Analysts Set Fidelis Insurance Holdings Limited (NYSE:FIHL) Price Target at $20.71

Fidelis Insurance Holdings Limited (NYSE:FIHL) has received a consensus recommendation of “Hold” from the nine research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $20.7143.

Several brokerages have commented on FIHL. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fidelis Insurance in a research report on Wednesday, October 8th. Zacks Research raised Fidelis Insurance from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 11th. Barclays upped their price objective on Fidelis Insurance from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price objective on Fidelis Insurance from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday, July 1st. Finally, Evercore ISI reissued a “mixed” rating on shares of Fidelis Insurance in a research report on Wednesday, October 1st.

Hedge Funds Weigh In On Fidelis Insurance

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its position in shares of Fidelis Insurance by 15.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,088 shares of the company’s stock worth $101,000 after buying an additional 810 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Fidelis Insurance by 2.7% during the 2nd quarter. Advisory Services Network LLC now owns 33,472 shares of the company’s stock worth $506,000 after buying an additional 882 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Fidelis Insurance by 1.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 60,344 shares of the company’s stock worth $1,001,000 after buying an additional 998 shares in the last quarter. Empowered Funds LLC grew its position in shares of Fidelis Insurance by 0.3% during the 2nd quarter. Empowered Funds LLC now owns 443,779 shares of the company’s stock worth $7,358,000 after buying an additional 1,209 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its position in shares of Fidelis Insurance by 1.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 72,167 shares of the company’s stock worth $1,310,000 after buying an additional 1,226 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Stock Performance

Shares of Fidelis Insurance stock opened at $17.97 on Friday. The stock’s fifty day moving average is $17.75 and its two-hundred day moving average is $16.89. The company has a market capitalization of $1.99 billion, a PE ratio of -43.82 and a beta of 0.28. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.36. Fidelis Insurance has a 52 week low of $14.17 and a 52 week high of $21.32.

Fidelis Insurance (NYSE:FIHL) last announced its quarterly earnings data on Wednesday, August 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.24. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $604.62 million. Fidelis Insurance had a negative return on equity of 1.81% and a negative net margin of 1.70%. As a group, analysts expect that Fidelis Insurance will post 3.12 earnings per share for the current year.

Fidelis Insurance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Tuesday, September 16th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. This is a positive change from Fidelis Insurance’s previous quarterly dividend of $0.10. Fidelis Insurance’s dividend payout ratio is currently -146.34%.

Fidelis Insurance Company Profile

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.