Fidelis Insurance (NYSE:FIHL) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Fidelis Insurance (NYSE:FIHL) in a research note published on Tuesday, MarketBeat.com reports. The brokerage issued a neutral rating and a $18.50 price objective on the stock.

Several other research firms have also recently weighed in on FIHL. JPMorgan Chase & Co. boosted their price target on shares of Fidelis Insurance from $18.50 to $20.00 and gave the stock a neutral rating in a report on Thursday, July 11th. JMP Securities restated a market outperform rating and set a $24.00 price target on shares of Fidelis Insurance in a research note on Friday, August 16th. Evercore ISI started coverage on shares of Fidelis Insurance in a report on Wednesday, July 17th. They set an inline rating and a $19.00 target price on the stock. Barclays started coverage on shares of Fidelis Insurance in a report on Wednesday, September 4th. They issued an equal weight rating and a $21.00 price target on the stock. Finally, Keefe, Bruyette & Woods reissued an outperform rating and issued a $24.00 price target on shares of Fidelis Insurance in a report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $19.94.

Fidelis Insurance Stock Performance

Shares of Fidelis Insurance stock opened at $17.69 on Tuesday. The firm has a market capitalization of $2.09 billion, a P/E ratio of 4.29 and a beta of -0.10. The company’s 50 day moving average price is $17.73 and its two-hundred day moving average price is $17.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. Fidelis Insurance has a fifty-two week low of $11.55 and a fifty-two week high of $20.53.

Fidelis Insurance (NYSE:FIHL) last announced its earnings results on Wednesday, August 14th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.15). Fidelis Insurance had a return on equity of 15.67% and a net margin of 20.96%. The firm had revenue of $547.10 million for the quarter, compared to the consensus estimate of $582.19 million. On average, equities analysts forecast that Fidelis Insurance will post 2.94 earnings per share for the current fiscal year.

Fidelis Insurance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Monday, September 16th. Fidelis Insurance’s dividend payout ratio is currently 9.71%.

Institutional Investors Weigh In On Fidelis Insurance

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new stake in shares of Fidelis Insurance in the second quarter valued at $618,000. Ghisallo Capital Management LLC boosted its holdings in shares of Fidelis Insurance by 1,038.8% in the 2nd quarter. Ghisallo Capital Management LLC now owns 400,000 shares of the company’s stock valued at $6,524,000 after buying an additional 364,875 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Fidelis Insurance in the 2nd quarter valued at approximately $1,196,000. The Manufacturers Life Insurance Company raised its position in shares of Fidelis Insurance by 3.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,327 shares of the company’s stock valued at $283,000 after purchasing an additional 649 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in Fidelis Insurance during the 2nd quarter worth approximately $566,000. Institutional investors own 81.99% of the company’s stock.

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.