Fidelis Insurance (NYSE:FIHL) Price Target Raised to $20.00

Fidelis Insurance (NYSE:FIHL) had its target price upped by Evercore ISI from $19.00 to $20.00 in a report issued on Thursday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Other analysts also recently issued research reports about the company. Barclays increased their price objective on Fidelis Insurance from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Zacks Research raised shares of Fidelis Insurance from a “strong sell” rating to a “hold” rating in a report on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fidelis Insurance in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Fidelis Insurance currently has a consensus rating of “Hold” and an average price target of $21.14.

Fidelis Insurance Price Performance

FIHL stock opened at $18.37 on Thursday. The firm has a market cap of $2.03 billion, a P/E ratio of -367.38 and a beta of 0.27. The firm’s fifty day moving average is $18.03 and its 200 day moving average is $17.10. Fidelis Insurance has a 52 week low of $14.17 and a 52 week high of $20.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 0.71.

Fidelis Insurance (NYSE:FIHL) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.02. Fidelis Insurance had a negative return on equity of 0.95% and a negative net margin of 0.56%.The firm had revenue of $797.50 million for the quarter, compared to analysts’ expectations of $676.79 million. Research analysts predict that Fidelis Insurance will post 3.12 earnings per share for the current year.

Fidelis Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 10th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $0.60 annualized dividend and a dividend yield of 3.3%. Fidelis Insurance’s dividend payout ratio is currently -1,200.00%.

Hedge Funds Weigh In On Fidelis Insurance

A number of institutional investors have recently added to or reduced their stakes in FIHL. Principal Financial Group Inc. lifted its position in Fidelis Insurance by 8.8% during the first quarter. Principal Financial Group Inc. now owns 76,356 shares of the company’s stock valued at $1,237,000 after buying an additional 6,207 shares during the period. Foundry Partners LLC lifted its position in Fidelis Insurance by 1.4% during the 1st quarter. Foundry Partners LLC now owns 395,946 shares of the company’s stock valued at $6,414,000 after acquiring an additional 5,356 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Fidelis Insurance during the first quarter worth about $425,000. Knights of Columbus Asset Advisors LLC grew its holdings in Fidelis Insurance by 2.7% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 74,704 shares of the company’s stock worth $1,210,000 after purchasing an additional 1,991 shares during the period. Finally, XTX Topco Ltd increased its position in Fidelis Insurance by 34.0% during the 1st quarter. XTX Topco Ltd now owns 20,469 shares of the company’s stock valued at $332,000 after buying an additional 5,193 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

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.