SG Americas Securities LLC Increases Holdings in Fidelis Insurance Holdings Limited (NYSE:FIHL)

SG Americas Securities LLC raised its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 342.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,471 shares of the company's stock after buying an additional 56,857 shares during the period. SG Americas Securities LLC owned about 0.07% of Fidelis Insurance worth $1,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FIHL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Fidelis Insurance by 2.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,177 shares of the company's stock valued at $529,000 after acquiring an additional 661 shares in the last quarter. Sterling Capital Management LLC raised its stake in Fidelis Insurance by 6.5% in the fourth quarter. Sterling Capital Management LLC now owns 23,889 shares of the company's stock valued at $433,000 after buying an additional 1,448 shares in the last quarter. Invesco Ltd. raised its stake in Fidelis Insurance by 1.6% in the fourth quarter. Invesco Ltd. now owns 91,317 shares of the company's stock valued at $1,656,000 after buying an additional 1,475 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Fidelis Insurance by 3.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 64,379 shares of the company's stock valued at $1,167,000 after buying an additional 1,967 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Fidelis Insurance by 22.4% in the fourth quarter. New York State Common Retirement Fund now owns 15,311 shares of the company's stock valued at $278,000 after buying an additional 2,800 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JMP Securities raised their price target on Fidelis Insurance from $24.00 to $27.00 and gave the company a "market outperform" rating in a research note on Friday, May 16th. UBS Group raised their price target on Fidelis Insurance from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Citigroup restated an "outperform" rating on shares of Fidelis Insurance in a research note on Friday, May 16th. JPMorgan Chase & Co. cut their price target on Fidelis Insurance from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods cut their target price on Fidelis Insurance from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Fidelis Insurance currently has a consensus rating of "Hold" and an average target price of $20.14.

Fidelis Insurance Stock Performance

FIHL traded up $0.09 on Wednesday, hitting $16.17. 798,069 shares of the company traded hands, compared to its average volume of 565,784. The company has a 50 day moving average of $16.72 and a 200-day moving average of $16.67. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.79 billion, a PE ratio of -124.34 and a beta of 0.34. 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 posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.02. Fidelis Insurance had a positive return on equity of 0.20% and a negative net margin of 0.41%. The firm had revenue of $658.40 million during the quarter, compared to the consensus estimate of $578.57 million. Sell-side analysts anticipate that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current year.

Fidelis Insurance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 16th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Monday, June 16th. Fidelis Insurance's dividend payout ratio is presently -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.