Fidelis Insurance Holdings Limited (NYSE:FIHL) to Issue Quarterly Dividend of $0.15

Fidelis Insurance Holdings Limited (NYSE:FIHL) declared a quarterly dividend on Wednesday, August 6th. Investors of record on Tuesday, September 16th will be given a dividend of 0.15 per share on Friday, September 26th. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 16th. This is a 50.0% increase from Fidelis Insurance’s previous quarterly dividend of $0.10.

Fidelis Insurance has a dividend payout ratio of 10.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Fidelis Insurance to earn $3.81 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 10.5%.

Fidelis Insurance Stock Up 0.7%

FIHL opened at $17.54 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 0.71. Fidelis Insurance has a fifty-two week low of $14.17 and a fifty-two week high of $21.32. The firm’s fifty day moving average is $16.51 and its 200 day moving average is $16.33. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -42.79 and a beta of 0.26.

Fidelis Insurance (NYSE:FIHL) last released its earnings results on Wednesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.24. Fidelis Insurance had a negative net margin of 1.70% and a negative return on equity of 1.81%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $604.62 million. On average, sell-side analysts forecast that Fidelis Insurance will post 3.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FIHL. Keefe, Bruyette & Woods lifted their price target on shares of Fidelis Insurance from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, July 1st. Zacks Research upgraded shares of Fidelis Insurance from a “strong sell” rating to a “hold” rating in a report on Thursday. Finally, Barclays lifted their price target on shares of Fidelis Insurance from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, July 7th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fidelis Insurance has a consensus rating of “Hold” and an average price target of $20.67.

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.