Fidelis Insurance (NYSE:FIHL) Price Target Raised to $24.00

Fidelis Insurance (NYSE:FIHL) had its target price upped by Keefe, Bruyette & Woods from $23.00 to $24.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

FIHL has been the subject of several other research reports. Wall Street Zen lowered shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Zacks Research raised Fidelis Insurance from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 11th. Barclays raised their price target on Fidelis Insurance from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. The Goldman Sachs Group lifted their price objective on Fidelis Insurance from $16.50 to $17.00 and gave the company a “sell” rating in a report on Wednesday, November 19th. Finally, Evercore ISI increased their target price on Fidelis Insurance from $19.00 to $20.00 and gave the stock an “in-line” rating in a research note on Thursday, November 13th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.00.

Fidelis Insurance Price Performance

Fidelis Insurance stock opened at $19.26 on Tuesday. 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 firm has a market capitalization of $2.13 billion, a P/E ratio of -385.16 and a beta of 0.24. The business has a 50-day moving average of $18.94 and a 200-day moving average of $17.68. Fidelis Insurance has a 1 year low of $14.17 and a 1 year high of $19.83.

Fidelis Insurance (NYSE:FIHL) last released its quarterly earnings data on Wednesday, November 12th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.02. Fidelis Insurance had a negative net margin of 0.56% and a negative return on equity of 0.94%. The business had revenue of $651.90 million for the quarter, compared to analyst estimates of $676.79 million. On average, equities analysts anticipate that Fidelis Insurance will post 3.12 EPS for the current year.

Fidelis Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Wednesday, December 10th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, December 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.1%. Fidelis Insurance’s dividend payout ratio (DPR) is presently -1,200.00%.

Hedge Funds Weigh In On Fidelis Insurance

Large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Fidelis Insurance in the fourth quarter valued at approximately $226,000. Jacobs Levy Equity Management Inc. grew its position in Fidelis Insurance by 26.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 466,233 shares of the company’s stock valued at $8,462,000 after purchasing an additional 97,545 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in Fidelis Insurance in the 3rd quarter valued at $748,000. Public Employees Retirement System of Ohio increased its stake in Fidelis Insurance by 11.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 74,747 shares of the company’s stock valued at $1,357,000 after buying an additional 7,746 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Fidelis Insurance by 113.9% during the 3rd quarter. Millennium Management LLC now owns 924,380 shares of the company’s stock worth $16,777,000 after buying an additional 492,253 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

About Fidelis Insurance

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.