Principal Financial Group Inc. Raises Holdings in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Principal Financial Group Inc. grew its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 8.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 76,356 shares of the company’s stock after purchasing an additional 6,207 shares during the quarter. Principal Financial Group Inc. owned approximately 0.07% of Fidelis Insurance worth $1,237,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Kendall Capital Management grew its holdings in shares of Fidelis Insurance by 22.1% during the first quarter. Kendall Capital Management now owns 55,515 shares of the company’s stock worth $899,000 after buying an additional 10,055 shares during the last quarter. Joel Isaacson & Co. LLC purchased a new position in shares of Fidelis Insurance during the first quarter worth about $315,000. Garde Capital Inc. purchased a new position in shares of Fidelis Insurance during the first quarter worth about $62,000. SG Americas Securities LLC grew its holdings in shares of Fidelis Insurance by 342.2% during the first quarter. SG Americas Securities LLC now owns 73,471 shares of the company’s stock worth $1,190,000 after buying an additional 56,857 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Fidelis Insurance by 29.8% during the first quarter. Wedge Capital Management L L P NC now owns 72,123 shares of the company’s stock worth $1,168,000 after buying an additional 16,543 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FIHL. Citigroup reissued an “outperform” rating on shares of Fidelis Insurance in a research note on Friday, May 16th. Keefe, Bruyette & Woods boosted their price target on Fidelis Insurance from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 1st. JMP Securities upped their target price on Fidelis Insurance from $24.00 to $27.00 and gave the company a “market outperform” rating in a research note on Friday, May 16th. Barclays upped their target price on Fidelis Insurance from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. reduced their target price on Fidelis Insurance from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.67.

Fidelis Insurance Stock Performance

NYSE:FIHL opened at $15.99 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a 50-day moving average of $16.61 and a two-hundred day moving average of $16.25. The stock has a market cap of $1.77 billion, a P/E ratio of -122.99 and a beta of 0.27. Fidelis Insurance Holdings Limited has a 1-year low of $14.17 and a 1-year high of $21.32.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.02. The business had revenue of $658.40 million for the quarter, compared to analysts’ expectations of $578.57 million. Fidelis Insurance had a negative net margin of 0.41% and a positive return on equity of 0.20%. On average, research analysts expect that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 16th were paid a $0.10 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.40 annualized dividend and a dividend yield of 2.50%. Fidelis Insurance’s payout ratio is currently -307.69%.

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.