Wells Fargo & Company MN boosted its position in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) by 77.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,484 shares of the company's stock after buying an additional 18,562 shares during the period. Wells Fargo & Company MN's holdings in Fidelis Insurance were worth $770,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Fidelis Insurance during the fourth quarter worth about $26,000. New York State Common Retirement Fund increased its holdings in Fidelis Insurance by 22.4% during the 4th quarter. New York State Common Retirement Fund now owns 15,311 shares of the company's stock worth $278,000 after purchasing an additional 2,800 shares in the last quarter. Rhumbline Advisers increased its holdings in Fidelis Insurance by 5.1% during the 4th quarter. Rhumbline Advisers now owns 76,054 shares of the company's stock worth $1,379,000 after purchasing an additional 3,689 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Fidelis Insurance by 1,862.9% in the fourth quarter. Venturi Wealth Management LLC now owns 6,144 shares of the company's stock worth $111,000 after purchasing an additional 5,831 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Fidelis Insurance by 10.7% during the fourth quarter. Principal Financial Group Inc. now owns 70,149 shares of the company's stock valued at $1,272,000 after buying an additional 6,786 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have weighed in on FIHL. The Goldman Sachs Group restated a "sell" rating and set a $16.00 price objective (down from $21.00) on shares of Fidelis Insurance in a research note on Wednesday, January 8th. Barclays cut their price target on shares of Fidelis Insurance from $18.00 to $16.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. decreased their price objective on shares of Fidelis Insurance from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods cut their target price on Fidelis Insurance from $22.00 to $20.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, UBS Group increased their price target on Fidelis Insurance from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $19.71.
Check Out Our Latest Report on Fidelis Insurance
Fidelis Insurance Stock Performance
NYSE FIHL remained flat at $16.69 on Wednesday. The company's stock had a trading volume of 365,177 shares, compared to its average volume of 569,515. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68. The stock's 50 day simple moving average is $15.77 and its two-hundred day simple moving average is $17.03. Fidelis Insurance Holdings Limited has a 1-year low of $14.17 and a 1-year high of $21.32. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 4.21 and a beta of 0.28.
Fidelis Insurance (NYSE:FIHL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of $0.93 by ($1.98). The firm had revenue of $685.90 million during the quarter, compared to analysts' expectations of $661.52 million. Fidelis Insurance had a return on equity of 15.27% and a net margin of 20.17%. Analysts expect that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current fiscal year.
Fidelis Insurance Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 16th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, June 16th. Fidelis Insurance's payout ratio is currently 42.55%.
About Fidelis Insurance
(
Free Report)
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.
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