Renaissance Group LLC Sells 4,848 Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL)

Renaissance Group LLC lessened its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 3.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 130,950 shares of the company’s stock after selling 4,848 shares during the period. Renaissance Group LLC’s holdings in Fidelis Insurance were worth $2,374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FIHL. R Squared Ltd bought a new position in shares of Fidelis Insurance during the fourth quarter worth about $26,000. Venturi Wealth Management LLC boosted its position in 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 acquiring an additional 5,831 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Fidelis Insurance during the 3rd quarter worth approximately $195,000. Fox Run Management L.L.C. acquired a new stake in shares of Fidelis Insurance in the fourth quarter valued at approximately $235,000. Finally, New York State Common Retirement Fund lifted its position in shares of Fidelis Insurance by 22.4% in the fourth quarter. New York State Common Retirement Fund now owns 15,311 shares of the company’s stock worth $278,000 after purchasing an additional 2,800 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Fidelis Insurance Stock Performance

FIHL opened at $15.07 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. Fidelis Insurance Holdings Limited has a 12-month low of $14.17 and a 12-month high of $21.32. The business has a 50 day moving average of $15.70 and a 200-day moving average of $17.30. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 3.80 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 (EPS) for the quarter, missing the consensus estimate of $0.93 by ($1.98). The business had revenue of $685.90 million for the quarter, compared to analyst estimates of $661.52 million. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. On average, equities research analysts expect that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current year.

Fidelis Insurance Announces Dividend

The company also recently announced 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 2.66%. The ex-dividend date of this dividend was Wednesday, March 12th. Fidelis Insurance’s payout ratio is 42.55%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FIHL. UBS Group lifted their price target on shares of Fidelis Insurance from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, March 7th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $16.00 target price (down previously from $21.00) on shares of Fidelis Insurance in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on Fidelis Insurance from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays lowered their price target on Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods cut their price objective on Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.29.

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.