JPMorgan Chase & Co. Has $2.05 Million Stake in Fidelis Insurance Holdings Limited (NYSE:FIHL)

JPMorgan Chase & Co. decreased its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 56.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,612 shares of the company’s stock after selling 148,885 shares during the period. JPMorgan Chase & Co. owned 0.10% of Fidelis Insurance worth $2,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in shares of Fidelis Insurance in the third quarter valued at about $195,000. Summit Global Investments bought a new stake in shares of Fidelis Insurance during the third quarter valued at approximately $238,000. Intech Investment Management LLC bought a new stake in shares of Fidelis Insurance during the third quarter valued at approximately $269,000. The Manufacturers Life Insurance Company increased its position in shares of Fidelis Insurance by 3.9% during the second quarter. The Manufacturers Life Insurance Company now owns 17,327 shares of the company’s stock valued at $283,000 after purchasing an additional 649 shares during the period. Finally, ClearAlpha Technologies LP bought a new stake in shares of Fidelis Insurance during the third quarter valued at approximately $298,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Fidelis Insurance Price Performance

Fidelis Insurance stock opened at $16.55 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $1.95 billion, a P/E ratio of 4.18 and a beta of 0.53. The business’s fifty day moving average is $18.58 and its two-hundred day moving average is $18.04. Fidelis Insurance Holdings Limited has a 52 week low of $12.43 and a 52 week high of $21.32.

Fidelis Insurance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Friday, November 29th. Fidelis Insurance’s dividend payout ratio is currently 10.10%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FIHL. The Goldman Sachs Group restated a “sell” rating and set a $16.00 price objective (down from $21.00) on shares of Fidelis Insurance in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods lowered their price objective on Fidelis Insurance from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Barclays lowered their price target on Fidelis Insurance from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their price target on Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.86.

About Fidelis Insurance

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.