Franklin Resources Inc. Sells 7,191 Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL)

Franklin Resources Inc. decreased its stake in Fidelis Insurance Holdings Limited (NYSE:FIHL) by 11.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,770 shares of the company’s stock after selling 7,191 shares during the period. Franklin Resources Inc.’s holdings in Fidelis Insurance were worth $1,027,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Fidelis Insurance in the 2nd quarter valued at $140,000. Y Intercept Hong Kong Ltd acquired a new position in Fidelis Insurance in the 3rd quarter worth about $195,000. Summit Global Investments bought a new position in Fidelis Insurance in the third quarter valued at about $238,000. Caprock Group LLC acquired a new stake in shares of Fidelis Insurance during the second quarter valued at about $265,000. Finally, Intech Investment Management LLC bought a new stake in shares of Fidelis Insurance during the third quarter worth about $269,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

FIHL has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Fidelis Insurance in a research report on Tuesday, September 17th. They set a “neutral” rating and a $18.50 target price on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Fidelis Insurance from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, Barclays began coverage on Fidelis Insurance in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $21.00 target price for the company. 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Fidelis Insurance Price Performance

Shares of NYSE FIHL opened at $17.61 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.08 billion, a PE ratio of 4.45 and a beta of 0.30. The firm has a fifty day simple moving average of $18.79 and a 200 day simple moving average of $17.92. Fidelis Insurance Holdings Limited has a twelve month low of $11.80 and a twelve month high of $21.32.

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.27%. Fidelis Insurance’s payout ratio is 10.10%.

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.