Fox Run Management L.L.C. Purchases New Position in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Fox Run Management L.L.C. purchased a new position in Fidelis Insurance Holdings Limited (NYSE:FIHL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,978 shares of the company’s stock, valued at approximately $235,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Intech Investment Management LLC purchased a new position in shares of Fidelis Insurance during the 3rd quarter worth approximately $269,000. Charles Schwab Investment Management Inc. grew its stake in Fidelis Insurance by 7.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 124,828 shares of the company’s stock worth $2,254,000 after purchasing an additional 8,992 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Fidelis Insurance by 4.4% in the third quarter. The Manufacturers Life Insurance Company now owns 18,097 shares of the company’s stock worth $327,000 after purchasing an additional 770 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Fidelis Insurance in the third quarter worth $2,068,000. Finally, Martingale Asset Management L P lifted its position in Fidelis Insurance by 6.7% during the third quarter. Martingale Asset Management L P now owns 127,593 shares of the company’s stock valued at $2,304,000 after buying an additional 7,997 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 20th. JPMorgan Chase & Co. cut their price objective on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods lowered their target price on shares of Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. UBS Group upped their price target on Fidelis Insurance from $23.00 to $25.00 and gave the stock 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 assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.57.

Fidelis Insurance Price Performance

Shares of FIHL opened at $16.22 on Friday. The company has a market capitalization of $1.81 billion, a P/E ratio of 4.09 and a beta of 0.61. Fidelis Insurance Holdings Limited has a twelve month low of $14.17 and a twelve month high of $21.32. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $15.84 and a 200 day moving average of $17.43.

Fidelis Insurance (NYSE:FIHL) last posted its earnings results on Tuesday, February 25th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($1.98). The business had revenue of $685.90 million during the quarter, compared to the consensus estimate of $661.52 million. Fidelis Insurance had a return on equity of 15.27% and a net margin of 20.17%. As a group, equities research analysts anticipate that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Wednesday, March 12th. Fidelis Insurance’s dividend payout ratio is currently 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.