Wedge Capital Management L L P NC Increases Stock Position in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Wedge Capital Management L L P NC increased its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 29.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,123 shares of the company’s stock after buying an additional 16,543 shares during the period. Wedge Capital Management L L P NC owned 0.06% of Fidelis Insurance worth $1,168,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in Fidelis Insurance by 6.7% during the fourth quarter. American Century Companies Inc. now owns 3,577,018 shares of the company’s stock valued at $64,851,000 after purchasing an additional 225,952 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Fidelis Insurance by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 3,240,681 shares of the company’s stock worth $58,754,000 after purchasing an additional 162,524 shares during the last quarter. Zimmer Partners LP purchased a new position in Fidelis Insurance in the 4th quarter valued at about $31,991,000. Citadel Advisors LLC lifted its stake in Fidelis Insurance by 2,922.7% in the 4th quarter. Citadel Advisors LLC now owns 1,569,863 shares of the company’s stock valued at $28,462,000 after buying an additional 1,517,927 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in Fidelis Insurance in the 4th quarter worth about $24,435,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Fidelis Insurance Stock Performance

NYSE:FIHL opened at $16.95 on Wednesday. The company’s 50-day moving average price is $16.59 and its 200-day moving average price is $16.82. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.88 billion, a P/E ratio of 4.28 and a beta of 0.34. Fidelis Insurance Holdings Limited has a twelve month low of $14.17 and a twelve month high of $21.32.

Fidelis Insurance (NYSE:FIHL) last issued its earnings results on Wednesday, May 14th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.02. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. The company had revenue of $658.40 million for the quarter, compared to the consensus estimate of $578.57 million. On average, sell-side analysts forecast that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders 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 yield of 2.36%. The ex-dividend date of this dividend is Monday, June 16th. Fidelis Insurance’s dividend payout ratio (DPR) is presently -307.69%.

Analyst Upgrades and Downgrades

FIHL has been the subject of a number of research analyst reports. JMP Securities increased their target price on Fidelis Insurance from $24.00 to $27.00 and gave the company a “market outperform” rating in a report on Friday, May 16th. Keefe, Bruyette & Woods decreased their price objective on Fidelis Insurance from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Citigroup reaffirmed an “outperform” rating on shares of Fidelis Insurance in a research note on Friday, May 16th. UBS Group increased their target price on shares of Fidelis Insurance from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Finally, Barclays decreased 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 research note on Friday, April 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.14.

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.