Russell Investments Group Ltd. Trims Holdings in Fidelis Insurance Holdings Limited $FIHL

Key Points

• Russell Investments Group Ltd. significantly reduced its stake in Fidelis Insurance by 93.5%, selling over 438,000 shares, while institutional ownership remains high at 81.99%.
• Fidelis Insurance recently announced an increase in its quarterly dividend from $0.10 to $0.15, yielding approximately 3.4% annually.
• Analysts have mixed sentiments on Fidelis Insurance, with a consensus rating of "Hold" and an average price target of $20.67, while earnings per share for the company topped estimates in their latest report.

Russell Investments Group Ltd. reduced its holdings in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 93.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,535 shares of the company's stock after selling 438,312 shares during the period. Russell Investments Group Ltd.'s holdings in Fidelis Insurance were worth $495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Fidelis Insurance by 8.8% during the 1st quarter. Principal Financial Group Inc. now owns 76,356 shares of the company's stock valued at $1,237,000 after purchasing an additional 6,207 shares during the last quarter. Joel Isaacson & Co. LLC purchased a new stake in Fidelis Insurance during the 1st quarter valued at about $315,000. Bank of America Corp DE grew its stake in Fidelis Insurance by 9.5% during the 4th quarter. Bank of America Corp DE now owns 437,516 shares of the company's stock valued at $7,932,000 after purchasing an additional 38,015 shares during the last quarter. LSV Asset Management grew its stake in Fidelis Insurance by 87.7% during the 1st 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. Finally, BNP Paribas Financial Markets purchased a new stake in Fidelis Insurance during the 4th quarter valued at about $522,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FIHL shares. Citigroup reissued an "outperform" rating on shares of Fidelis Insurance in a report on Friday, May 16th. JMP Securities raised their target price 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 upped their target price on Fidelis Insurance from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods upped their target price on Fidelis Insurance from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Finally, Zacks Research downgraded Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 13th. Four equities research 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $20.67.

Fidelis Insurance Price Performance

FIHL traded up $0.02 during trading on Thursday, hitting $17.40. The company's stock had a trading volume of 134,589 shares, compared to its average volume of 647,958. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36. Fidelis Insurance Holdings Limited has a twelve month low of $14.17 and a twelve month high of $21.32. The business's fifty day simple moving average is $16.37 and its 200 day simple moving average is $16.22. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -42.43 and a beta of 0.26.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last released 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. The business had revenue of $1.22 billion for 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, equities research analysts forecast that Fidelis Insurance Holdings Limited will post 3.12 EPS 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. Stockholders of record on Tuesday, September 16th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.4%. This is a boost from Fidelis Insurance's previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, September 16th. 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.