Kendall Capital Management Increases Stake in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Kendall Capital Management raised its holdings in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 128.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 45,460 shares of the company’s stock after acquiring an additional 25,545 shares during the period. Kendall Capital Management’s holdings in Fidelis Insurance were worth $824,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Fidelis Insurance during the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC increased its holdings in Fidelis Insurance by 1,862.9% during the fourth quarter. Venturi Wealth Management LLC now owns 6,144 shares of the company’s stock valued at $111,000 after buying an additional 5,831 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Fidelis Insurance during the third quarter valued at approximately $195,000. Summit Global Investments purchased a new stake in Fidelis Insurance during the third quarter valued at approximately $238,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Fidelis Insurance in the third quarter worth $269,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a “sell” rating and issued a $16.00 price objective (down from $21.00) on shares of Fidelis Insurance in a research note on Wednesday, January 8th. UBS Group increased their price objective on shares of Fidelis Insurance from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Barclays reduced their price objective on shares of Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, February 20th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.57.

Fidelis Insurance Price Performance

FIHL stock opened at $15.04 on Friday. Fidelis Insurance Holdings Limited has a 52 week low of $14.17 and a 52 week high of $21.32. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $16.30 and a two-hundred day simple moving average of $17.71. The firm has a market capitalization of $1.77 billion, a P/E ratio of 3.80 and a beta of 0.62.

Fidelis Insurance (NYSE:FIHL) last announced its earnings results on Tuesday, February 25th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of $0.93 by ($1.98). Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. The firm had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $661.52 million. Analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 12th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Wednesday, March 12th. Fidelis Insurance’s dividend payout ratio is currently 42.55%.

Fidelis Insurance 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.