Quantbot Technologies LP Raises Stock Position in Fidelis Insurance Holdings Limited $FIHL

Key Points

• Quantbot Technologies LP increased its stake in Fidelis Insurance Holdings by 179.1%, raising its ownership to approximately 0.09% of the company, valued at $1.58 million.
• Fidelis Insurance recently reported better-than-expected earnings, with $1.22 billion in revenue for the quarter and earnings per share of $0.12, surpassing analyst estimates.
• Barclays and Keefe, Bruyette & Woods have both raised their price targets on Fidelis Insurance, now set at $17.00 and $21.00 respectively, reflecting positive analyst sentiment despite some mixed ratings.

Quantbot Technologies LP grew its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 179.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,794 shares of the company's stock after acquiring an additional 62,755 shares during the period. Quantbot Technologies LP owned about 0.09% of Fidelis Insurance worth $1,584,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FIHL. Zimmer Partners LP bought a new position in shares of Fidelis Insurance during the fourth quarter valued at about $31,991,000. Citadel Advisors LLC raised its stake in shares of Fidelis Insurance by 2,922.7% during the fourth quarter. Citadel Advisors LLC now owns 1,569,863 shares of the company's stock valued at $28,462,000 after acquiring an additional 1,517,927 shares during the last quarter. LSV Asset Management raised its stake in shares of Fidelis Insurance by 87.7% during the first quarter. LSV Asset Management now owns 2,529,195 shares of the company's stock valued at $40,973,000 after acquiring an additional 1,181,439 shares during the last quarter. Nuveen LLC bought a new position in Fidelis Insurance in the first quarter worth about $12,862,000. Finally, Millennium Management LLC raised its stake in 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 buying an additional 532,110 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Fidelis Insurance Stock Up 0.0%

Shares of NYSE:FIHL traded up $0.01 during trading on Thursday, reaching $17.21. 115,074 shares of the stock traded hands, compared to its average volume of 649,999. The stock has a 50-day moving average of $16.22 and a two-hundred day moving average of $16.19. 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 0.36, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $1.90 billion, a P/E ratio of -41.95 and a beta of 0.25.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.24. Fidelis Insurance had a negative net margin of 1.70% and a negative return on equity of 1.81%. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $604.62 million. As a group, sell-side analysts expect that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 16th will be issued a $0.15 dividend. This is an increase from Fidelis Insurance's previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, September 16th. Fidelis Insurance's dividend payout ratio is -97.56%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays raised their target price on shares of Fidelis Insurance from $16.00 to $17.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Zacks Research downgraded shares of Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods raised their target price on shares of Fidelis Insurance from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. JMP Securities raised their target price on shares of 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, Citigroup reaffirmed an "outperform" rating on shares of Fidelis Insurance in a research note on Friday, May 16th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $20.67.

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.