Trexquant Investment LP Buys 41,628 Shares of Fidelis Insurance Holdings Limited $FIHL

Key Points

• Trexquant Investment LP has increased its stake in Fidelis Insurance Holdings Limited (FIHL) by 29.5%, now owning 182,725 shares valued at approximately $2.96 million.
• Fidelis Insurance recently announced a increase in its quarterly dividend from $0.10 to $0.15, reflecting an annual yield of 3.4%.
• The company reported earnings of $0.12 EPS for the quarter, surpassing expectations, with revenues of $1.22 billion compared to analyst estimates of $604.62 million.

Trexquant Investment LP boosted its stake in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 29.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182,725 shares of the company's stock after purchasing an additional 41,628 shares during the quarter. Trexquant Investment LP owned about 0.16% of Fidelis Insurance worth $2,960,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Garde Capital Inc. acquired a new position in Fidelis Insurance in the first quarter valued at about $62,000. GAMMA Investing LLC raised its stake in Fidelis Insurance by 1,267.3% in the first quarter. GAMMA Investing LLC now owns 4,471 shares of the company's stock valued at $72,000 after purchasing an additional 4,144 shares in the last quarter. Fiduciary Family Office LLC acquired a new position in Fidelis Insurance in the first quarter valued at about $162,000. EntryPoint Capital LLC acquired a new position in Fidelis Insurance in the first quarter valued at about $181,000. Finally, Jump Financial LLC acquired a new position in Fidelis Insurance in the first quarter valued at about $193,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on FIHL. Barclays boosted their price target on 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 cut Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 13th. Keefe, Bruyette & Woods lifted their target price on Fidelis Insurance from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. JMP Securities lifted their target price 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, Citigroup reiterated an "outperform" rating on shares of Fidelis Insurance in a research report on Friday, May 16th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $20.67.

Fidelis Insurance Trading Up 0.1%

Shares of NYSE:FIHL traded up $0.02 during midday trading on Tuesday, hitting $17.52. 60,157 shares of the stock were exchanged, compared to its average volume of 644,488. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -42.82 and a beta of 0.26. 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 business's 50-day moving average price is $16.44 and its 200 day moving average price is $16.26. 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 announced its earnings results on Wednesday, August 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.24. Fidelis Insurance had a negative return on equity of 1.81% and a negative net margin of 1.70%.The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $604.62 million. Analysts predict that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current 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. The ex-dividend date is Tuesday, September 16th. This is a boost from Fidelis Insurance's previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 3.4%. Fidelis Insurance's dividend payout ratio (DPR) is currently -97.56%.

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.