Keefe, Bruyette & Woods Cuts Fidelis Insurance (NYSE:FIHL) Price Target to $23.00

Fidelis Insurance (NYSE:FIHL) had its target price dropped by research analysts at Keefe, Bruyette & Woods from $24.00 to $23.00 in a report issued on Friday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 24.76% from the company’s previous close.

FIHL has been the topic of a number of other research reports. Barclays lifted their price target on Fidelis Insurance from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Evercore ISI boosted 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. Zacks Research raised shares of Fidelis Insurance from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fidelis Insurance in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Fidelis Insurance has an average rating of “Hold” and a consensus price target of $21.14.

Fidelis Insurance Stock Down 1.3%

NYSE FIHL traded down $0.25 during mid-day trading on Friday, reaching $18.44. 144,983 shares of the company’s stock traded hands, compared to its average volume of 602,117. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -369.10 and a beta of 0.27. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36. Fidelis Insurance has a 1-year low of $14.17 and a 1-year high of $20.85. The company has a fifty day simple moving average of $18.01 and a 200-day simple moving average of $17.08.

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, beating analysts’ consensus estimates of $1.19 by $0.02. The business had revenue of $797.50 million for the quarter, compared to analyst estimates of $676.79 million. Fidelis Insurance had a negative net margin of 0.56% and a negative return on equity of 0.95%. As a group, equities research analysts expect that Fidelis Insurance will post 3.12 EPS for the current year.

Hedge Funds Weigh In On Fidelis Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its position in Fidelis Insurance by 8.8% in the 1st quarter. Principal Financial Group Inc. now owns 76,356 shares of the company’s stock valued at $1,237,000 after acquiring an additional 6,207 shares in the last quarter. Cooperman Leon G boosted its stake in shares of Fidelis Insurance by 27.5% in 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 period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Fidelis Insurance by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 166,257 shares of the company’s stock worth $2,693,000 after acquiring an additional 43,038 shares during the period. LSV Asset Management lifted its holdings in shares of Fidelis Insurance by 87.7% in the first quarter. LSV Asset Management now owns 2,529,195 shares of the company’s stock worth $40,973,000 after acquiring an additional 1,181,439 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Fidelis Insurance by 16.1% in the 1st quarter. Bridgeway Capital Management LLC now owns 784,570 shares of the company’s stock valued at $12,710,000 after acquiring an additional 109,011 shares during the last quarter. 81.99% of the stock is 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.