Fidelis Insurance (NYSE:FIHL) Announces Earnings Results

Fidelis Insurance (NYSE:FIHL) announced its quarterly earnings results on Wednesday. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.19, FiscalAI reports. The company had revenue of $610.60 million for the quarter, compared to analyst estimates of $903.16 million. Fidelis Insurance had a net margin of 9.02% and a return on equity of 8.62%.

Fidelis Insurance Stock Down 1.7%

NYSE:FIHL traded down $0.36 during trading hours on Wednesday, hitting $20.35. The stock had a trading volume of 560,700 shares, compared to its average volume of 358,382. The business has a 50 day simple moving average of $19.78 and a two-hundred day simple moving average of $19.27. Fidelis Insurance has a 1-year low of $14.80 and a 1-year high of $21.50. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35. The company has a market cap of $1.76 billion, a PE ratio of 9.21 and a beta of 0.36.

Fidelis Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.60 annualized dividend and a dividend yield of 2.9%. Fidelis Insurance’s dividend payout ratio is presently 27.15%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FIHL. The Goldman Sachs Group set a $17.50 target price on Fidelis Insurance in a report on Saturday, January 17th. Weiss Ratings upgraded Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, March 6th. UBS Group lifted their price objective on Fidelis Insurance from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Keefe, Bruyette & Woods boosted their target price on Fidelis Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, February 23rd. Finally, Wall Street Zen downgraded shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.64.

Hedge Funds Weigh In On Fidelis Insurance

Institutional investors have recently added to or reduced their stakes in the company. Focus Partners Wealth acquired a new position in shares of Fidelis Insurance in the third quarter worth about $77,000. Tower Research Capital LLC TRC boosted its stake in shares of Fidelis Insurance by 58.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,786 shares of the company’s stock valued at $129,000 after buying an additional 2,885 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Fidelis Insurance during the second quarter worth approximately $169,000. Quadrant Capital Group LLC bought a new stake in shares of Fidelis Insurance in the third quarter worth $193,000. Finally, State of Wyoming acquired a new stake in Fidelis Insurance in the fourth quarter valued at $214,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Fidelis Insurance declared that its board has authorized a share buyback program on Friday, February 20th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 18% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Ltd is a Bermuda?incorporated specialty insurer and reinsurer that underwrites a broad range of liability and property risks. Founded in 2015, the company completed its initial public offering on the New York Stock Exchange in 2016 under the ticker FIHL. Fidelis focuses on providing tailored solutions for complex risks that traditional insurers may find difficult to accommodate, leveraging data analytics and underwriting expertise to structure policies across diverse industry segments.

The company’s product portfolio spans casualty lines—including general liability, excess and umbrella, professional indemnity, and management liability—alongside property, marine, energy and specialty programs.