Fidelis Insurance (NYSE:FIHL) Price Target Raised to $26.00

Fidelis Insurance (NYSE:FIHL) had its target price increased by Keefe, Bruyette & Woods from $25.00 to $26.00 in a research note released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also commented on FIHL. Barclays assumed coverage on shares of Fidelis Insurance in a report on Wednesday, September 4th. They set an “equal weight” rating and a $21.00 target price on the stock. Evercore ISI began coverage on Fidelis Insurance in a research note on Wednesday, July 17th. They set an “inline” rating and a $19.00 price objective on the stock. The Goldman Sachs Group began coverage on Fidelis Insurance in a report on Tuesday, September 17th. They issued a “neutral” rating and a $18.50 price objective on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $24.00 target price on shares of Fidelis Insurance in a report on Friday, August 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Fidelis Insurance presently has a consensus rating of “Hold” and a consensus target price of $20.69.

Fidelis Insurance Price Performance

Shares of Fidelis Insurance stock opened at $19.65 on Thursday. The business’s 50-day moving average price is $17.98 and its 200-day moving average price is $17.51. The firm has a market capitalization of $2.32 billion, a PE ratio of 4.96 and a beta of -0.01. Fidelis Insurance has a 12 month low of $11.55 and a 12 month high of $21.32. The company has a current ratio of 0.68, a quick ratio of 0.65 and a debt-to-equity ratio of 0.17.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.15). The business had revenue of $547.10 million for the quarter, compared to the consensus estimate of $582.19 million. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. Sell-side analysts forecast that Fidelis Insurance will post 2.9 EPS for the current fiscal year.

Fidelis Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.04%. Fidelis Insurance’s dividend payout ratio is currently 10.10%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Cambridge Trust Co. purchased a new stake in Fidelis Insurance in the 1st quarter worth approximately $58,000. EntryPoint Capital LLC bought a new position in shares of Fidelis Insurance during the first quarter valued at approximately $63,000. Ameritas Investment Partners Inc. raised its holdings in shares of Fidelis Insurance by 297.6% during the first quarter. Ameritas Investment Partners Inc. now owns 6,043 shares of the company’s stock valued at $118,000 after acquiring an additional 4,523 shares in the last quarter. California State Teachers Retirement System lifted its stake in Fidelis Insurance by 144.4% in the first quarter. California State Teachers Retirement System now owns 6,103 shares of the company’s stock worth $119,000 after acquiring an additional 3,606 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Fidelis Insurance in the second quarter valued at $140,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.