Bank of New York Mellon Corp Lowers Stake in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Bank of New York Mellon Corp lowered its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 2.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 143,697 shares of the company’s stock after selling 2,868 shares during the period. Bank of New York Mellon Corp’s holdings in Fidelis Insurance were worth $2,605,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in FIHL. The Manufacturers Life Insurance Company lifted its position in shares of Fidelis Insurance by 4.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 18,097 shares of the company’s stock valued at $327,000 after acquiring an additional 770 shares during the period. R Squared Ltd purchased a new stake in shares of Fidelis Insurance in the fourth quarter valued at $26,000. New York State Common Retirement Fund boosted its position in shares of Fidelis Insurance by 22.4% in the fourth quarter. New York State Common Retirement Fund now owns 15,311 shares of the company’s stock worth $278,000 after acquiring an additional 2,800 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Fidelis Insurance by 5.1% during the 4th quarter. Rhumbline Advisers now owns 76,054 shares of the company’s stock worth $1,379,000 after buying an additional 3,689 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of Fidelis Insurance by 1,862.9% in the 4th quarter. Venturi Wealth Management LLC now owns 6,144 shares of the company’s stock valued at $111,000 after purchasing an additional 5,831 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FIHL. JPMorgan Chase & Co. reduced 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. Keefe, Bruyette & Woods dropped their target price on shares of Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Barclays cut their target price on Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 20th. UBS Group lifted their target price on Fidelis Insurance from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $16.00 price objective (down previously from $21.00) on shares of Fidelis Insurance in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.57.

Fidelis Insurance Trading Up 0.4 %

NYSE:FIHL opened at $15.64 on Friday. The company has a quick ratio of 0.68, a current 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 $1.75 billion, a price-to-earnings ratio of 3.95 and a beta of 0.61. The stock has a fifty day simple moving average of $15.89 and a 200 day simple moving average of $17.51.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($1.98). The business had revenue of $685.90 million for 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%. Sell-side analysts forecast that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current year.

Fidelis Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.40 annualized dividend and a dividend yield of 2.56%. Fidelis Insurance’s payout ratio is 42.55%.

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.