Nuveen Asset Management LLC Cuts Stake in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Nuveen Asset Management LLC trimmed its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 25.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 820,886 shares of the company’s stock after selling 277,169 shares during the quarter. Nuveen Asset Management LLC owned about 0.70% of Fidelis Insurance worth $14,883,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FIHL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Fidelis Insurance by 2.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,177 shares of the company’s stock valued at $529,000 after acquiring an additional 661 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Fidelis Insurance during the 4th quarter valued at about $26,000. Sterling Capital Management LLC boosted its holdings in shares of Fidelis Insurance by 6.5% during the 4th quarter. Sterling Capital Management LLC now owns 23,889 shares of the company’s stock valued at $433,000 after acquiring an additional 1,448 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Fidelis Insurance by 1.6% during the 4th quarter. Invesco Ltd. now owns 91,317 shares of the company’s stock valued at $1,656,000 after acquiring an additional 1,475 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Fidelis Insurance by 3.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 64,379 shares of the company’s stock valued at $1,167,000 after acquiring an additional 1,967 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FIHL has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of Fidelis Insurance from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. JMP Securities raised their price target on shares of Fidelis Insurance from $24.00 to $27.00 and gave the company a “market outperform” rating in a report on Friday, May 16th. Barclays dropped 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. JPMorgan Chase & Co. dropped their price objective on shares of Fidelis Insurance from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Citigroup reissued an “outperform” rating on shares of Fidelis Insurance in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.14.

Fidelis Insurance Stock Performance

FIHL opened at $16.42 on Monday. 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 market cap of $1.82 billion, a price-to-earnings ratio of 4.15 and a beta of 0.28. The company’s 50 day moving average is $16.31 and its 200 day moving average is $16.99. Fidelis Insurance Holdings Limited has a 12-month low of $14.17 and a 12-month high of $21.32.

Fidelis Insurance (NYSE:FIHL) last released its earnings results on Wednesday, May 14th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.02. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. The company had revenue of $658.40 million for the quarter, compared to analysts’ expectations of $578.57 million. On average, equities research analysts predict that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current year.

Fidelis Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Monday, June 16th. Fidelis Insurance’s payout ratio is -307.69%.

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.