Wellington Management Group LLP Grows Stock Position in Fidelis Insurance Holdings Limited $FIHL

Key Points

• Wellington Management Group LLP increased its holdings in Fidelis Insurance Holdings Limited (NYSE: FIHL) by 4.5%, acquiring an additional 146,116 shares, bringing its total to 3,386,797 shares valued at approximately $54.87 million.
• Fidelis Insurance reported a positive earnings surprise with an EPS of $0.12, surpassing analysts' estimates, and generated $1.22 billion in revenue for the quarter.
• The company’s stock has a current market capitalization of $1.94 billion, with shares trading at $17.54 and analyst ratings varying from "Buy" to "Strong Sell," reflecting a consensus average target price of $20.67.

Wellington Management Group LLP boosted its holdings in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,386,797 shares of the company's stock after acquiring an additional 146,116 shares during the quarter. Wellington Management Group LLP owned about 3.03% of Fidelis Insurance worth $54,866,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Garde Capital Inc. purchased a new position in Fidelis Insurance in the first quarter worth $62,000. GAMMA Investing LLC raised its position in 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 acquiring an additional 4,144 shares in the last quarter. Fiduciary Family Office LLC purchased a new position in Fidelis Insurance in the first quarter worth $162,000. Schonfeld Strategic Advisors LLC purchased a new position in Fidelis Insurance in the fourth quarter worth $247,000. Finally, ProShare Advisors LLC acquired a new stake in Fidelis Insurance in the fourth quarter valued at $262,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Zacks Research lowered Fidelis Insurance from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 13th. Barclays upped their target price on Fidelis Insurance from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. JMP Securities upped their target price on Fidelis Insurance from $24.00 to $27.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Citigroup reissued an "outperform" rating on shares of Fidelis Insurance in a report on Friday, May 16th. Finally, Keefe, Bruyette & Woods upped their target price on Fidelis Insurance from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $20.67.

Fidelis Insurance Price Performance

Shares of FIHL traded up $0.09 during trading hours on Thursday, reaching $17.29. 254,929 shares of the company traded hands, compared to its average volume of 650,927. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.91 billion, a PE ratio of -42.19 and a beta of 0.25. Fidelis Insurance Holdings Limited has a fifty-two week low of $14.17 and a fifty-two week high of $21.32. The stock has a fifty day simple moving average of $16.22 and a 200 day simple moving average of $16.19.

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

Fidelis Insurance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 16th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.5%. This is a boost from Fidelis Insurance's previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, September 16th. Fidelis Insurance's dividend payout ratio (DPR) is currently -146.34%.

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.