Trexquant Investment LP Raises Position in 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 grew its holdings in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 29.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of FIHL. Garde Capital Inc. acquired a new position in Fidelis Insurance during the first quarter valued at approximately $62,000. GAMMA Investing LLC lifted its stake in shares of Fidelis Insurance by 1,267.3% in the first quarter. GAMMA Investing LLC now owns 4,471 shares of the company's stock worth $72,000 after buying an additional 4,144 shares in the last quarter. Fiduciary Family Office LLC purchased a new stake in shares of Fidelis Insurance in the first quarter worth $162,000. EntryPoint Capital LLC purchased a new position in Fidelis Insurance in the 1st quarter worth about $181,000. Finally, Jump Financial LLC purchased a new stake in Fidelis Insurance during the 1st quarter worth approximately $193,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on FIHL shares. JMP Securities increased their price target 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. Keefe, Bruyette & Woods boosted their target price on Fidelis Insurance from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Barclays lifted their price objective on Fidelis Insurance from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Zacks Research lowered shares of Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 13th. Finally, Citigroup reiterated an "outperform" rating on shares of Fidelis Insurance in a research note on Friday, May 16th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $20.67.

Fidelis Insurance Stock Performance

Shares of NYSE FIHL traded down $0.01 during trading hours on Monday, reaching $17.42. The stock had a trading volume of 234,003 shares, compared to its average volume of 646,521. The business's fifty day moving average is $16.42 and its two-hundred day moving average is $16.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -42.48 and a beta of 0.26. Fidelis Insurance Holdings Limited has a twelve month low of $14.17 and a twelve month high of $21.32.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.12 earnings per share for the quarter, topping 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 firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $604.62 million. As a group, research analysts expect that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current year.

Fidelis Insurance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 16th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, September 16th. This is a boost from Fidelis Insurance's previous quarterly dividend of $0.10. Fidelis Insurance's dividend payout ratio (DPR) is currently -97.56%.

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.