Brokerages Set Fidelis Insurance Holdings Limited (NYSE:FIHL) Target Price at $21.50

Fidelis Insurance Holdings Limited (NYSE:FIHL) has earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $21.50.

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group started coverage on Fidelis Insurance in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $18.50 price target for the company. Keefe, Bruyette & Woods increased their target price on Fidelis Insurance from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, Barclays initiated coverage on Fidelis Insurance in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $21.00 price target on the stock.

Fidelis Insurance Stock Up 2.3 %

Shares of FIHL stock opened at $18.13 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68. Fidelis Insurance has a one year low of $11.80 and a one year high of $21.32. The company’s fifty day moving average price is $18.82 and its 200-day moving average price is $17.98. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 4.58 and a beta of 0.29.

Fidelis Insurance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, November 29th. Fidelis Insurance’s payout ratio is presently 10.10%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC bought a new position in Fidelis Insurance during the second quarter valued at $140,000. Y Intercept Hong Kong Ltd purchased a new position in Fidelis Insurance in the third quarter worth about $195,000. Summit Global Investments purchased a new position in Fidelis Insurance in the third quarter worth about $238,000. Caprock Group LLC bought a new stake in Fidelis Insurance during the second quarter worth approximately $265,000. Finally, Intech Investment Management LLC purchased a new stake in Fidelis Insurance during the third quarter valued at approximately $269,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

About Fidelis Insurance

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.