on Friday, May 16th. Finally, Zacks Research cut Fidelis Insurance from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. 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 Stock Down 0.5%

Shares of NYSE FIHL opened at $17.40 on Thursday. The firm has a market cap of $1.93 billion, a P/E ratio of -42.43 and a beta of 0.26. 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 1 year low of $14.17 and a 1 year high of $21.32. The firm's 50 day moving average price is $16.37 and its 200 day moving average price is $16.22.

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, topping analysts' consensus estimates of ($0.12) by $0.24. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $604.62 million. Fidelis Insurance had a negative return on equity of 1.81% and a negative net margin of 1.70%. As a group, sell-side analysts anticipate that Fidelis Insurance Holdings Limited will post 3.12 earnings per share 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 is a positive change from Fidelis Insurance's previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, September 16th. This represents a $0.60 annualized dividend and a yield of 3.4%. Fidelis Insurance's dividend payout ratio (DPR) is presently -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.

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