The Manufacturers Life Insurance Company Grows Stock Holdings in Fidelis Insurance Holdings Limited (NYSE:FIHL)

The Manufacturers Life Insurance Company lifted its stake in Fidelis Insurance Holdings Limited (NYSE:FIHL) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,097 shares of the company’s stock after buying an additional 770 shares during the period. The Manufacturers Life Insurance Company’s holdings in Fidelis Insurance were worth $327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of Fidelis Insurance in the 3rd quarter valued at about $6,424,000. Principal Financial Group Inc. purchased a new position in shares of Fidelis Insurance during the 3rd quarter worth approximately $1,144,000. Interval Partners LP grew its holdings in shares of Fidelis Insurance by 75.6% during the 2nd quarter. Interval Partners LP now owns 248,116 shares of the company’s stock worth $4,047,000 after acquiring an additional 106,845 shares during the period. Lighthouse Investment Partners LLC purchased a new position in shares of Fidelis Insurance during the 2nd quarter worth approximately $1,196,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Fidelis Insurance during the 2nd quarter worth approximately $566,000. Institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Stock Performance

Fidelis Insurance stock opened at $19.08 on Monday. The stock’s 50 day moving average is $18.78 and its 200 day moving average is $17.81. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. Fidelis Insurance Holdings Limited has a twelve month low of $11.80 and a twelve month high of $21.32. The company has a market capitalization of $2.25 billion, a P/E ratio of 4.82 and a beta of 0.30.

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.10%. Fidelis Insurance’s dividend payout ratio is 10.10%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FIHL shares. The Goldman Sachs Group started coverage on Fidelis Insurance in a report on Tuesday, September 17th. They set a “neutral” rating and a $18.50 target price on the stock. Keefe, Bruyette & Woods upped their target price on Fidelis Insurance from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, Barclays began coverage on Fidelis Insurance in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $21.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Fidelis Insurance has an average rating of “Moderate Buy” and a consensus target price of $21.50.

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.