Prospector Partners LLC Acquires 3,710 Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL)

Prospector Partners LLC raised its holdings in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 577,628 shares of the company’s stock after purchasing an additional 3,710 shares during the quarter. Prospector Partners LLC owned 0.49% of Fidelis Insurance worth $9,421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Fidelis Insurance by 227.4% during the 1st quarter. Vanguard Group Inc. now owns 562,570 shares of the company’s stock valued at $10,959,000 after buying an additional 390,754 shares during the period. Boston Partners raised its stake in shares of Fidelis Insurance by 213.7% in the first quarter. Boston Partners now owns 714,683 shares of the company’s stock valued at $13,922,000 after acquiring an additional 486,888 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Fidelis Insurance in the 1st quarter worth about $1,287,000. Quadrature Capital Ltd boosted its stake in shares of Fidelis Insurance by 125.0% during the 1st quarter. Quadrature Capital Ltd now owns 65,639 shares of the company’s stock worth $1,279,000 after purchasing an additional 36,464 shares during the period. Finally, SG Americas Securities LLC bought a new position in Fidelis Insurance during the 2nd quarter valued at about $2,381,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FIHL shares. JPMorgan Chase & Co. boosted their target price on Fidelis Insurance from $18.50 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Evercore ISI began coverage on Fidelis Insurance in a report on Wednesday, July 17th. They set an “inline” rating and a $19.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and issued a $24.00 target price on shares of Fidelis Insurance in a research note on Friday, August 16th. The Goldman Sachs Group assumed coverage on shares of Fidelis Insurance in a research note on Tuesday, September 17th. They set a “neutral” rating and a $18.50 target price for the company. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Fidelis Insurance in a research note on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.94.

Fidelis Insurance Stock Down 1.4 %

Shares of Fidelis Insurance stock opened at $17.93 on Friday. Fidelis Insurance Holdings Limited has a 1 year low of $11.55 and a 1 year high of $20.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 4.35 and a beta of -0.10. The firm’s 50-day moving average is $17.78 and its two-hundred day moving average is $17.75.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.15). The business had revenue of $547.10 million during the quarter, compared to the consensus estimate of $582.19 million. Fidelis Insurance had a return on equity of 15.67% and a net margin of 20.96%. As a group, research analysts expect that Fidelis Insurance Holdings Limited will post 2.94 earnings per share for the current fiscal year.

Fidelis Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Monday, September 16th. Fidelis Insurance’s payout ratio is currently 9.71%.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Limited, together with its subsidiaries, provides insurance and reinsurance products 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.