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

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

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

Wall Street Analysts Forecast Growth

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

Fidelis Insurance Trading Down 1.2 %

Shares of FIHL opened at $17.61 on Friday. Fidelis Insurance Holdings Limited has a 1-year low of $11.80 and a 1-year high of $21.32. The firm’s 50-day moving average price is $18.79 and its 200-day moving average price is $17.92. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 4.45 and a beta of 0.30.

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were issued a dividend of $0.10 per share. The ex-dividend date 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 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.