Voya Investment Management LLC Cuts Holdings in Fidelis Insurance Holdings Limited $FIHL

Voya Investment Management LLC cut its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 11.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,752 shares of the company’s stock after selling 1,811 shares during the quarter. Voya Investment Management LLC’s holdings in Fidelis Insurance were worth $223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FIHL. Garde Capital Inc. purchased a new position in Fidelis Insurance during the first quarter worth about $62,000. GAMMA Investing LLC boosted its holdings in Fidelis Insurance by 1,267.3% during the first quarter. GAMMA Investing LLC now owns 4,471 shares of the company’s stock worth $72,000 after purchasing an additional 4,144 shares during the last quarter. Fiduciary Family Office LLC purchased a new position in Fidelis Insurance during the first quarter worth about $162,000. EntryPoint Capital LLC purchased a new position in Fidelis Insurance during the first quarter worth about $181,000. Finally, Jump Financial LLC purchased a new position in Fidelis Insurance during the first quarter worth about $193,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Fidelis Insurance Stock Performance

Fidelis Insurance stock opened at $17.55 on Tuesday. The firm’s 50 day simple moving average is $16.85 and its 200 day simple moving average is $16.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1.94 billion, a PE ratio of -42.81 and a beta of 0.26. 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 posted its earnings results on Wednesday, August 13th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.24. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $604.62 million. Fidelis Insurance had a negative net margin of 1.70% and a negative return on equity of 1.81%. As a group, analysts expect that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Tuesday, September 16th were issued a dividend of $0.15 per share. This is a boost from Fidelis Insurance’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a yield of 3.4%. Fidelis Insurance’s payout ratio is currently -146.34%.

Analysts Set New Price Targets

Several research analysts recently weighed in on FIHL shares. Barclays boosted their price target on shares of Fidelis Insurance from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. Keefe, Bruyette & Woods boosted their target price on shares of Fidelis Insurance from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, July 1st. Finally, Zacks Research upgraded shares of Fidelis Insurance from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 11th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.67.

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.