Fidelis Insurance Holdings Limited $FIHL Shares Sold by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC has reduced its stake in Fidelis Insurance Holdings Limited by 39.7%, selling 80,162 shares, and now owns approximately $1.97 million worth of the company.
• Fidelis Insurance recently announced an increase in its quarterly dividend from $0.10 to $0.15, which translates to a yield of 3.4%.
• Analysts have mixed ratings on Fidelis Insurance, with Zacks Research downgrading it to a "strong sell," while other firms set target prices ranging from $17.00 to $27.00.

Cubist Systematic Strategies LLC decreased its position in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 39.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,757 shares of the company's stock after selling 80,162 shares during the quarter. Cubist Systematic Strategies LLC owned 0.11% of Fidelis Insurance worth $1,972,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Garde Capital Inc. acquired a new stake in Fidelis Insurance during the first quarter worth approximately $62,000. GAMMA Investing LLC grew its position in Fidelis Insurance by 1,267.3% in the 1st quarter. GAMMA Investing LLC now owns 4,471 shares of the company's stock valued at $72,000 after buying an additional 4,144 shares during the last quarter. Fiduciary Family Office LLC purchased a new position in Fidelis Insurance in the 1st quarter valued at $162,000. EntryPoint Capital LLC purchased a new position in Fidelis Insurance in the 1st quarter valued at $181,000. Finally, Jump Financial LLC purchased a new position in Fidelis Insurance in the 1st quarter valued at $193,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FIHL shares. Zacks Research lowered shares of Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 13th. JMP Securities raised their target price on Fidelis Insurance from $24.00 to $27.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Keefe, Bruyette & Woods raised their target price on Fidelis Insurance from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Citigroup reissued an "outperform" rating on shares of Fidelis Insurance in a report on Friday, May 16th. Finally, Barclays raised their target price on Fidelis Insurance from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Four investment 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 a consensus price target of $20.67.

Fidelis Insurance Trading Down 0.9%

NYSE:FIHL opened at $17.45 on Friday. The stock has a fifty day simple moving average of $16.42 and a 200-day simple moving average of $16.24. Fidelis Insurance Holdings Limited has a 52-week low of $14.17 and a 52-week high of $21.32. The company has a market capitalization of $1.93 billion, a PE ratio of -42.55 and a beta of 0.26. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.36.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported $0.12 earnings per share 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. On average, equities research analysts expect 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 announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 16th will be paid a $0.15 dividend. 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 positive change from Fidelis Insurance's previous quarterly dividend of $0.10. Fidelis Insurance's dividend payout ratio is presently -97.56%.

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.

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