Fidelis Insurance Holdings Limited (NYSE:FIHL) is Travelers Companies Inc.’s Largest Position

Travelers Companies Inc. decreased its position in Fidelis Insurance Holdings Limited (NYSE:FIHL) by 14.7% in the second quarter, HoldingsChannel.com reports. The fund owned 7,202,354 shares of the company’s stock after selling 1,243,102 shares during the period. Fidelis Insurance comprises approximately 100.0% of Travelers Companies Inc.’s investment portfolio, making the stock its biggest holding. Travelers Companies Inc. owned 0.06% of Fidelis Insurance worth $117,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FIHL. Cambridge Trust Co. purchased a new position in shares of Fidelis Insurance during the 1st quarter valued at about $58,000. EntryPoint Capital LLC purchased a new position in shares of Fidelis Insurance during the 1st quarter valued at about $63,000. Ameritas Investment Partners Inc. increased its stake in shares of Fidelis Insurance by 297.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,043 shares of the company’s stock valued at $118,000 after purchasing an additional 4,523 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Fidelis Insurance by 144.4% in the 1st quarter. California State Teachers Retirement System now owns 6,103 shares of the company’s stock valued at $119,000 after purchasing an additional 3,606 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Fidelis Insurance in the 2nd quarter valued at about $140,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FIHL. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $24.00 price target on shares of Fidelis Insurance in a research note on Friday, August 16th. JMP Securities reiterated a “market outperform” rating and issued a $24.00 price objective on shares of Fidelis Insurance in a report on Friday, August 16th. Barclays assumed coverage on Fidelis Insurance in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $21.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Fidelis Insurance from $18.50 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Finally, Evercore ISI initiated coverage on Fidelis Insurance in a report on Wednesday, July 17th. They set an “inline” rating and a $19.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.13.

Fidelis Insurance Trading Up 1.3 %

Shares of Fidelis Insurance stock opened at $17.60 on Monday. Fidelis Insurance Holdings Limited has a 1-year low of $11.55 and a 1-year high of $20.53. The stock has a market cap of $2.08 billion, a P/E ratio of 4.27 and a beta of -0.10. The stock’s 50 day simple moving average is $17.67 and its 200-day simple moving average is $17.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65.

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

Fidelis Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Monday, September 16th. Fidelis Insurance’s payout ratio is 9.71%.

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.