UBS Group AG Has $6.51 Million Position in Fidelis Insurance Holdings Limited $FIHL

Key Points

• UBS Group AG cut its Fidelis Insurance stake by 30.1% in the fourth quarter, ending with 332,806 shares worth about $6.51 million. Institutional ownership remains high overall, with hedge funds and other investors holding about 81.99% of the stock.
• Fidelis Insurance shares were up 2.1% and the company reported solid recent results, including quarterly EPS of $0.94 and revenue of $610.6 million. Analysts expect full-year earnings of $3.19 per share.
• The company announced a quarterly dividend and a large buyback plan. Fidelis will pay a $0.15 per-share dividend on June 26 and has authorized a $400 million share repurchase program, signaling management support for the stock.

UBS Group AG reduced its holdings in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 30.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 332,806 shares of the company's stock after selling 143,543 shares during the quarter. UBS Group AG owned about 0.30% of Fidelis Insurance worth $6,513,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cooperman Leon G grew its position in shares of Fidelis Insurance by 14.8% in the third quarter. Cooperman Leon G now owns 6,662,469 shares of the company's stock valued at $120,924,000 after purchasing an additional 856,413 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Fidelis Insurance by 16.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,623,506 shares of the company's stock valued at $47,612,000 after purchasing an additional 367,538 shares during the last quarter. Royce & Associates LP grew its position in shares of Fidelis Insurance by 2,333.5% in the third quarter. Royce & Associates LP now owns 1,591,259 shares of the company's stock valued at $28,881,000 after purchasing an additional 1,525,868 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of Fidelis Insurance by 24.3% in the third quarter. Balyasny Asset Management L.P. now owns 960,663 shares of the company's stock valued at $17,436,000 after purchasing an additional 187,899 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Fidelis Insurance by 113.9% in the third quarter. Millennium Management LLC now owns 924,380 shares of the company's stock valued at $16,777,000 after purchasing an additional 492,253 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Fidelis Insurance Trading Up 2.1%

Shares of FIHL opened at $23.65 on Wednesday. Fidelis Insurance Holdings Limited has a 12-month low of $14.80 and a 12-month high of $21.50. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 10.70 and a beta of 0.36. The stock's 50-day moving average price is $20.06 and its 200 day moving average price is $19.40.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.94 earnings per share (EPS) for the quarter. Fidelis Insurance had a return on equity of 8.62% and a net margin of 9.02%.The firm had revenue of $610.60 million for the quarter. As a group, research analysts predict that Fidelis Insurance Holdings Limited will post 3.19 earnings per share for the current year.

Fidelis Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, June 15th. Fidelis Insurance's payout ratio is presently 27.15%.

Fidelis Insurance announced that its board has authorized a share repurchase plan on Friday, February 20th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 18% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on FIHL. Weiss Ratings raised Fidelis Insurance from a "hold (c)" rating to a "buy (b)" rating in a research report on Friday, March 6th. UBS Group lifted their target price on Fidelis Insurance from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Wall Street Zen lowered Fidelis Insurance from a "buy" rating to a "hold" rating in a research note on Sunday, February 8th. Barclays boosted their price target on Fidelis Insurance from $19.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods boosted their price target on Fidelis Insurance from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Fidelis Insurance has a consensus rating of "Hold" and an average target price of $21.92.

About Fidelis Insurance

Fidelis Insurance Holdings Ltd is a Bermuda‐incorporated specialty insurer and reinsurer that underwrites a broad range of liability and property risks. Founded in 2015, the company completed its initial public offering on the New York Stock Exchange in 2016 under the ticker FIHL. Fidelis focuses on providing tailored solutions for complex risks that traditional insurers may find difficult to accommodate, leveraging data analytics and underwriting expertise to structure policies across diverse industry segments.

The company’s product portfolio spans casualty lines—including general liability, excess and umbrella, professional indemnity, and management liability—alongside property, marine, energy and specialty programs.

Want to see what other hedge funds are holding FIHL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.