Principal Financial Group Inc. Makes New Investment in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Principal Financial Group Inc. acquired a new stake in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 63,363 shares of the company's stock, valued at approximately $1,144,000. Principal Financial Group Inc. owned approximately 0.05% of Fidelis Insurance as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of FIHL. Natixis Advisors LLC acquired a new stake in shares of Fidelis Insurance during the second quarter valued at about $1,108,000. Caprock Group LLC purchased a new stake in Fidelis Insurance in the 2nd quarter valued at approximately $265,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Fidelis Insurance during the 2nd quarter worth approximately $140,000. American Century Companies Inc. grew its holdings in shares of Fidelis Insurance by 62.0% in the 2nd quarter. American Century Companies Inc. now owns 3,265,564 shares of the company's stock worth $53,261,000 after acquiring an additional 1,249,853 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Fidelis Insurance by 78.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company's stock worth $17,593,000 after buying an additional 474,714 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on FIHL. The Goldman Sachs Group initiated coverage on Fidelis Insurance in a research report on Tuesday, September 17th. They issued a "neutral" rating and a $18.50 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Fidelis Insurance from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Fidelis Insurance from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $21.50.

Fidelis Insurance Stock Performance

NYSE:FIHL traded down $0.69 during mid-day trading on Friday, hitting $17.29. 335,139 shares of the company's stock traded hands, compared to its average volume of 443,270. Fidelis Insurance Holdings Limited has a 12 month low of $11.80 and a 12 month high of $21.32. The firm has a 50 day moving average of $18.83 and a two-hundred day moving average of $18.00. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 4.37 and a beta of 0.53. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17.

Fidelis Insurance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.31%. Fidelis Insurance's dividend payout ratio (DPR) is presently 10.10%.

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.