Principal Financial Group Inc. Buys New Shares in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Principal Financial Group Inc. purchased a new stake in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 63,363 shares of the company’s stock, valued at approximately $1,144,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of Fidelis Insurance by 76.4% during the 3rd 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 during the period. American Century Companies Inc. boosted its position in shares of Fidelis Insurance by 62.0% in the second 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 during the period. Federated Hermes Inc. increased its stake in shares of Fidelis Insurance by 78.6% in the second quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company’s stock worth $17,593,000 after purchasing an additional 474,714 shares in the last quarter. Ghisallo Capital Management LLC raised its position in shares of Fidelis Insurance by 1,038.8% during the 2nd quarter. Ghisallo Capital Management LLC now owns 400,000 shares of the company’s stock valued at $6,524,000 after purchasing an additional 364,875 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of Fidelis Insurance during the 3rd quarter valued at $6,424,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FIHL shares. The Goldman Sachs Group began coverage on Fidelis Insurance in a report on Tuesday, September 17th. They set a “neutral” rating and a $18.50 price target on the stock. Keefe, Bruyette & Woods boosted their price target on Fidelis Insurance from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Friday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.50.

Fidelis Insurance Stock Performance

NYSE FIHL opened at $17.29 on Friday. The stock has a market capitalization of $2.04 billion, a PE ratio of 4.37 and a beta of 0.53. Fidelis Insurance Holdings Limited has a 1-year low of $11.80 and a 1-year high of $21.32. The business has a 50 day simple moving average of $18.83 and a two-hundred day simple moving average of $17.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68.

Fidelis Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, November 29th. Fidelis Insurance’s dividend payout ratio is presently 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.