Fidelis Insurance’s (FIHL) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Fidelis Insurance (NYSE:FIHL) in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a $24.00 price target on the stock.

FIHL has been the subject of a number of other research reports. UBS Group cut their target price on shares of Fidelis Insurance from $22.50 to $22.00 and set a buy rating for the company in a research report on Tuesday, May 14th. JPMorgan Chase & Co. raised their target price on shares of Fidelis Insurance from $18.50 to $20.00 and gave the company a neutral rating in a research note on Thursday, July 11th. Finally, Evercore ISI began coverage on shares of Fidelis Insurance in a research note on Wednesday, July 17th. They issued an inline rating and a $19.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $20.00.

Fidelis Insurance Stock Up 3.5 %

FIHL stock opened at $18.60 on Friday. Fidelis Insurance has a 12-month low of $11.55 and a 12-month high of $20.53. 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 company has a market cap of $2.19 billion, a price-to-earnings ratio of 4.51 and a beta of -0.10. The company has a 50 day moving average of $16.84 and a two-hundred day moving average of $17.02.

Fidelis Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.10 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.40 dividend on an annualized basis and a yield of 2.15%. Fidelis Insurance’s payout ratio is presently 9.71%.

Institutional Trading of Fidelis Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Trust Co. acquired a new stake in Fidelis Insurance in the 1st quarter worth $58,000. EntryPoint Capital LLC acquired a new stake in Fidelis Insurance in the 1st quarter worth $63,000. Ameritas Investment Partners Inc. grew its position in Fidelis Insurance by 297.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,043 shares of the company’s stock worth $118,000 after purchasing an additional 4,523 shares during the last quarter. California State Teachers Retirement System grew its position in Fidelis Insurance by 144.4% in the 1st quarter. California State Teachers Retirement System now owns 6,103 shares of the company’s stock worth $119,000 after purchasing an additional 3,606 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Fidelis Insurance in the 2nd quarter worth $140,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.