Voya Investment Management LLC Cuts Stock Position in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Voya Investment Management LLC cut its holdings in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,563 shares of the company’s stock after selling 866 shares during the period. Voya Investment Management LLC’s holdings in Fidelis Insurance were worth $282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Fidelis Insurance during the fourth quarter worth about $26,000. Venturi Wealth Management LLC increased its stake 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 worth $111,000 after purchasing an additional 5,831 shares during the period. Fox Run Management L.L.C. purchased a new stake in Fidelis Insurance during the fourth quarter worth about $235,000. XTX Topco Ltd purchased a new stake in Fidelis Insurance during the fourth quarter worth about $277,000. Finally, New York State Common Retirement Fund increased its stake in Fidelis Insurance by 22.4% during 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 during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. UBS Group boosted their price objective on Fidelis Insurance from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Keefe, Bruyette & Woods lowered their price objective on Fidelis Insurance from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Barclays lowered their price objective on Fidelis Insurance from $18.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Fidelis Insurance from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $19.71.

Fidelis Insurance Stock Performance

Shares of FIHL opened at $17.24 on Tuesday. The stock has a 50 day moving average price of $15.86 and a 200 day moving average price of $17.01. 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 market capitalization of $1.93 billion, a price-to-earnings ratio of 4.35 and a beta of 0.28. Fidelis Insurance Holdings Limited has a 52-week low of $14.17 and a 52-week high of $21.32.

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 analysts’ consensus estimates of $0.93 by ($1.98). The business had revenue of $685.90 million during 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%. Research analysts predict that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current fiscal year.

Fidelis Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, June 16th. Fidelis Insurance’s payout ratio is currently 42.55%.

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.