Millennium Management LLC Acquires 532,110 Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL)

Millennium Management LLC lifted its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 181.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 825,772 shares of the company’s stock after purchasing an additional 532,110 shares during the quarter. Millennium Management LLC’s holdings in Fidelis Insurance were worth $14,971,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FIHL. R Squared Ltd bought a new stake in shares of Fidelis Insurance during the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC boosted its position in shares of Fidelis Insurance by 1,862.9% during the fourth 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. Fox Run Management L.L.C. bought a new stake in shares of Fidelis Insurance during the fourth quarter valued at approximately $235,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Fidelis Insurance during the fourth quarter valued at approximately $247,000. Finally, XTX Topco Ltd bought a new stake in shares of Fidelis Insurance during the fourth quarter valued at approximately $277,000. 81.99% of the stock is currently owned by institutional investors.

Fidelis Insurance Price Performance

Shares of NYSE:FIHL opened at $16.43 on Friday. Fidelis Insurance Holdings Limited has a fifty-two week low of $14.17 and a fifty-two week high of $21.32. The business has a 50-day simple moving average of $16.28 and a two-hundred day simple moving average of $17.01. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 4.15 and a beta of 0.28.

Fidelis Insurance (NYSE:FIHL) last issued its earnings results on Wednesday, May 14th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.02. Fidelis Insurance had a return on equity of 15.27% and a net margin of 20.17%. The business had revenue of $658.40 million during the quarter, compared to analyst estimates of $578.57 million. On average, analysts expect that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current year.

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 16th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Monday, June 16th. Fidelis Insurance’s dividend payout ratio (DPR) is -307.69%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FIHL. UBS Group lifted their price target on Fidelis Insurance from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. dropped their target price on Fidelis Insurance from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Citigroup reissued an “outperform” rating on shares of Fidelis Insurance in a report on Friday, May 16th. Keefe, Bruyette & Woods dropped their target price on Fidelis Insurance from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Barclays dropped their target price on Fidelis Insurance from $18.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fidelis Insurance currently has an average rating of “Hold” and a consensus target price of $20.14.

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.