Dark Forest Capital Management LP Acquires Shares of 34,729 Fidelis Insurance Holdings Limited (NYSE:FIHL)

Dark Forest Capital Management LP acquired a new stake in Fidelis Insurance Holdings Limited (NYSE:FIHL) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 34,729 shares of the company’s stock, valued at approximately $566,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Marshall Wace LLP grew its stake in shares of Fidelis Insurance by 836.3% in the second quarter. Marshall Wace LLP now owns 154,663 shares of the company’s stock valued at $2,523,000 after acquiring an additional 138,144 shares in the last quarter. Interval Partners LP grew its stake in shares of Fidelis Insurance by 75.6% in the second quarter. Interval Partners LP now owns 248,116 shares of the company’s stock valued at $4,047,000 after acquiring an additional 106,845 shares in the last quarter. Prospector Partners LLC grew its stake in shares of Fidelis Insurance by 0.6% in the second quarter. Prospector Partners LLC now owns 577,628 shares of the company’s stock valued at $9,421,000 after acquiring an additional 3,710 shares in the last quarter. Sei Investments Co. grew its stake in shares of Fidelis Insurance by 35.6% in the second quarter. Sei Investments Co. now owns 276,177 shares of the company’s stock valued at $4,504,000 after acquiring an additional 72,446 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Fidelis Insurance by 78.6% in the second quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company’s stock valued at $17,593,000 after acquiring an additional 474,714 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. The Goldman Sachs Group started coverage on shares of Fidelis Insurance in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $18.50 price target on the stock. JMP Securities reiterated a “market outperform” rating and set a $24.00 price objective on shares of Fidelis Insurance in a research note on Friday, August 16th. Evercore ISI started coverage on shares of Fidelis Insurance in a research note on Wednesday, July 17th. They set an “inline” rating and a $19.00 price objective on the stock. Barclays started coverage on shares of Fidelis Insurance in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $21.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Fidelis Insurance from $18.50 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $19.94.

Fidelis Insurance Stock Down 1.6 %

FIHL stock opened at $18.22 on Friday. The stock has a market capitalization of $2.15 billion, a P/E ratio of 4.42 and a beta of -0.10. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. Fidelis Insurance Holdings Limited has a 12 month low of $11.55 and a 12 month high of $20.53. The firm has a 50-day moving average price of $17.84 and a 200-day moving average price of $17.76.

Fidelis Insurance (NYSE:FIHL) last posted its earnings results on Wednesday, August 14th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.15). The company had revenue of $547.10 million during the quarter, compared to the consensus estimate of $582.19 million. Fidelis Insurance had a return on equity of 15.67% and a net margin of 20.96%. As a group, equities research analysts anticipate that Fidelis Insurance Holdings Limited will post 2.94 EPS for the current fiscal year.

Fidelis Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.40 dividend on an annualized basis and a yield of 2.20%. Fidelis Insurance’s dividend payout ratio (DPR) is presently 9.71%.

Fidelis Insurance Company Profile

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.