Point72 Asset Management L.P. Makes New $724,000 Investment in Fidelis Insurance Holdings Limited (NYSE:FIHL)

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

A number of other large investors also recently made changes to their positions in the business. Citadel Advisors LLC raised its holdings in shares of Fidelis Insurance by 2,922.7% in the 4th 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 during the period. LSV Asset Management purchased a new stake in Fidelis Insurance during the fourth quarter worth approximately $24,435,000. Millennium Management LLC increased its position in shares of 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 acquiring an additional 532,110 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Fidelis Insurance by 3,511.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 539,783 shares of the company's stock valued at $9,785,000 after acquiring an additional 524,835 shares during the period. Finally, Loomis Sayles & Co. L P increased its holdings in Fidelis Insurance by 77.9% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,166,264 shares of the company's stock valued at $21,144,000 after purchasing an additional 510,699 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Fidelis Insurance Stock Performance

FIHL remained flat at $16.84 during trading on Wednesday. The company had a trading volume of 95,005 shares, compared to its average volume of 549,475. 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. The business's 50 day moving average price is $16.35 and its 200 day moving average price is $16.97. The firm has a market capitalization of $1.86 billion, a PE ratio of 4.25 and a beta of 0.28.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.43) by $0.02. The firm had revenue of $658.40 million during 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%. As a group, analysts forecast that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

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 issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.40 annualized dividend and a yield of 2.38%. Fidelis Insurance's payout ratio is -307.69%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FIHL. Citigroup reaffirmed an "outperform" rating on shares of Fidelis Insurance in a research report on Friday, May 16th. Barclays cut their price objective on shares of Fidelis Insurance from $18.00 to $16.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Keefe, Bruyette & Woods dropped 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. JMP Securities raised their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on Fidelis Insurance from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. 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, the company presently has a consensus rating of "Hold" and an average target price of $20.14.

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.