JPMorgan Chase & Co. Raises Stake in Fidelis Insurance Holdings Limited $FIHL

JPMorgan Chase & Co. grew its holdings in Fidelis Insurance Holdings Limited (NYSE:FIHL) by 332.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 937,527 shares of the company’s stock after buying an additional 720,734 shares during the period. JPMorgan Chase & Co. owned 0.85% of Fidelis Insurance worth $15,544,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. EMC Capital Management purchased a new position in shares of Fidelis Insurance during the second quarter worth about $131,000. Empowered Funds LLC lifted its position in Fidelis Insurance by 0.3% during the 2nd quarter. Empowered Funds LLC now owns 443,779 shares of the company’s stock worth $7,358,000 after acquiring an additional 1,209 shares during the period. LSV Asset Management grew its stake in shares of Fidelis Insurance by 23.3% in the 2nd quarter. LSV Asset Management now owns 3,119,180 shares of the company’s stock valued at $51,716,000 after purchasing an additional 589,985 shares during the last quarter. Creative Planning increased its holdings in shares of Fidelis Insurance by 379.6% in the second quarter. Creative Planning now owns 68,411 shares of the company’s stock valued at $1,134,000 after purchasing an additional 54,146 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in shares of Fidelis Insurance by 15.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 13,526 shares of the company’s stock worth $224,000 after purchasing an additional 1,788 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Fidelis Insurance from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 11th. The Goldman Sachs Group raised their target price on shares of Fidelis Insurance from $16.50 to $17.00 and gave the stock a “sell” rating in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fidelis Insurance in a research note on Monday, December 1st. Evercore ISI increased their price target on shares of Fidelis Insurance from $19.00 to $20.00 and gave the stock an “in-line” rating in a report on Thursday, November 13th. Finally, UBS Group raised their price objective on shares of Fidelis Insurance from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Fidelis Insurance presently has a consensus rating of “Hold” and an average target price of $21.14.

Fidelis Insurance Stock Performance

NYSE:FIHL opened at $18.07 on Friday. The firm’s fifty day simple moving average is $18.41 and its 200-day simple moving average is $17.28. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.00 billion, a PE ratio of -361.30 and a beta of 0.25. Fidelis Insurance Holdings Limited has a fifty-two week low of $14.17 and a fifty-two week high of $20.08.

Fidelis Insurance (NYSE:FIHL) last released its quarterly earnings data on Wednesday, November 12th. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. Fidelis Insurance had a negative net margin of 0.56% and a negative return on equity of 0.94%. The firm had revenue of $651.90 million for the quarter, compared to the consensus estimate of $676.79 million. Analysts expect that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Wednesday, December 10th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.3%. Fidelis Insurance’s dividend payout ratio is currently -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.