Brokerages Set Fidelis Insurance Holdings Limited (NYSE:FIHL) Target Price at $21.14

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) have been given a consensus rating of “Hold” by the ten ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $21.1429.

A number of analysts have weighed in on the company. UBS Group upped their target price on Fidelis Insurance from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Keefe, Bruyette & Woods dropped their price objective on Fidelis Insurance from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, November 14th. The Goldman Sachs Group increased their price target on shares of Fidelis Insurance from $16.50 to $17.00 and gave the company a “sell” rating in a research report on Wednesday, November 19th. Barclays lifted their price objective on shares of Fidelis Insurance from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Finally, Evercore ISI raised their target price on shares of Fidelis Insurance from $19.00 to $20.00 and gave the company an “in-line” rating in a research note on Thursday, November 13th.

Fidelis Insurance Price Performance

Shares of FIHL stock opened at $19.64 on Monday. Fidelis Insurance has a twelve month low of $14.17 and a twelve month high of $19.72. 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 stock has a fifty day simple moving average of $18.53 and a two-hundred day simple moving average of $17.39. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -392.74 and a beta of 0.25.

Fidelis Insurance (NYSE:FIHL) last issued its earnings results on Wednesday, November 12th. The company reported $1.21 earnings per share (EPS) 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 company had revenue of $651.90 million for the quarter, compared to analysts’ expectations of $676.79 million. On average, analysts predict that Fidelis Insurance will post 3.12 EPS for the current fiscal year.

Fidelis Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 10th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $0.60 dividend on an annualized basis and a yield of 3.1%. Fidelis Insurance’s dividend payout ratio (DPR) is -1,200.00%.

Hedge Funds Weigh In On Fidelis Insurance

Hedge funds have recently modified their holdings of the stock. Royce & Associates LP boosted its stake in Fidelis Insurance by 2,333.5% in the 3rd quarter. Royce & Associates LP now owns 1,591,259 shares of the company’s stock worth $28,881,000 after purchasing an additional 1,525,868 shares in the last quarter. Cooperman Leon G grew its holdings in shares of Fidelis Insurance by 27.5% during the first quarter. Cooperman Leon G now owns 4,799,778 shares of the company’s stock valued at $77,756,000 after buying an additional 1,036,019 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Fidelis Insurance during the first quarter valued at $12,862,000. JPMorgan Chase & Co. raised its stake in Fidelis Insurance by 332.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 937,527 shares of the company’s stock worth $15,544,000 after acquiring an additional 720,734 shares during the last quarter. Finally, LSV Asset Management lifted its position in Fidelis Insurance by 23.3% during the 2nd quarter. LSV Asset Management now owns 3,119,180 shares of the company’s stock worth $51,716,000 after acquiring an additional 589,985 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Fidelis Insurance Company Profile

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.