Fidelis Insurance (NYSE:FIHL) Price Target Raised to $19.00 at Evercore ISI

Fidelis Insurance (NYSE:FIHL) had its target price lifted by Evercore ISI from $18.00 to $19.00 in a research note released on Wednesday morning, Marketbeat.com reports. They currently have an in-line rating on the stock.

A number of other research firms also recently issued reports on FIHL. Keefe, Bruyette & Woods lifted their price objective on shares of Fidelis Insurance from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, July 1st. Zacks Research raised shares of Fidelis Insurance from a “strong sell” rating to a “hold” rating in a report on Thursday, September 11th. Finally, Barclays lifted their price objective on shares of Fidelis Insurance from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.43.

Fidelis Insurance Stock Up 1.8%

Shares of NYSE FIHL opened at $18.12 on Wednesday. The company has a market capitalization of $2.01 billion, a P/E ratio of -44.19 and a beta of 0.28. Fidelis Insurance has a 52-week low of $14.17 and a 52-week high of $21.32. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 0.71. The company’s 50 day moving average price is $17.02 and its 200-day moving average price is $16.59.

Fidelis Insurance (NYSE:FIHL) last released its quarterly earnings data on Wednesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.24. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $604.62 million. Fidelis Insurance had a negative net margin of 1.70% and a negative return on equity of 1.81%. Equities analysts forecast that Fidelis Insurance will post 3.12 earnings per share for the current year.

Fidelis Insurance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.3%. This is a boost from Fidelis Insurance’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, September 16th. Fidelis Insurance’s payout ratio is currently -146.34%.

Institutional Investors Weigh In On Fidelis Insurance

Hedge funds and other institutional investors have recently modified their holdings of the stock. North Capital Inc. bought a new position in shares of Fidelis Insurance in the second quarter worth approximately $33,000. Garde Capital Inc. bought a new position in shares of Fidelis Insurance in the first quarter worth approximately $62,000. GAMMA Investing LLC increased its position in shares of Fidelis Insurance by 1,267.3% in the first quarter. GAMMA Investing LLC now owns 4,471 shares of the company’s stock worth $72,000 after purchasing an additional 4,144 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Fidelis Insurance by 15.3% in the second quarter. Ameritas Investment Partners Inc. now owns 6,088 shares of the company’s stock worth $101,000 after purchasing an additional 810 shares during the last quarter. Finally, CWM LLC increased its position in shares of Fidelis Insurance by 444.4% in the second quarter. CWM LLC now owns 7,131 shares of the company’s stock worth $118,000 after purchasing an additional 5,821 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

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.