Fidelis Insurance Holdings Limited $FIHL Holdings Raised by Graham Capital Management L.P.

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. raised its position in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 470.3% during the 1st quarter, according to its most recent disclosure with the SEC. 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 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in Fidelis Insurance by 6.9% in the first quarter. American Century Companies Inc. now owns 3,825,159 shares of the company's stock valued at $61,968,000 after purchasing an additional 248,141 shares during the last quarter. Wellington Management Group LLP grew its holdings in Fidelis Insurance by 4.5% in the first quarter. Wellington Management Group LLP now owns 3,386,797 shares of the company's stock valued at $54,866,000 after purchasing an additional 146,116 shares during the last quarter. LSV Asset Management grew its holdings in Fidelis Insurance by 87.7% in the first quarter. LSV Asset Management now owns 2,529,195 shares of the company's stock valued at $40,973,000 after purchasing an additional 1,181,439 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of Fidelis Insurance during the fourth quarter valued at $31,991,000. Finally, Citadel Advisors LLC boosted its stake in shares of Fidelis Insurance by 2,922.7% during the fourth quarter. Citadel Advisors LLC now owns 1,569,863 shares of the company's stock valued at $28,462,000 after acquiring an additional 1,517,927 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Fidelis Insurance Stock Performance

Shares of NYSE FIHL traded down $0.01 during trading on Tuesday, reaching $17.50. The stock had a trading volume of 75,339 shares, compared to its average volume of 644,562. Fidelis Insurance Holdings Limited has a one year low of $14.17 and a one year high of $21.32. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $1.94 billion, a PE ratio of -42.66 and a beta of 0.26. The firm's 50 day moving average price is $16.44 and its two-hundred day moving average price is $16.26.

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 analysts' consensus estimates of ($0.12) by $0.24. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate 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, 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 16th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.4%. This is a positive change from Fidelis Insurance's previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, September 16th. Fidelis Insurance's payout ratio is currently -97.56%.

Wall Street Analyst Weigh In

A number of research firms recently commented on FIHL. Zacks Research lowered Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 13th. Barclays increased their price objective on Fidelis Insurance from $16.00 to $17.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. JMP Securities increased their target price 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 research report on Friday, May 16th. Finally, Keefe, Bruyette & Woods increased their target price on Fidelis Insurance from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Fidelis Insurance presently has an average rating of "Hold" and a consensus target price 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.