Point72 Asset Management L.P. Makes New Investment in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Point72 Asset Management L.P. bought a new position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 39,932 shares of the company's stock, valued at approximately $724,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. R Squared Ltd purchased a new position in Fidelis Insurance in the fourth quarter valued at about $26,000. Venturi Wealth Management LLC grew its stake in Fidelis Insurance by 1,862.9% in 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 last quarter. Fox Run Management L.L.C. purchased a new position in Fidelis Insurance in the fourth quarter valued at about $235,000. Schonfeld Strategic Advisors LLC purchased a new position in Fidelis Insurance in the fourth quarter valued at about $247,000. Finally, ProShare Advisors LLC purchased a new position in Fidelis Insurance in the fourth quarter valued at about $262,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on FIHL. 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 note on Wednesday, April 9th. JPMorgan Chase & Co. dropped 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. Citigroup restated an "outperform" rating on shares of Fidelis Insurance in a research note on Friday, May 16th. UBS Group boosted their price target on Fidelis Insurance from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Finally, JMP Securities boosted their price target on Fidelis Insurance from $24.00 to $27.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $20.14.

Fidelis Insurance Stock Performance

NYSE FIHL traded up $0.42 during trading hours on Tuesday, reaching $16.86. The stock had a trading volume of 259,361 shares, compared to its average volume of 549,522. The stock has a fifty day moving average of $16.32 and a 200 day moving average of $16.97. The stock has a market cap of $1.87 billion, a P/E ratio of 4.25 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 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 earnings results on Wednesday, May 14th. The company reported ($0.41) EPS 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 return on equity of 15.27% and a net margin of 20.17%. Sell-side analysts predict that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current year.

Fidelis Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 16th will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.40 dividend on an annualized basis and a yield of 2.37%. Fidelis Insurance's dividend payout ratio is currently -307.69%.

Fidelis Insurance 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.