Jacobs Levy Equity Management Inc. Boosts Stake in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Jacobs Levy Equity Management Inc. raised its position in Fidelis Insurance Holdings Limited (NYSE:FIHL) by 6.7% during the first quarter, HoldingsChannel.com reports. The firm owned 264,672 shares of the company’s stock after buying an additional 16,684 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Fidelis Insurance were worth $5,156,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FIHL. Graypoint LLC acquired a new position in Fidelis Insurance during the fourth quarter valued at approximately $1,776,000. Russell Investments Group Ltd. grew its holdings in Fidelis Insurance by 20.4% during the 4th quarter. Russell Investments Group Ltd. now owns 815,174 shares of the company’s stock worth $10,328,000 after acquiring an additional 138,295 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Fidelis Insurance by 29.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,392,690 shares of the company’s stock worth $17,645,000 after purchasing an additional 317,510 shares during the last quarter. Jump Financial LLC raised its stake in shares of Fidelis Insurance by 94.6% in the 4th quarter. Jump Financial LLC now owns 50,014 shares of the company’s stock valued at $634,000 after purchasing an additional 24,319 shares in the last quarter. Finally, Strategic Advocates LLC bought a new position in shares of Fidelis Insurance during the fourth quarter worth about $180,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Stock Performance

Fidelis Insurance stock traded up $0.35 during trading hours on Wednesday, hitting $17.82. The stock had a trading volume of 64,368 shares, compared to its average volume of 612,970. Fidelis Insurance Holdings Limited has a fifty-two week low of $11.55 and a fifty-two week high of $20.53. The company has a market cap of $2.10 billion and a PE ratio of 4.24. The company has a 50-day moving average of $16.51 and a two-hundred day moving average of $16.60. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.18.

Fidelis Insurance (NYSE:FIHL) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). Fidelis Insurance had a return on equity of 17.97% and a net margin of 23.31%. The business had revenue of $520.00 million for the quarter, compared to analyst estimates of $585.88 million. On average, equities research analysts anticipate that Fidelis Insurance Holdings Limited will post 3.07 EPS for the current fiscal year.

Fidelis Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Friday, June 14th. Fidelis Insurance’s payout ratio is 9.71%.

Wall Street Analysts Forecast Growth

FIHL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Fidelis Insurance from $18.50 to $20.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Evercore ISI began coverage on shares of Fidelis Insurance in a report on Wednesday, July 17th. They set an “inline” rating and a $19.00 price target on the stock. JMP Securities reiterated a “market outperform” rating and issued a $24.00 target price on shares of Fidelis Insurance in a report on Monday, April 15th. UBS Group dropped their target price on Fidelis Insurance from $22.50 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Fidelis Insurance from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

About Fidelis Insurance

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.