Fidelis Insurance Holdings Limited (NYSE:FIHL) Receives $20.00 Average PT from Analysts

Fidelis Insurance Holdings Limited (NYSE:FIHL) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $20.00.

Several equities research analysts recently weighed in on the company. Evercore ISI assumed coverage on Fidelis Insurance in a report on Wednesday, July 17th. They issued an “inline” rating and a $19.00 target price for the company. JMP Securities restated a “market outperform” rating and issued a $24.00 price objective on shares of Fidelis Insurance in a research note on Friday, August 16th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $24.00 target price on shares of Fidelis Insurance in a research note on Friday, August 16th. 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. Finally, JPMorgan Chase & Co. raised their price target on Fidelis Insurance from $18.50 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Lighthouse Investment Partners LLC bought a new position in Fidelis Insurance during the second quarter valued at about $1,196,000. The Manufacturers Life Insurance Company grew its holdings in shares of Fidelis Insurance by 3.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,327 shares of the company’s stock worth $283,000 after purchasing an additional 649 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Fidelis Insurance during the second quarter valued at approximately $566,000. Marshall Wace LLP raised its stake in shares of Fidelis Insurance by 836.3% in the second quarter. Marshall Wace LLP now owns 154,663 shares of the company’s stock valued at $2,523,000 after purchasing an additional 138,144 shares in the last quarter. Finally, Interval Partners LP lifted its position in Fidelis Insurance by 75.6% in the second quarter. Interval Partners LP now owns 248,116 shares of the company’s stock worth $4,047,000 after purchasing an additional 106,845 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Fidelis Insurance Price Performance

Shares of NYSE:FIHL opened at $18.52 on Tuesday. The stock has a market capitalization of $2.18 billion, a P/E ratio of 4.50 and a beta of -0.10. The business has a 50-day moving average of $17.33 and a two-hundred day moving average of $17.38. Fidelis Insurance has a fifty-two week low of $11.55 and a fifty-two week high of $20.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.68 and a quick ratio of 0.68.

Fidelis Insurance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.10 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.40 annualized dividend and a yield of 2.16%. Fidelis Insurance’s dividend 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.