Fidelis Insurance Holdings Limited $FIHL Shares Sold by Crestview Partners IV GP L.P.

Key Points

• Crestview Partners IV GP L.P. has decreased its stake in Fidelis Insurance Holdings Limited by 4.2%, owning approximately 4.04% of the company valued at $73.09 million.
• Fidelis Insurance reported an earnings per share (EPS) of $0.12 for the last quarter, outperforming analysts' expectations of (-$0.12) and achieving revenues of $1.22 billion.
• The stock has received mixed ratings from analysts, with a consensus rating of "Hold" and a target price of $20.67, reflecting varied outlooks on its performance.

Crestview Partners IV GP L.P. decreased its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,511,799 shares of the company's stock after selling 196,103 shares during the period. Fidelis Insurance accounts for about 20.4% of Crestview Partners IV GP L.P.'s investment portfolio, making the stock its 2nd largest holding. Crestview Partners IV GP L.P. owned 4.04% of Fidelis Insurance worth $73,091,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FIHL. Zimmer Partners LP bought a new stake in Fidelis Insurance during the fourth quarter worth approximately $31,991,000. Citadel Advisors LLC raised its holdings in Fidelis Insurance by 2,922.7% during the fourth quarter. Citadel Advisors LLC now owns 1,569,863 shares of the company's stock worth $28,462,000 after purchasing an additional 1,517,927 shares in the last quarter. LSV Asset Management grew its position in Fidelis Insurance by 87.7% in the first quarter. LSV Asset Management now owns 2,529,195 shares of the company's stock worth $40,973,000 after buying an additional 1,181,439 shares during the last quarter. Nuveen LLC acquired a new position in Fidelis Insurance in the first quarter worth approximately $12,862,000. Finally, Millennium Management LLC grew its position in Fidelis Insurance by 181.2% in the fourth quarter. Millennium Management LLC now owns 825,772 shares of the company's stock worth $14,971,000 after buying an additional 532,110 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on FIHL. Barclays lifted their price target 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. JMP Securities lifted their price target on shares of 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 restated an "outperform" rating on shares of Fidelis Insurance in a research report on Friday, May 16th. Keefe, Bruyette & Woods lifted their price target on shares of Fidelis Insurance from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Finally, Zacks Research lowered shares of Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research report 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $20.67.

Fidelis Insurance Trading Up 1.1%

NYSE FIHL traded up $0.19 on Friday, hitting $17.48. 528,609 shares of the stock were exchanged, 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 company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -42.63 and a beta of 0.25. The company's 50-day moving average price is $16.27 and its two-hundred day moving average price is $16.20.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.24. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $604.62 million. Fidelis Insurance had a negative net margin of 1.70% and a negative return on equity of 1.81%. Research analysts predict that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current year.

Fidelis Insurance Increases Dividend

The business also recently announced 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. This is an increase from Fidelis Insurance's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.4%. 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.