Wellington Management Group LLP Grows Position in Fidelis Insurance Holdings Limited (NYSE:FIHL)

Wellington Management Group LLP grew its position in shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) by 76.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,078,157 shares of the company’s stock after purchasing an additional 1,332,896 shares during the quarter. Wellington Management Group LLP owned approximately 2.61% of Fidelis Insurance worth $55,592,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. ClearAlpha Technologies LP purchased a new position in Fidelis Insurance in the 3rd quarter valued at about $298,000. Martingale Asset Management L P boosted its stake in shares of Fidelis Insurance by 6.7% in the third quarter. Martingale Asset Management L P now owns 127,593 shares of the company’s stock worth $2,304,000 after acquiring an additional 7,997 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Fidelis Insurance during the third quarter worth approximately $2,068,000. The Manufacturers Life Insurance Company raised its stake in Fidelis Insurance by 4.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 18,097 shares of the company’s stock valued at $327,000 after purchasing an additional 770 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in Fidelis Insurance by 12.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 655,565 shares of the company’s stock valued at $11,839,000 after purchasing an additional 74,445 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Fidelis Insurance Stock Up 0.9 %

Shares of Fidelis Insurance stock opened at $19.52 on Thursday. Fidelis Insurance Holdings Limited has a 52-week low of $11.80 and a 52-week high of $21.32. The company has a 50 day moving average of $18.74 and a 200 day moving average of $17.75. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.30 billion, a P/E ratio of 4.93 and a beta of 0.29.

Fidelis Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.05%. Fidelis Insurance’s payout ratio is currently 10.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in 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 target price on the stock. Barclays initiated coverage on Fidelis Insurance in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $21.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 target price on shares of Fidelis Insurance in a research report on Friday, August 16th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Fidelis Insurance from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fidelis Insurance has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Fidelis Insurance 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.