Principal Financial Group Inc. Raises Position in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Principal Financial Group Inc. lifted its stake in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,149 shares of the company’s stock after buying an additional 6,786 shares during the period. Principal Financial Group Inc. owned about 0.06% of Fidelis Insurance worth $1,272,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FIHL. Wellington Management Group LLP grew its holdings in shares of Fidelis Insurance by 76.4% in the third quarter. Wellington Management Group LLP now owns 3,078,157 shares of the company’s stock valued at $55,592,000 after acquiring an additional 1,332,896 shares in the last quarter. Empowered Funds LLC purchased a new position in Fidelis Insurance in the third quarter worth $6,424,000. Foundry Partners LLC bought a new position in Fidelis Insurance in the 3rd quarter valued at $5,065,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Fidelis Insurance during the 3rd quarter valued at $2,068,000. Finally, Loomis Sayles & Co. L P raised its stake in shares of Fidelis Insurance by 12.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 655,565 shares of the company’s stock worth $11,839,000 after purchasing an additional 74,445 shares during the period. Institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Stock Down 0.6 %

Fidelis Insurance stock opened at $15.23 on Thursday. The firm has a 50 day simple moving average of $16.47 and a 200 day simple moving average of $17.78. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17. Fidelis Insurance Holdings Limited has a 1-year low of $14.17 and a 1-year high of $21.32. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 3.84 and a beta of 0.62.

Fidelis Insurance (NYSE:FIHL) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of $0.93 by ($1.98). The company had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $661.52 million. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. On average, analysts predict that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current year.

Fidelis Insurance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, March 12th. Fidelis Insurance’s payout ratio is 42.55%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FIHL shares. JPMorgan Chase & Co. reduced their price target on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Barclays reduced their target price on shares of Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, February 20th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $16.00 price target (down previously from $21.00) on shares of Fidelis Insurance in a report on Wednesday, January 8th. UBS Group reduced their price objective on Fidelis Insurance from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods lowered their target price on Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.29.

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.