Fidelis Insurance Holdings Limited (NYSE:FIHL) Given Average Rating of “Hold” by Brokerages

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) have been assigned an average rating of “Hold” from the eight brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $21.9167.

A number of equities research analysts recently commented on the stock. Weiss Ratings raised shares of Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, March 6th. Keefe, Bruyette & Woods upped their target price on shares of Fidelis Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, February 23rd. UBS Group upped their target price on shares of Fidelis Insurance from $24.00 to $25.00 and gave the company a “buy” rating in a report on Monday, March 9th. Barclays upped their target price on shares of Fidelis Insurance from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Finally, Wall Street Zen lowered shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a report on Sunday, February 8th.

Fidelis Insurance Price Performance

Shares of NYSE FIHL opened at $23.47 on Thursday. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 10.62 and a beta of 0.36. Fidelis Insurance has a 52 week low of $14.80 and a 52 week high of $21.50. The company’s 50-day moving average price is $20.15 and its 200 day moving average price is $19.44. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.94 EPS for the quarter. The firm had revenue of $610.60 million for the quarter. Fidelis Insurance had a net margin of 9.02% and a return on equity of 8.62%. As a group, research analysts forecast that Fidelis Insurance will post 3.19 earnings per share for the current fiscal year.

Fidelis Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, June 15th. Fidelis Insurance’s dividend payout ratio is 27.15%.

Fidelis Insurance declared that its board has initiated a share buyback plan on Friday, February 20th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 18% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Focus Partners Wealth purchased a new position in Fidelis Insurance in the 3rd quarter valued at about $77,000. Tower Research Capital LLC TRC lifted its holdings in Fidelis Insurance by 58.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,786 shares of the company’s stock valued at $129,000 after purchasing an additional 2,885 shares in the last quarter. First Trust Advisors LP purchased a new position in Fidelis Insurance in the 2nd quarter valued at about $169,000. Sei Investments Co. purchased a new position in shares of Fidelis Insurance during the 1st quarter worth about $200,000. Finally, Quadrant Capital Group LLC purchased a new position in shares of Fidelis Insurance during the 3rd quarter worth about $193,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.