Millennium Management LLC Increases Holdings in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Millennium Management LLC boosted its holdings in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 181.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 825,772 shares of the company's stock after buying an additional 532,110 shares during the period. Millennium Management LLC owned approximately 0.70% of Fidelis Insurance worth $14,971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of FIHL. R Squared Ltd bought a new position in Fidelis Insurance in the 4th quarter valued at $26,000. Venturi Wealth Management LLC boosted its stake in shares of Fidelis Insurance by 1,862.9% during the fourth quarter. Venturi Wealth Management LLC now owns 6,144 shares of the company's stock valued at $111,000 after purchasing an additional 5,831 shares during the period. Fox Run Management L.L.C. purchased a new stake in Fidelis Insurance during the 4th quarter valued at $235,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Fidelis Insurance in the fourth quarter worth about $247,000. Finally, XTX Topco Ltd bought a new stake in shares of Fidelis Insurance in the fourth quarter worth about $277,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FIHL. UBS Group boosted their price target on shares of Fidelis Insurance from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Keefe, Bruyette & Woods reduced their target price on Fidelis Insurance from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. lowered their target price on Fidelis Insurance from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. JMP Securities lifted their price target on Fidelis Insurance from $24.00 to $27.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Finally, Barclays decreased their price objective on Fidelis Insurance from $18.00 to $16.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $20.14.

Fidelis Insurance Price Performance

NYSE:FIHL traded down $0.01 during trading hours on Friday, reaching $16.42. The stock had a trading volume of 496,049 shares, compared to its average volume of 550,635. The stock has a market capitalization of $1.82 billion, a PE ratio of 4.15 and a beta of 0.28. Fidelis Insurance Holdings Limited has a 52 week low of $14.17 and a 52 week high of $21.32. The company has a 50 day moving average price of $16.31 and a two-hundred day moving average price of $16.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.68 and a current ratio of 0.68.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.02. The company had revenue of $658.40 million for the quarter, compared to analysts' expectations of $578.57 million. Fidelis Insurance had a return on equity of 15.27% and a net margin of 20.17%. As a group, sell-side analysts anticipate 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 given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, June 16th. Fidelis Insurance's dividend payout ratio is currently -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.