Fidelis Insurance Holdings Limited (NYSE:FIHL) Receives $20.44 Average Target Price from Brokerages

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) have received an average rating of “Hold” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $20.44.

FIHL has been the subject of a number of research analyst reports. The Goldman Sachs Group started coverage on Fidelis Insurance in a research note on Tuesday, September 17th. They set a “neutral” rating and a $18.50 price target for the company. 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 price target on the stock. Barclays began coverage on shares of Fidelis Insurance in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $21.00 price objective for the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $24.00 target price on shares of Fidelis Insurance in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price objective on Fidelis Insurance from $18.50 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th.

Fidelis Insurance Stock Performance

NYSE:FIHL opened at $17.79 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s fifty day moving average is $18.09 and its 200 day moving average is $17.67. The firm has a market capitalization of $2.10 billion, a PE ratio of 4.32 and a beta of -0.11. 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 released its earnings results on Wednesday, August 14th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $582.19 million. On average, sell-side analysts anticipate that Fidelis Insurance will post 2.94 earnings per share for the current year.

Fidelis Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.40 dividend on an annualized basis and a yield of 2.25%. Fidelis Insurance’s dividend payout ratio is presently 9.71%.

Hedge Funds Weigh In On Fidelis Insurance

Several institutional investors and hedge funds have recently bought and sold shares of FIHL. Vanguard Group Inc. increased its holdings in shares of Fidelis Insurance by 227.4% during the first quarter. Vanguard Group Inc. now owns 562,570 shares of the company’s stock valued at $10,959,000 after acquiring an additional 390,754 shares in the last quarter. Boston Partners lifted its stake in shares of Fidelis Insurance by 213.7% during the first quarter. Boston Partners now owns 714,683 shares of the company’s stock worth $13,922,000 after buying an additional 486,888 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Fidelis Insurance during the first quarter valued at $1,287,000. Quadrature Capital Ltd grew its holdings in shares of Fidelis Insurance by 125.0% during the first quarter. Quadrature Capital Ltd now owns 65,639 shares of the company’s stock valued at $1,279,000 after buying an additional 36,464 shares during the last quarter. Finally, Interval Partners LP increased its position in shares of Fidelis Insurance by 75.6% in the 2nd quarter. Interval Partners LP now owns 248,116 shares of the company’s stock valued at $4,047,000 after acquiring an additional 106,845 shares during the period. 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.