Wedge Capital Management L L P NC Purchases New Position in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Wedge Capital Management L L P NC purchased a new position in Fidelis Insurance Holdings Limited (NYSE:FIHL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 55,580 shares of the company's stock, valued at approximately $1,008,000.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. bought a new stake in shares of Fidelis Insurance during the 3rd quarter worth $1,144,000. Empowered Funds LLC bought a new position in shares of Fidelis Insurance during the 3rd quarter valued at about $6,424,000. Barclays PLC lifted its position in Fidelis Insurance by 306.7% in the 3rd quarter. Barclays PLC now owns 68,184 shares of the company's stock worth $1,231,000 after buying an additional 51,419 shares during the last quarter. Interval Partners LP lifted its position in Fidelis Insurance by 75.6% in the 2nd quarter. Interval Partners LP now owns 248,116 shares of the company's stock worth $4,047,000 after buying an additional 106,845 shares during the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in Fidelis Insurance during the second quarter valued at approximately $1,196,000. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Fidelis Insurance from $21.00 to $20.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. Barclays cut their price target on shares of Fidelis Insurance from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group reiterated a "sell" rating and issued a $16.00 price objective (down previously from $21.00) on shares of Fidelis Insurance in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods dropped their target price on Fidelis Insurance from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $20.86.

Fidelis Insurance Stock Performance

Shares of NYSE:FIHL opened at $16.62 on Tuesday. 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 company has a 50-day moving average price of $18.58 and a 200-day moving average price of $18.04. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 4.20 and a beta of 0.53. Fidelis Insurance Holdings Limited has a 12 month low of $12.20 and a 12 month high of $21.32.

Fidelis Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Friday, November 29th. Fidelis Insurance's dividend payout ratio (DPR) is currently 10.10%.

Fidelis Insurance Company 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.