Fidelis Insurance Holdings Limited (NYSE:FIHL) Receives $18.94 Consensus Price Target from Analysts

Fidelis Insurance Holdings Limited (NYSE:FIHL) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $18.94.

Several analysts have recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $24.00 price objective on shares of Fidelis Insurance in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on Fidelis Insurance from $17.00 to $17.50 and gave the company a “neutral” rating in a research note on Monday, April 8th. UBS Group reduced their price objective on Fidelis Insurance from $22.50 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, May 14th. Finally, Keefe, Bruyette & Woods increased their price objective on Fidelis Insurance from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Graypoint LLC purchased a new position in shares of Fidelis Insurance in the 4th quarter valued at $1,776,000. Russell Investments Group Ltd. grew its position in Fidelis Insurance by 20.4% during the 4th quarter. Russell Investments Group Ltd. now owns 815,174 shares of the company’s stock worth $10,328,000 after purchasing an additional 138,295 shares during the last quarter. Jump Financial LLC grew its position in Fidelis Insurance by 94.6% during the 4th quarter. Jump Financial LLC now owns 50,014 shares of the company’s stock worth $634,000 after purchasing an additional 24,319 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Fidelis Insurance by 0.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 15,360,508 shares of the company’s stock worth $194,618,000 after purchasing an additional 131,657 shares during the last quarter. Finally, Pine Brook Road Advisors L.P. purchased a new position in Fidelis Insurance during the 4th quarter worth $107,116,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Fidelis Insurance Stock Up 2.4 %

NYSE:FIHL opened at $16.72 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $16.81 and its two-hundred day moving average is $16.08. Fidelis Insurance has a 52 week low of $11.55 and a 52 week high of $20.53. The stock has a market capitalization of $1.97 billion and a price-to-earnings ratio of 4.06.

Fidelis Insurance (NYSE:FIHL) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). Fidelis Insurance had a return on equity of 17.97% and a net margin of 23.31%. The firm had revenue of $520.00 million for the quarter, compared to analyst estimates of $585.88 million. Research analysts anticipate that Fidelis Insurance will post 3.11 EPS for the current year.

Fidelis Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Friday, June 14th. Fidelis Insurance’s payout ratio is 9.71%.

About Fidelis Insurance

Fidelis Insurance Holdings Limited, together with its subsidiaries, provides insurance and reinsurance products 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.