Prospector Partners LLC Cuts Stock Position in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Prospector Partners LLC cut its stake in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 20.0% in the third quarter, HoldingsChannel.com reports. The fund owned 461,947 shares of the company’s stock after selling 115,681 shares during the period. Prospector Partners LLC’s holdings in Fidelis Insurance were worth $8,343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FIHL. Cambridge Trust Co. purchased a new stake in shares of Fidelis Insurance during the first quarter worth about $58,000. California State Teachers Retirement System boosted its holdings in Fidelis Insurance by 144.4% in the 1st quarter. California State Teachers Retirement System now owns 6,103 shares of the company’s stock worth $119,000 after buying an additional 3,606 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Fidelis Insurance in the 2nd quarter worth about $140,000. ProShare Advisors LLC purchased a new stake in Fidelis Insurance during the 1st quarter worth approximately $212,000. Finally, Summit Global Investments acquired a new position in shares of Fidelis Insurance during the third quarter valued at approximately $238,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Fidelis Insurance Price Performance

NYSE:FIHL opened at $20.58 on Tuesday. The company has a market capitalization of $2.43 billion, a P/E ratio of 5.20 and a beta of -0.01. Fidelis Insurance Holdings Limited has a 52 week low of $11.55 and a 52 week high of $21.32. The stock’s fifty day moving average is $18.27 and its two-hundred day moving average is $17.55. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, November 29th. Fidelis Insurance’s dividend payout ratio is presently 10.10%.

Analyst Ratings Changes

A number of analysts have recently issued reports on FIHL shares. Barclays began coverage on Fidelis Insurance in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $21.00 price target on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Fidelis Insurance from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. The Goldman Sachs Group initiated coverage on shares of Fidelis Insurance in a research note on Tuesday, September 17th. They set a “neutral” rating and a $18.50 price objective for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 price target on shares of Fidelis Insurance in a report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.69.

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.