Prospector Partners LLC Grows Stake in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Prospector Partners LLC grew its holdings in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 577,628 shares of the company’s stock after purchasing an additional 3,710 shares during the period. Prospector Partners LLC’s holdings in Fidelis Insurance were worth $9,421,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cambridge Trust Co. acquired a new position in Fidelis Insurance during the 1st quarter valued at approximately $58,000. EntryPoint Capital LLC purchased a new position in Fidelis Insurance in the 1st quarter worth $63,000. Ameritas Investment Partners Inc. lifted its position in Fidelis Insurance by 297.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,043 shares of the company’s stock worth $118,000 after acquiring an additional 4,523 shares during the period. California State Teachers Retirement System grew its stake in Fidelis Insurance by 144.4% during the 1st quarter. California State Teachers Retirement System now owns 6,103 shares of the company’s stock valued at $119,000 after purchasing an additional 3,606 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Fidelis Insurance in the second quarter valued at about $140,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $24.00 target price on shares of Fidelis Insurance in a research report on Friday, August 16th. Barclays assumed coverage on shares of Fidelis Insurance in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $21.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of Fidelis Insurance in a report on Tuesday, September 17th. They set a “neutral” rating and a $18.50 target price for the company. Evercore ISI started coverage on shares of Fidelis Insurance in a report on Wednesday, July 17th. They issued an “inline” rating and a $19.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Fidelis Insurance from $18.50 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.94.

Fidelis Insurance Price Performance

NYSE:FIHL opened at $17.93 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. Fidelis Insurance Holdings Limited has a 52 week low of $11.55 and a 52 week high of $20.53. The stock’s 50-day moving average price is $17.78 and its 200-day moving average price is $17.75. The stock has a market capitalization of $2.11 billion, a PE ratio of 4.35 and a beta of -0.10.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.15). The business 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%. As a group, equities analysts expect that Fidelis Insurance Holdings Limited will post 2.94 EPS for the current fiscal year.

Fidelis Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Monday, September 16th. Fidelis Insurance’s dividend payout ratio is presently 9.71%.

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.