Optimize Financial Inc Invests $319,000 in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Optimize Financial Inc acquired a new stake in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,609 shares of the company's stock, valued at approximately $319,000.

A number of other hedge funds have also recently made changes to their positions in FIHL. Sterling Capital Management LLC lifted its stake in Fidelis Insurance by 6.5% during the 4th quarter. Sterling Capital Management LLC now owns 23,889 shares of the company's stock valued at $433,000 after acquiring an additional 1,448 shares in the last quarter. LSV Asset Management bought a new stake in Fidelis Insurance in the 4th quarter worth about $24,435,000. Raymond James Financial Inc. bought a new position in shares of Fidelis Insurance during the 4th quarter worth approximately $1,142,000. Renaissance Technologies LLC grew its holdings in shares of Fidelis Insurance by 128.4% in the fourth quarter. Renaissance Technologies LLC now owns 118,985 shares of the company's stock valued at $2,157,000 after acquiring an additional 66,885 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Fidelis Insurance by 38.8% during the fourth quarter. Legal & General Group Plc now owns 19,971 shares of the company's stock valued at $362,000 after acquiring an additional 5,583 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Fidelis Insurance Price Performance

FIHL traded up $0.13 during trading on Friday, reaching $16.13. 437,406 shares of the company were exchanged, compared to its average volume of 580,721. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 4.07 and a beta of 0.28. Fidelis Insurance Holdings Limited has a 12-month low of $14.17 and a 12-month high of $21.32. The company's 50-day moving average is $15.59 and its two-hundred day moving average is $17.18.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($1.98). The firm had revenue of $685.90 million during the quarter, compared to the consensus estimate of $661.52 million. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. Research analysts forecast that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.40 dividend on an annualized basis and a yield of 2.48%. Fidelis Insurance's dividend payout ratio is currently 42.55%.

Wall Street Analyst Weigh In

FIHL has been the subject of a number of recent analyst reports. Barclays reduced their price objective on 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. UBS Group lifted their price objective on shares of Fidelis Insurance from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. The Goldman Sachs Group restated a "sell" rating and set a $16.00 price target (down previously from $21.00) on shares of Fidelis Insurance in a research note on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on Fidelis Insurance from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods decreased their target price on Fidelis Insurance from $22.00 to $20.00 and set an "outperform" rating for the company 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 three have issued a buy rating to the stock. Based on data from MarketBeat.com, Fidelis Insurance has a consensus rating of "Hold" and a consensus target price of $19.71.

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.