Wellington Management Group LLP Raises Stake in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Wellington Management Group LLP grew its stake in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,240,681 shares of the company's stock after buying an additional 162,524 shares during the period. Wellington Management Group LLP owned approximately 2.90% of Fidelis Insurance worth $58,754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FIHL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Fidelis Insurance by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,177 shares of the company's stock worth $529,000 after purchasing an additional 661 shares during the period. R Squared Ltd purchased a new position in Fidelis Insurance in the 4th quarter worth $26,000. Sterling Capital Management LLC raised its position in Fidelis Insurance by 6.5% in the 4th quarter. Sterling Capital Management LLC now owns 23,889 shares of the company's stock worth $433,000 after purchasing an additional 1,448 shares during the period. Invesco Ltd. raised its position in Fidelis Insurance by 1.6% in the 4th quarter. Invesco Ltd. now owns 91,317 shares of the company's stock worth $1,656,000 after purchasing an additional 1,475 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Fidelis Insurance by 3.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 64,379 shares of the company's stock worth $1,167,000 after purchasing an additional 1,967 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JMP Securities lifted their target price 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. UBS Group lifted their target price on shares of Fidelis Insurance from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Keefe, Bruyette & Woods dropped their price target on shares of Fidelis Insurance from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Barclays dropped their price target on shares of Fidelis Insurance from $18.00 to $16.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Finally, Citigroup reissued an "outperform" rating on shares of Fidelis Insurance in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Fidelis Insurance presently has an average rating of "Hold" and a consensus price target of $20.14.

Fidelis Insurance Trading Up 1.1%

Shares of FIHL traded up $0.19 during trading hours on Monday, reaching $17.67. 438,310 shares of the company traded hands, compared to its average volume of 550,262. The company's fifty day moving average price is $16.43 and its two-hundred day moving average price is $16.92. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 4.46 and a beta of 0.28. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. Fidelis Insurance Holdings Limited has a 12 month low of $14.17 and a 12 month high of $21.32.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.41) earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.02. The firm had revenue of $658.40 million for the quarter, compared to analyst estimates of $578.57 million. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. Equities research analysts predict that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, June 16th. Fidelis Insurance's payout ratio is -307.69%.

Fidelis Insurance Company 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.