Wedge Capital Management L L P NC Grows Position in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Wedge Capital Management L L P NC increased its position in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 29.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 72,123 shares of the company's stock after acquiring an additional 16,543 shares during the quarter. Wedge Capital Management L L P NC owned about 0.06% of Fidelis Insurance worth $1,168,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Fidelis Insurance by 1,267.3% during the first quarter. GAMMA Investing LLC now owns 4,471 shares of the company's stock worth $72,000 after purchasing an additional 4,144 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Fidelis Insurance by 1,862.9% during the 4th quarter. Venturi Wealth Management LLC now owns 6,144 shares of the company's stock valued at $111,000 after buying an additional 5,831 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Fidelis Insurance in the 4th quarter worth approximately $235,000. Schonfeld Strategic Advisors LLC bought a new position in Fidelis Insurance in the 4th quarter worth approximately $247,000. Finally, ProShare Advisors LLC purchased a new position in Fidelis Insurance in the 4th quarter valued at approximately $262,000. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on FIHL. JPMorgan Chase & Co. cut their target price on Fidelis Insurance from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Citigroup restated an "outperform" rating on shares of Fidelis Insurance in a research report on Friday, May 16th. 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. Barclays cut their price target on shares of Fidelis Insurance from $18.00 to $16.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Fidelis Insurance from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $20.14.

Fidelis Insurance Price Performance

FIHL traded up $0.09 during midday trading on Thursday, hitting $16.78. The stock had a trading volume of 732,335 shares, compared to its average volume of 557,104. Fidelis Insurance Holdings Limited has a 1 year low of $14.17 and a 1 year 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 has a fifty day moving average of $16.65 and a 200 day moving average of $16.79. The company has a market cap of $1.86 billion, a P/E ratio of 4.24 and a beta of 0.34.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $658.40 million during the quarter, compared to analysts' expectations of $578.57 million. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. As a group, equities analysts forecast that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.38%. Fidelis Insurance's dividend payout ratio (DPR) is currently -307.69%.

About Fidelis Insurance

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.