Jacobs Levy Equity Management Inc. Grows Position in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Jacobs Levy Equity Management Inc. boosted its stake in Fidelis Insurance Holdings Limited (NYSE:FIHL) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 264,672 shares of the company’s stock after purchasing an additional 16,684 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.22% of Fidelis Insurance worth $5,156,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FIHL. EntryPoint Capital LLC bought a new position in Fidelis Insurance in the first quarter valued at about $63,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Fidelis Insurance by 297.6% in the first quarter. Ameritas Investment Partners Inc. now owns 6,043 shares of the company’s stock worth $118,000 after buying an additional 4,523 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Fidelis Insurance by 2,976.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,675 shares of the company’s stock valued at $110,000 after buying an additional 8,393 shares during the period. ProShare Advisors LLC purchased a new stake in Fidelis Insurance during the first quarter valued at approximately $212,000. Finally, Strategic Advocates LLC bought a new position in Fidelis Insurance in the fourth quarter worth approximately $180,000. 81.99% of the stock is owned by institutional investors.

Fidelis Insurance Price Performance

FIHL traded up $0.35 on Wednesday, hitting $17.82. 64,368 shares of the company’s stock traded hands, compared to its average volume of 612,970. The company’s 50 day simple moving average is $16.51 and its 200-day simple moving average is $16.60. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.18. Fidelis Insurance Holdings Limited has a one year low of $11.55 and a one year high of $20.53. The firm has a market cap of $2.10 billion and a price-to-earnings ratio of 4.24.

Fidelis Insurance (NYSE:FIHL) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). The company had revenue of $520.00 million for the quarter, compared to the consensus estimate of $585.88 million. Fidelis Insurance had a net margin of 23.31% and a return on equity of 17.97%. As a group, research analysts anticipate that Fidelis Insurance Holdings Limited will post 3.07 EPS for the current year.

Fidelis Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Friday, June 14th. Fidelis Insurance’s payout ratio is 9.71%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FIHL. JPMorgan Chase & Co. boosted their price objective on shares of Fidelis Insurance from $18.50 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Evercore ISI initiated coverage on Fidelis Insurance in a research report on Wednesday, July 17th. They issued an “inline” rating and a $19.00 price target for the company. UBS Group decreased their price objective on Fidelis Insurance from $22.50 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, May 14th. JMP Securities reiterated a “market outperform” rating and set a $24.00 price objective on shares of Fidelis Insurance in a research note on Monday, April 15th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Fidelis Insurance from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.00.

About Fidelis Insurance

Fidelis Insurance Holdings Limited, together with its subsidiaries, provides insurance and reinsurance products 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.