Fidelis Insurance (NYSE:FIHL) Issues Earnings Results, Beats Expectations By $0.02 EPS

Fidelis Insurance (NYSE:FIHL) announced its earnings results on Wednesday. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.02, Zacks reports. The firm had revenue of $797.50 million during the quarter, compared to the consensus estimate of $676.79 million. Fidelis Insurance had a negative net margin of 0.56% and a negative return on equity of 0.95%.

Fidelis Insurance Stock Down 2.5%

NYSE:FIHL opened at $18.66 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average of $18.01 and a 200-day moving average of $17.08. The firm has a market capitalization of $2.06 billion, a PE ratio of -373.10 and a beta of 0.27. Fidelis Insurance has a 52 week low of $14.17 and a 52 week high of $20.85.

Fidelis Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Wednesday, December 10th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.60 annualized dividend and a yield of 3.2%. Fidelis Insurance’s dividend payout ratio is -146.34%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods decreased their price target on Fidelis Insurance from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday. Evercore ISI increased their price objective on shares of Fidelis Insurance from $19.00 to $20.00 and gave the stock an “in-line” rating in a report on Thursday. Barclays raised their target price on shares of Fidelis Insurance from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fidelis Insurance in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Fidelis Insurance from a “strong sell” rating to a “hold” rating in a report on Thursday, September 11th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.14.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its stake in Fidelis Insurance by 58.9% in the second quarter. Tower Research Capital LLC TRC now owns 7,786 shares of the company’s stock valued at $129,000 after buying an additional 2,885 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Fidelis Insurance in the 2nd quarter worth about $169,000. Quadrant Capital Group LLC bought a new stake in Fidelis Insurance in the 3rd quarter valued at about $193,000. WINTON GROUP Ltd acquired a new position in Fidelis Insurance during the 2nd quarter valued at about $217,000. Finally, Royal Bank of Canada boosted its stake in Fidelis Insurance by 62.1% during the 1st quarter. Royal Bank of Canada now owns 15,988 shares of the company’s stock valued at $258,000 after purchasing an additional 6,124 shares during the period. 81.99% of the stock is currently owned by institutional investors.

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.