JPMorgan Chase & Co. Sells 443,379 Shares of Fidelis Insurance Holdings Limited $FIHL

JPMorgan Chase & Co. cut its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 47.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. North Capital Inc. purchased a new position in shares of Fidelis Insurance during the second quarter valued at $33,000. Ameritas Investment Partners Inc. grew its holdings in Fidelis Insurance by 15.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,088 shares of the company’s stock worth $101,000 after acquiring an additional 810 shares in the last quarter. 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. EMC Capital Management purchased a new stake in shares of Fidelis Insurance in the 2nd quarter worth approximately $131,000. Finally, First Trust Advisors LP purchased a new stake in shares of Fidelis Insurance in the 2nd quarter worth approximately $169,000. Institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Stock Performance

NYSE FIHL opened at $18.62 on Friday. The firm has a market capitalization of $2.06 billion, a P/E ratio of 8.43 and a beta of 0.25. The stock has a 50-day simple moving average of $19.23 and a two-hundred day simple moving average of $18.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 0.74. Fidelis Insurance Holdings Limited has a fifty-two week low of $14.39 and a fifty-two week high of $20.50.

Fidelis Insurance (NYSE:FIHL) last posted its earnings results on Wednesday, February 25th. The company reported $1.09 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 firm had revenue of $600.90 million for the quarter, compared to analyst estimates of $756.14 million. On average, equities analysts forecast that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current year.

Fidelis Insurance declared that its Board of Directors has authorized a share repurchase program on Friday, February 20th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to buy up to 18% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Fidelis Insurance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 16th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.60 dividend on an annualized basis and a yield of 3.2%. Fidelis Insurance’s dividend payout ratio is 27.15%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen lowered Fidelis Insurance from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. The Goldman Sachs Group set a $17.50 target price on shares of Fidelis Insurance in a research note on Saturday, January 17th. Evercore set a $21.00 target price on Fidelis Insurance in a research report on Wednesday, January 7th. UBS Group boosted their price target on Fidelis Insurance from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $21.00 price objective (up from $19.00) on shares of Fidelis Insurance in a research note on Wednesday, January 7th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.21.

About Fidelis Insurance

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.