EMC Capital Management Invests $131,000 in Fidelis Insurance Holdings Limited $FIHL

EMC Capital Management bought a new stake in Fidelis Insurance Holdings Limited (NYSE:FIHL) in the second quarter, HoldingsChannel reports. The fund bought 7,907 shares of the company’s stock, valued at approximately $131,000.

Other hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management increased its position in Fidelis Insurance by 87.7% during the first quarter. LSV Asset Management now owns 2,529,195 shares of the company’s stock worth $40,973,000 after buying an additional 1,181,439 shares during the period. Cooperman Leon G grew its position in shares of Fidelis Insurance by 27.5% during the first quarter. Cooperman Leon G now owns 4,799,778 shares of the company’s stock worth $77,756,000 after acquiring an additional 1,036,019 shares during the last quarter. Nuveen LLC acquired a new position in shares of Fidelis Insurance in the 1st quarter valued at $12,862,000. Doma Perpetual Capital Management LLC purchased a new stake in Fidelis Insurance in the 1st quarter valued at $7,551,000. Finally, Goldman Sachs Group Inc. raised its position in Fidelis Insurance by 55.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 896,089 shares of the company’s stock valued at $14,517,000 after purchasing an additional 320,242 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FIHL shares. Keefe, Bruyette & Woods lowered their target price on Fidelis Insurance from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, November 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fidelis Insurance in a research note on Wednesday, October 8th. Evercore ISI raised their target price on shares of Fidelis Insurance from $19.00 to $20.00 and gave the stock an “in-line” rating in a research note on Thursday, November 13th. Barclays lifted their target price on shares of Fidelis Insurance from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group increased their price target on shares of Fidelis Insurance from $16.50 to $17.00 and gave the stock a “sell” rating in a report on Wednesday. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.14.

Fidelis Insurance Trading Down 0.7%

Shares of FIHL opened at $18.77 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average is $18.12 and its two-hundred day moving average is $17.15. Fidelis Insurance Holdings Limited has a twelve month low of $14.17 and a twelve month high of $20.85. The firm has a market capitalization of $2.08 billion, a P/E ratio of -375.32 and a beta of 0.27.

Fidelis Insurance (NYSE:FIHL) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.02. The company had revenue of $797.50 million during the quarter, compared to the consensus estimate of $676.79 million. Fidelis Insurance had a negative net margin of 0.56% and a negative return on equity of 0.94%. On average, research analysts predict that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 10th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, December 10th. Fidelis Insurance’s payout ratio is presently -1,200.00%.

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.