Principal Financial Group Inc. Invests $1.14 Million in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Principal Financial Group Inc. purchased a new stake in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 63,363 shares of the company's stock, valued at approximately $1,144,000. Principal Financial Group Inc. owned about 0.05% of Fidelis Insurance at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Diversified Trust Co purchased a new position in Fidelis Insurance in the third quarter valued at about $2,457,000. Sanctuary Advisors LLC purchased a new position in Fidelis Insurance in the second quarter valued at approximately $618,000. Ghisallo Capital Management LLC grew its holdings in Fidelis Insurance by 1,038.8% during the second quarter. Ghisallo Capital Management LLC now owns 400,000 shares of the company's stock valued at $6,524,000 after purchasing an additional 364,875 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in Fidelis Insurance in the second quarter worth $1,196,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Fidelis Insurance by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 17,327 shares of the company's stock valued at $283,000 after buying an additional 649 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Fidelis Insurance Price Performance

Shares of FIHL traded down $0.14 during trading hours on Friday, reaching $20.39. 305,609 shares of the company's stock traded hands, compared to its average volume of 447,908. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17. The firm's 50 day simple moving average is $18.21 and its 200-day simple moving average is $17.55. The stock has a market cap of $2.40 billion, a PE ratio of 5.15 and a beta of -0.01. Fidelis Insurance Holdings Limited has a 12 month low of $11.55 and a 12 month high of $21.32.

Fidelis Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Friday, November 29th. Fidelis Insurance's dividend payout ratio (DPR) is currently 10.10%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JMP Securities reissued a "market outperform" rating and issued a $24.00 price objective on shares of Fidelis Insurance in a report on Friday, August 16th. Barclays started coverage on shares of Fidelis Insurance in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $21.00 price objective for the company. The Goldman Sachs Group began coverage on Fidelis Insurance in a research report on Tuesday, September 17th. They set a "neutral" rating and a $18.50 target price on the stock. Finally, Keefe, Bruyette & Woods raised their price target on Fidelis Insurance from $25.00 to $26.00 and gave the stock an "outperform" rating in a report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $20.69.

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.