Royce & Associates LP lowered its stake in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL – Free Report) by 25.4% in the fourth quarter, Holdings Channel reports. The firm owned 1,187,213 shares of the company’s stock after selling 404,046 shares during the period. Royce & Associates LP’s holdings in Fidelis Insurance were worth $23,234,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of FIHL. Focus Partners Wealth purchased a new stake in shares of Fidelis Insurance during the third quarter worth about $77,000. Tower Research Capital LLC TRC increased its stake in shares of Fidelis Insurance by 58.9% during the second quarter. Tower Research Capital LLC TRC now owns 7,786 shares of the company’s stock worth $129,000 after purchasing an additional 2,885 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Fidelis Insurance during the second quarter worth about $169,000. Quadrant Capital Group LLC purchased a new stake in shares of Fidelis Insurance during the third quarter worth about $193,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Fidelis Insurance during the second quarter worth about $217,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Weiss Ratings raised shares of Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, March 6th. Keefe, Bruyette & Woods upped their price objective on shares of Fidelis Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, February 23rd. Wall Street Zen cut shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. UBS Group upped their price objective on shares of Fidelis Insurance from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Barclays upped their price objective on shares of Fidelis Insurance from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.92.
Fidelis Insurance Stock Down 1.2%
Shares of NYSE FIHL opened at $22.79 on Wednesday. Fidelis Insurance Holdings Limited has a 12-month low of $14.80 and a 12-month high of $21.50. The stock has a market cap of $2.20 billion, a PE ratio of 10.31 and a beta of 0.36. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $20.49 and a 200 day moving average of $19.58.
Fidelis Insurance (NYSE:FIHL – Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.94 earnings per share (EPS) for the quarter. Fidelis Insurance had a net margin of 9.02% and a return on equity of 8.62%. The company had revenue of $610.60 million during the quarter. As a group, sell-side analysts predict that Fidelis Insurance Holdings Limited will post 3.19 EPS for the current fiscal year.
Fidelis Insurance Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, June 15th. Fidelis Insurance’s payout ratio is presently 27.15%.
Fidelis Insurance announced that its board has approved a stock buyback plan on Friday, February 20th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 18% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.
Fidelis Insurance Profile
Fidelis Insurance Holdings Ltd is a Bermuda‐incorporated specialty insurer and reinsurer that underwrites a broad range of liability and property risks. Founded in 2015, the company completed its initial public offering on the New York Stock Exchange in 2016 under the ticker FIHL. Fidelis focuses on providing tailored solutions for complex risks that traditional insurers may find difficult to accommodate, leveraging data analytics and underwriting expertise to structure policies across diverse industry segments.
The company’s product portfolio spans casualty lines—including general liability, excess and umbrella, professional indemnity, and management liability—alongside property, marine, energy and specialty programs.
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