Crestview Partners III GP L.P. Has $157.78 Million Stake in Fidelis Insurance Holdings Limited $FIHL

Key Points

• Crestview Partners III GP L.P. reduced its holdings in Fidelis Insurance by 0.6%, maintaining 9.74 million shares, making it the largest investment in their portfolio valued at approximately $157.78 million.
• Several institutional investors, including MIRAE ASSET GLOBAL and Invesco, have increased their positions in Fidelis Insurance in recent quarters, reflecting growing interest among large investors.
• Equities analysts generally maintain a mixed outlook on Fidelis Insurance, with target prices ranging from $16.00 to $27.00 and a current consensus rating of "Hold."

Crestview Partners III GP L.P. trimmed its stake in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,739,675 shares of the company's stock after selling 62,463 shares during the quarter. Fidelis Insurance makes up 46.4% of Crestview Partners III GP L.P.'s holdings, making the stock its biggest position. Crestview Partners III GP L.P. owned approximately 8.71% of Fidelis Insurance worth $157,783,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Garde Capital Inc. purchased a new stake in shares of Fidelis Insurance during the 1st quarter valued at approximately $62,000. GAMMA Investing LLC increased its holdings in shares of Fidelis Insurance by 1,267.3% in 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. Fiduciary Family Office LLC purchased a new position in shares of Fidelis Insurance in the 1st quarter worth about $162,000. EntryPoint Capital LLC purchased a new position in shares of Fidelis Insurance in the 1st quarter worth about $181,000. Finally, Jump Financial LLC bought a new position in shares of Fidelis Insurance during the 1st quarter valued at $193,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on FIHL. JMP Securities raised their price target on shares of Fidelis Insurance from $24.00 to $27.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Barclays raised their price target on shares of Fidelis Insurance from $16.00 to $17.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Keefe, Bruyette & Woods raised their price target on shares of Fidelis Insurance from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Zacks Research lowered shares of Fidelis Insurance from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 13th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Fidelis Insurance in a research report on Friday, May 16th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $20.67.

Fidelis Insurance Stock Up 1.1%

NYSE FIHL traded up $0.19 during trading hours on Friday, reaching $17.48. 528,609 shares of the company's stock traded hands, compared to its average volume of 712,413. Fidelis Insurance Holdings Limited has a 52-week low of $14.17 and a 52-week high of $21.32. The firm has a market cap of $1.93 billion, a PE ratio of -42.63 and a beta of 0.25. The firm has a 50-day simple moving average of $16.27 and a 200 day simple moving average of $16.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.71.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $604.62 million. Sell-side analysts anticipate that Fidelis Insurance Holdings Limited will post 3.12 EPS 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. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a yield of 3.4%. This is an increase from Fidelis Insurance's previous quarterly dividend of $0.10. Fidelis Insurance's dividend payout ratio (DPR) is -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.