Monashee Investment Management LLC bought a new position in Fidelis Insurance Holdings Limited (NYSE:FIHL – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 200,000 shares of the company’s stock, valued at approximately $2,730,000. Fidelis Insurance comprises approximately 0.7% of Monashee Investment Management LLC’s holdings, making the stock its 29th largest holding. Monashee Investment Management LLC owned approximately 0.17% of Fidelis Insurance as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in FIHL. Strs Ohio bought a new stake in Fidelis Insurance during the second quarter valued at approximately $795,000. Boston Partners purchased a new position in shares of Fidelis Insurance during the 2nd quarter valued at $1,836,000. Barclays PLC bought a new position in Fidelis Insurance in the 2nd quarter worth $1,965,000. Russell Investments Group Ltd. purchased a new stake in shares of Fidelis Insurance during the second quarter worth about $5,080,000. Finally, Prospector Partners LLC bought a new stake in shares of Fidelis Insurance during the second quarter valued at approximately $6,142,000. 39.55% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Fidelis Insurance from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, October 6th. Barclays initiated coverage on shares of Fidelis Insurance in a research note on Monday, July 24th. They issued an “equal weight” rating and a $15.00 price objective for the company. UBS Group assumed coverage on shares of Fidelis Insurance in a report on Monday, July 24th. They issued a “buy” rating and a $18.00 price target for the company. Citigroup assumed coverage on Fidelis Insurance in a research note on Monday, July 24th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, BMO Capital Markets boosted their target price on Fidelis Insurance from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Wednesday, August 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.31.
Fidelis Insurance Stock Up 2.8 %
FIHL stock traded up $0.39 during midday trading on Monday, reaching $14.33. The company’s stock had a trading volume of 127,903 shares, compared to its average volume of 308,403. Fidelis Insurance Holdings Limited has a 1 year low of $12.60 and a 1 year high of $15.30. The company’s fifty day moving average price is $14.34.
Fidelis Insurance (NYSE:FIHL – Get Free Report) last announced its quarterly earnings results on Tuesday, August 22nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. The firm had revenue of $453.20 million for the quarter, compared to analysts’ expectations of $459.00 million. Research analysts expect that Fidelis Insurance Holdings Limited will post 3.15 EPS for the current year.
About Fidelis Insurance
Fidelis Insurance Holdings Limited, together with its subsidiaries, provides insurance and reinsurance products in Bermuda, 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.
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