Fidelis Insurance (NYSE:FIHL) Hits New 52-Week High – Still a Buy?

Fidelis Insurance Holdings Limited (NYSE:FIHL)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $19.33 and last traded at $19.3950, with a volume of 9374 shares. The stock had previously closed at $19.20.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Evercore ISI raised their price objective on shares of Fidelis Insurance from $19.00 to $20.00 and gave the company an “in-line” rating in a research report on Thursday, November 13th. Barclays boosted their target price on shares of Fidelis Insurance from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Zacks Research upgraded shares of Fidelis Insurance from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 11th. The Goldman Sachs Group upped their price target on Fidelis Insurance from $16.50 to $17.00 and gave the company a “sell” rating in a report on Wednesday, November 19th. Finally, Keefe, Bruyette & Woods reduced their price objective on Fidelis Insurance from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.14.

Fidelis Insurance Stock Performance

The firm’s 50 day simple moving average is $18.51 and its 200-day simple moving average is $17.38. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -387.86 and a beta of 0.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 0.74.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.02. The business had revenue of $651.90 million for the quarter, compared to the consensus estimate of $676.79 million. Fidelis Insurance had a negative return on equity of 0.94% and a negative net margin of 0.56%. Analysts expect that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current year.

Fidelis Insurance Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FIHL. Cooperman Leon G boosted its stake in shares of Fidelis Insurance by 14.8% during the 3rd quarter. Cooperman Leon G now owns 6,662,469 shares of the company’s stock valued at $120,924,000 after buying an additional 856,413 shares during the period. American Century Companies Inc. raised its holdings in shares of Fidelis Insurance by 6.9% during the first quarter. American Century Companies Inc. now owns 3,825,159 shares of the company’s stock worth $61,968,000 after acquiring an additional 248,141 shares in the last quarter. Wellington Management Group LLP boosted its position in Fidelis Insurance by 4.5% during the first quarter. Wellington Management Group LLP now owns 3,386,797 shares of the company’s stock valued at $54,866,000 after purchasing an additional 146,116 shares during the last quarter. LSV Asset Management grew its stake in Fidelis Insurance by 23.3% in the second quarter. LSV Asset Management now owns 3,119,180 shares of the company’s stock valued at $51,716,000 after purchasing an additional 589,985 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Fidelis Insurance by 16.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,623,506 shares of the company’s stock worth $47,612,000 after purchasing an additional 367,538 shares during the last quarter. Institutional investors and hedge funds 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.