JPMorgan Chase & Co. Has $8.97 Million Position in Fidelis Insurance Holdings Limited $FIHL

JPMorgan Chase & Co. lessened its stake in Fidelis Insurance Holdings Limited (NYSE:FIHL) by 47.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 494,148 shares of the company’s stock after selling 443,379 shares during the period. JPMorgan Chase & Co.’s holdings in Fidelis Insurance were worth $8,969,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Focus Partners Wealth acquired a new position in shares of Fidelis Insurance in the third quarter worth approximately $77,000. Ameritas Investment Partners Inc. increased its position in Fidelis Insurance by 15.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,088 shares of the company’s stock valued at $101,000 after purchasing an additional 810 shares during the period. Tower Research Capital LLC TRC increased its position in Fidelis Insurance by 58.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,786 shares of the company’s stock valued at $129,000 after purchasing an additional 2,885 shares during the period. First Trust Advisors LP bought a new position in Fidelis Insurance during the 2nd quarter worth approximately $169,000. Finally, Quadrant Capital Group LLC bought a new position in Fidelis Insurance during the 3rd quarter worth approximately $193,000. 81.99% of the stock is currently owned by institutional investors.

Fidelis Insurance Stock Performance

Shares of Fidelis Insurance stock opened at $18.78 on Monday. The business has a 50-day simple moving average of $19.15 and a 200 day simple moving average of $18.75. Fidelis Insurance Holdings Limited has a one year low of $14.67 and a one year high of $20.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 8.50 and a beta of 0.25.

Fidelis Insurance (NYSE:FIHL) last announced its quarterly earnings results on Thursday, February 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.13. Fidelis Insurance had a return on equity of 8.62% and a net margin of 9.02%.The business had revenue of $600.90 million for the quarter, compared to analyst estimates of $756.14 million. On average, research analysts anticipate that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance declared that its board has authorized a stock buyback program on Friday, February 20th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 18% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Fidelis Insurance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 16th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Monday, March 16th. Fidelis Insurance’s dividend payout ratio (DPR) is currently 27.15%.

Wall Street Analysts Forecast Growth

FIHL has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Fidelis Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, February 23rd. The Goldman Sachs Group set a $17.50 price target on shares of Fidelis Insurance in a research report on Saturday, January 17th. Weiss Ratings raised Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, March 6th. Wall Street Zen lowered Fidelis Insurance from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $21.00 target price (up from $19.00) on shares of Fidelis Insurance in a research note on Wednesday, January 7th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.36.

Fidelis Insurance Profile

Fidelis Insurance Holdings Ltd is a Bermuda‐incorporated specialty insurer and reinsurer that underwrites a broad range of liability and property risks. Founded in 2015, the company completed its initial public offering on the New York Stock Exchange in 2016 under the ticker FIHL. Fidelis focuses on providing tailored solutions for complex risks that traditional insurers may find difficult to accommodate, leveraging data analytics and underwriting expertise to structure policies across diverse industry segments.

The company’s product portfolio spans casualty lines—including general liability, excess and umbrella, professional indemnity, and management liability—alongside property, marine, energy and specialty programs.