Fidelis Insurance (NYSE:FIHL) Shares Climb 2.3% - Here's Why

Key Points

• Fidelis Insurance shares rose 2.3% to $26.21, reaching an intraday high of $26.2650, with trading volume 15% above average.
• The company has a $2.53 billion market capitalization, an 11.86 price-to-earnings ratio, and shares trading above both their 50-day and 200-day moving averages.
• Institutional investors own 81.99% of Fidelis, with several major firms increasing their stakes; the company provides specialty insurance and reinsurance for complex risks across global markets.

Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report) rose 2.3% during trading on Friday. The stock traded as high as $26.2650 and last traded at $26.21. Approximately 411,563 shares were traded during mid-day trading, an increase of 15% from the average session volume of 358,382 shares. The stock had previously closed at $25.63.

Fidelis Insurance Stock Performance

The company has a market cap of $2.53 billion, a price-to-earnings ratio of 11.86 and a beta of 0.36. The firm's 50 day simple moving average is $24.44 and its 200-day simple moving average is $23.50. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 0.74.

Institutional Investors Weigh In On Fidelis Insurance

Several large investors have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. acquired a new position in shares of Fidelis Insurance in the 1st quarter valued at $7,367,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Fidelis Insurance by 28.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 208,605 shares of the company's stock valued at $3,986,000 after purchasing an additional 46,387 shares during the period. Bank of America Corp DE raised its position in Fidelis Insurance by 31.1% during the 1st quarter. Bank of America Corp DE now owns 155,101 shares of the company's stock worth $2,964,000 after buying an additional 36,811 shares during the last quarter. Stephens Inc. AR lifted its position in Fidelis Insurance by 12.7% in the first quarter. Stephens Inc. AR now owns 267,329 shares of the company's stock valued at $5,109,000 after purchasing an additional 30,124 shares during the period. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of Fidelis Insurance in the 2nd quarter valued at approximately $980,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Limited is a specialty insurance and reinsurance company that operates through platforms in Bermuda, the United Kingdom and the United States. The company provides insurance solutions for complex and customized risks that may not be fully served by standard commercial insurers.

Its business includes bespoke insurance, specialty insurance and reinsurance products. Fidelis serves a range of industries and risk categories, including property, energy, marine, aviation, financial and professional lines, casualty and other specialty markets.

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