Graham Capital Management L.P. Buys 55,158 Shares of Fidelis Insurance Holdings Limited $FIHL

Key Points

• Graham Capital Management significantly increased its holdings in Fidelis Insurance by 470.3% in Q1, now owning 66,886 shares valued at approximately $1.08 million.
• Fidelis Insurance recently reported better-than-expected quarterly earnings, with $0.12 earnings per share compared to analysts' estimates of ($0.12), and a revenue of $1.22 billion.
• The company declared an increased quarterly dividend of $0.15, up from previous $0.10, reflecting a yield of 3.4% for investors on record as of September 16th.

Graham Capital Management L.P. boosted its holdings in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 470.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,886 shares of the company's stock after purchasing an additional 55,158 shares during the period. Graham Capital Management L.P. owned about 0.06% of Fidelis Insurance worth $1,084,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Garde Capital Inc. purchased a new position in Fidelis Insurance during the first quarter valued at $62,000. GAMMA Investing LLC grew its stake in 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 purchasing an additional 4,144 shares in the last quarter. Fiduciary Family Office LLC acquired a new position in shares of Fidelis Insurance in the 1st quarter valued at $162,000. EntryPoint Capital LLC purchased a new position in shares of Fidelis Insurance during the 1st quarter valued at about $181,000. Finally, Jump Financial LLC acquired a new stake in shares of Fidelis Insurance during the 1st quarter valued at about $193,000. 81.99% of the stock is currently owned by institutional investors.

Fidelis Insurance Stock Up 0.0%

Shares of Fidelis Insurance stock traded up $0.00 during trading on Monday, hitting $17.42. 261,618 shares of the stock traded hands, compared to its average volume of 646,702. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.93 billion, a P/E ratio of -42.45 and a beta of 0.26. The stock's fifty day simple moving average is $16.42 and its 200 day simple moving average is $16.24. Fidelis Insurance Holdings Limited has a 52-week low of $14.17 and a 52-week 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 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.24. Fidelis Insurance had a negative return on equity of 1.81% and a negative net margin of 1.70%.The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $604.62 million. On average, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.15 per share. This is a boost from Fidelis Insurance's previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.4%. Fidelis Insurance's payout ratio is currently -97.56%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FIHL. Zacks Research cut shares of Fidelis Insurance from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 13th. 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 report on Monday, July 7th. Citigroup restated an "outperform" rating on shares of Fidelis Insurance in a research report on Friday, May 16th. JMP Securities increased 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 note on Friday, May 16th. Finally, 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 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 issued a Sell rating to the company. According to MarketBeat.com, the company has an average 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.