Raymond James Financial Inc. Invests $1.14 Million in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Raymond James Financial Inc. bought a new position in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 62,976 shares of the company's stock, valued at approximately $1,142,000. Raymond James Financial Inc. owned about 0.05% of Fidelis Insurance as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new position in shares of Fidelis Insurance in the 4th quarter worth about $26,000. Invesco Ltd. lifted its holdings in Fidelis Insurance by 1.6% in the fourth quarter. Invesco Ltd. now owns 91,317 shares of the company's stock worth $1,656,000 after acquiring an additional 1,475 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Fidelis Insurance by 3.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 64,379 shares of the company's stock worth $1,167,000 after acquiring an additional 1,967 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Fidelis Insurance by 22.4% in the fourth quarter. New York State Common Retirement Fund now owns 15,311 shares of the company's stock valued at $278,000 after acquiring an additional 2,800 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Fidelis Insurance by 5.1% during the fourth quarter. Rhumbline Advisers now owns 76,054 shares of the company's stock valued at $1,379,000 after purchasing an additional 3,689 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FIHL. Keefe, Bruyette & Woods reduced their price objective 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. JPMorgan Chase & Co. lowered their price target on shares of Fidelis Insurance from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Barclays cut their price objective on shares of Fidelis Insurance from $18.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Finally, UBS Group upped their target price 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $19.71.

Fidelis Insurance Price Performance

Shares of FIHL stock traded up $0.16 during midday trading on Friday, reaching $16.98. 581,089 shares of the company were exchanged, compared to its average volume of 569,000. Fidelis Insurance Holdings Limited has a 12 month low of $14.17 and a 12 month high of $21.32. The company has a market cap of $1.90 billion, a P/E ratio of 4.29 and a beta of 0.28. The company's 50 day moving average price is $15.86 and its two-hundred day moving average price is $17.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.68 and a current ratio of 0.68.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last posted 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 return on equity of 15.27% and a net margin of 20.17%. On average, sell-side analysts expect that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current year.

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 16th will be issued a $0.10 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.36%. Fidelis Insurance's payout ratio is currently 42.55%.

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.