Fidelis Insurance Holdings Limited (NYSE:FIHL) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $19.25.

A number of equities research analysts have recently issued reports on FIHL shares. JPMorgan Chase & Co. upped their target price on shares of Fidelis Insurance from $18.50 to $20.00 and gave the stock a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods increased their price objective on shares of Fidelis Insurance from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. UBS Group decreased their target price on shares of 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, JMP Securities restated a “market outperform” rating and issued a $24.00 price target on shares of Fidelis Insurance in a research report on Monday, April 15th.

Institutional Investors Weigh In On Fidelis Insurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIHL. Cambridge Trust Co. acquired a new stake in shares of Fidelis Insurance during the first quarter valued at about $58,000. EntryPoint Capital LLC purchased a new stake in Fidelis Insurance in the first quarter valued at approximately $63,000. Tower Research Capital LLC TRC lifted its stake in Fidelis Insurance by 2,976.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,675 shares of the company’s stock worth $110,000 after purchasing an additional 8,393 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Fidelis Insurance by 297.6% during the first quarter. Ameritas Investment Partners Inc. now owns 6,043 shares of the company’s stock worth $118,000 after buying an additional 4,523 shares during the period. Finally, California State Teachers Retirement System grew its stake in shares of Fidelis Insurance by 144.4% in the first quarter. California State Teachers Retirement System now owns 6,103 shares of the company’s stock valued at $119,000 after buying an additional 3,606 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Stock Up 1.8 %

FIHL opened at $17.43 on Monday. The company has a market cap of $2.06 billion and a PE ratio of 4.23. Fidelis Insurance has a twelve month low of $11.55 and a twelve month high of $20.53. The company has a 50-day moving average price of $16.75 and a 200 day moving average price of $16.16. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.18.

Fidelis Insurance (NYSE:FIHL) last released its earnings results on Thursday, May 9th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). Fidelis Insurance had a net margin of 23.31% and a return on equity of 17.97%. The firm had revenue of $520.00 million during the quarter, compared to analysts’ expectations of $585.88 million. Sell-side analysts expect that Fidelis Insurance will post 3.06 earnings per share for the current fiscal year.

Fidelis Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.40 annualized dividend and a yield of 2.29%. 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.