Fidelis Insurance (NYSE:FIHL) Reaches New 1-Year High – Here’s What Happened

Fidelis Insurance Holdings Limited (NYSE:FIHL) shares reached a new 52-week high during trading on Friday . The stock traded as high as $20.61 and last traded at $20.6350, with a volume of 40213 shares trading hands. The stock had previously closed at $20.20.

Wall Street Analyst Weigh In

FIHL has been the topic of several research reports. The Goldman Sachs Group set a $17.50 price objective on shares of Fidelis Insurance in a research report on Saturday, January 17th. Weiss Ratings raised shares of Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, March 6th. Barclays boosted their price objective on shares of Fidelis Insurance from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Fidelis Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Finally, UBS Group boosted their price objective on shares of Fidelis Insurance from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.64.

Fidelis Insurance Stock Up 3.9%

The firm’s 50-day simple moving average is $19.35 and its 200 day simple moving average is $18.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market capitalization of $2.03 billion, a P/E ratio of 9.49 and a beta of 0.23.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings results on Thursday, February 26th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.96 by $0.13. Fidelis Insurance had a net margin of 9.02% and a return on equity of 8.62%. The firm had revenue of $600.90 million for the quarter, compared to analysts’ expectations of $756.14 million. As a group, research analysts expect that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current year.

Fidelis Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 16th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.60 annualized dividend and a yield of 2.9%. Fidelis Insurance’s payout ratio is 27.15%.

Fidelis Insurance announced that its Board of Directors has approved a stock repurchase program on Friday, February 20th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 18% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Fidelis Insurance

Institutional investors and hedge funds have recently modified their holdings of the company. Stephens Inc. AR bought a new stake in shares of Fidelis Insurance in the 3rd quarter valued at about $3,311,000. Doma Perpetual Capital Management LLC raised its holdings in shares of Fidelis Insurance by 36.7% in the 3rd quarter. Doma Perpetual Capital Management LLC now owns 636,912 shares of the company’s stock valued at $11,560,000 after purchasing an additional 170,827 shares during the period. Royce & Associates LP raised its holdings in shares of Fidelis Insurance by 2,333.5% in the 3rd quarter. Royce & Associates LP now owns 1,591,259 shares of the company’s stock valued at $28,881,000 after purchasing an additional 1,525,868 shares during the period. Cooperman Leon G raised its holdings in shares of Fidelis Insurance by 14.8% in the 3rd quarter. Cooperman Leon G now owns 6,662,469 shares of the company’s stock valued at $120,924,000 after purchasing an additional 856,413 shares during the period. Finally, NFC Investments LLC raised its holdings in shares of Fidelis Insurance by 74.6% in the 3rd quarter. NFC Investments LLC now owns 536,379 shares of the company’s stock valued at $9,735,000 after purchasing an additional 229,229 shares during the period. 81.99% of the stock is owned by institutional investors.

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.