Wells Fargo & Company MN Raises Stock Position in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Wells Fargo & Company MN grew its holdings in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 77.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,484 shares of the company’s stock after buying an additional 18,562 shares during the quarter. Wells Fargo & Company MN’s holdings in Fidelis Insurance were worth $770,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FIHL. R Squared Ltd bought a new position in Fidelis Insurance during the fourth quarter valued at $26,000. Venturi Wealth Management LLC boosted its stake in shares of Fidelis Insurance by 1,862.9% during the 4th quarter. Venturi Wealth Management LLC now owns 6,144 shares of the company’s stock worth $111,000 after purchasing an additional 5,831 shares during the period. Fox Run Management L.L.C. bought a new position in Fidelis Insurance during the 4th quarter valued at about $235,000. New York State Common Retirement Fund grew its holdings in Fidelis Insurance by 22.4% during the 4th quarter. New York State Common Retirement Fund now owns 15,311 shares of the company’s stock valued at $278,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Callan Family Office LLC purchased a new stake in Fidelis Insurance in the 4th quarter worth about $363,000. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FIHL shares. Keefe, Bruyette & Woods cut their target price on Fidelis Insurance from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. UBS Group upped their price objective on Fidelis Insurance from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. decreased their target price on Fidelis Insurance from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Barclays cut their price target on shares of Fidelis Insurance from $18.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $16.00 price objective (down previously from $21.00) on shares of Fidelis Insurance in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.71.

Fidelis Insurance Stock Down 1.5 %

NYSE:FIHL opened at $16.11 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68. Fidelis Insurance Holdings Limited has a 1-year low of $14.17 and a 1-year high of $21.32. The company has a 50-day moving average of $15.65 and a 200 day moving average of $17.06. The firm has a market cap of $1.80 billion, a PE ratio of 4.07 and a beta of 0.28.

Fidelis Insurance (NYSE:FIHL) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of $0.93 by ($1.98). The business had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $661.52 million. Fidelis Insurance had a return on equity of 15.27% and a net margin of 20.17%. As a group, research analysts anticipate that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current fiscal year.

Fidelis Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 12th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Wednesday, March 12th. Fidelis Insurance’s payout ratio is 42.55%.

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.