Zimmer Partners LP Sells 77,812 Shares of Fidelis Insurance Holdings Limited $FIHL

Key Points

• Zimmer Partners LP decreased its stake in Fidelis Insurance Holdings Limited by 4.4%, now owning approximately 1.51% of the company, valued at $27.3 million.
• Fidelis Insurance recently announced a quarterly dividend increase from $0.10 to $0.15 per share, representing an annual yield of 3.4%.
• Fidelis Insurance reported earnings per share of $0.12, surpassing consensus estimates, with revenues totaling $1.22 billion, significantly above analyst expectations of $604.62 million.

Zimmer Partners LP decreased its holdings in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 4.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,686,739 shares of the company's stock after selling 77,812 shares during the period. Zimmer Partners LP owned 1.51% of Fidelis Insurance worth $27,325,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Garde Capital Inc. purchased a new position in shares of Fidelis Insurance during the first quarter valued at approximately $62,000. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 4,144 shares in the last quarter. Fiduciary Family Office LLC purchased a new position in Fidelis Insurance during the 1st quarter valued at $162,000. EntryPoint Capital LLC bought a new position in Fidelis Insurance in the 1st quarter worth $181,000. Finally, Jump Financial LLC bought a new position in Fidelis Insurance in the 1st quarter worth $193,000. 81.99% of the stock is currently owned by institutional investors.

Fidelis Insurance Stock Up 0.7%

Shares of NYSE FIHL traded up $0.12 on Friday, reaching $17.54. 450,112 shares of the company's stock traded hands, compared to its average volume of 567,204. Fidelis Insurance Holdings Limited has a 12 month low of $14.17 and a 12 month high of $21.32. The business's 50 day simple moving average is $16.51 and its two-hundred day simple moving average is $16.34. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -42.79 and a beta of 0.26. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.36.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $604.62 million. As a group, equities research analysts forecast that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current fiscal year.

Fidelis Insurance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.15 per share. 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 dividend yield of 3.4%. Fidelis Insurance's dividend payout ratio is -97.56%.

Analyst Ratings Changes

FIHL has been the topic of a number of research reports. Barclays lifted their target price on shares of Fidelis Insurance from $16.00 to $17.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods upped their target price on Fidelis Insurance from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Finally, Zacks Research raised Fidelis Insurance from a "strong sell" rating to a "hold" rating in a research report on Thursday. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $20.67.

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.