Fidelis Insurance Holdings Limited (NYSE:FIHL) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $18.44.

Several brokerages have issued reports on FIHL. JPMorgan Chase & Co. raised their price target on Fidelis Insurance from $17.00 to $17.50 and gave the company a “neutral” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods raised their price target on Fidelis Insurance from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $24.00 price target on shares of Fidelis Insurance in a report on Monday, April 15th.

Fidelis Insurance Trading Up 2.9 %

NYSE FIHL opened at $19.61 on Wednesday. The company has a market cap of $2.31 billion and a PE ratio of 1.03. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. Fidelis Insurance has a 12 month low of $11.55 and a 12 month high of $19.80. The stock has a 50 day moving average of $17.37 and a 200-day moving average of $14.59.

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

Fidelis Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Thursday, March 14th. Fidelis Insurance’s dividend payout ratio is currently 2.10%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FIHL. Pine Brook Road Advisors L.P. bought a new position in Fidelis Insurance in the fourth quarter valued at about $107,116,000. Victory Capital Management Inc. bought a new stake in shares of Fidelis Insurance during the third quarter worth about $15,784,000. Graypoint LLC bought a new stake in shares of Fidelis Insurance during the fourth quarter worth about $1,776,000. Russell Investments Group Ltd. grew its holdings in shares of Fidelis Insurance by 20.4% during the fourth quarter. Russell Investments Group Ltd. now owns 815,174 shares of the company’s stock worth $10,328,000 after purchasing an additional 138,295 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Fidelis Insurance by 0.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 15,360,508 shares of the company’s stock worth $194,618,000 after purchasing an additional 131,657 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Company Profile

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.