Fidelis Insurance (NYSE:FIHL) Earns Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Fidelis Insurance (NYSE:FIHL) in a report issued on Monday, Benzinga reports. JMP Securities currently has a $24.00 price target on the stock.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods raised their price target on Fidelis Insurance from $22.00 to $24.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price objective on Fidelis Insurance from $17.00 to $17.50 and gave the company a neutral rating in a report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $18.44.

Fidelis Insurance Stock Performance

NYSE FIHL opened at $18.32 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.21. Fidelis Insurance has a 52-week low of $11.55 and a 52-week high of $19.80. The business’s 50-day moving average price is $16.77 and its 200 day moving average price is $14.44. The firm has a market cap of $2.16 billion and a P/E ratio of 0.96.

Fidelis Insurance (NYSE:FIHL) last released its quarterly earnings results on Thursday, February 29th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.41. Fidelis Insurance had a return on equity of 20.23% and a net margin of 59.30%. The firm had revenue of $553.70 million for the quarter, compared to analyst estimates of $522.52 million. On average, equities research analysts expect that Fidelis Insurance will post 3.24 earnings per share for the current year.

Fidelis Insurance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, March 14th. Fidelis Insurance’s dividend payout ratio (DPR) is 2.10%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Amalgamated Bank acquired a new position in Fidelis Insurance in the 3rd quarter valued at $26,000. UBS Group AG acquired a new position in Fidelis Insurance in the 3rd quarter valued at $42,000. California State Teachers Retirement System acquired a new position in Fidelis Insurance in the 3rd quarter valued at $49,000. New York State Common Retirement Fund acquired a new position in Fidelis Insurance in the 3rd quarter valued at $53,000. Finally, Toronto Dominion Bank acquired a new position in Fidelis Insurance in the 3rd quarter valued at $73,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

About Fidelis Insurance

Fidelis Insurance Holdings Limited, together with its subsidiaries, provides insurance and reinsurance products 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.