Federated Hermes Inc. Buys 474,714 Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL)

Federated Hermes Inc. lifted its stake in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 78.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,078,668 shares of the company’s stock after acquiring an additional 474,714 shares during the period. Federated Hermes Inc. owned approximately 0.91% of Fidelis Insurance worth $17,593,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FIHL. American Century Companies Inc. increased its holdings in Fidelis Insurance by 62.0% during the 2nd quarter. American Century Companies Inc. now owns 3,265,564 shares of the company’s stock worth $53,261,000 after purchasing an additional 1,249,853 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Fidelis Insurance in the 2nd quarter valued at approximately $140,000. Caprock Group LLC bought a new stake in Fidelis Insurance in the 2nd quarter valued at approximately $265,000. Natixis Advisors LLC acquired a new position in Fidelis Insurance during the 2nd quarter worth approximately $1,108,000. Finally, SG Americas Securities LLC acquired a new position in Fidelis Insurance during the 2nd quarter worth approximately $2,381,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Fidelis Insurance Price Performance

NYSE:FIHL opened at $17.60 on Monday. The company has a market cap of $2.08 billion, a P/E ratio of 4.27 and a beta of -0.10. The firm’s fifty day moving average price is $17.67 and its two-hundred day moving average price is $17.71. Fidelis Insurance Holdings Limited has a one year low of $11.55 and a one 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.

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

Fidelis Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.27%. Fidelis Insurance’s dividend payout ratio (DPR) is currently 9.71%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $24.00 price objective on shares of Fidelis Insurance in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Fidelis Insurance from $18.50 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Barclays assumed coverage on shares of Fidelis Insurance in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $21.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and set a $24.00 target price on shares of Fidelis Insurance in a report on Friday, August 16th. Finally, Evercore ISI began coverage on Fidelis Insurance in a research note on Wednesday, July 17th. They issued an “inline” rating and a $19.00 price target for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.13.

Fidelis Insurance 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.