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

Fidelis Insurance (NYSE:FIHL) had its price objective reduced by Keefe, Bruyette & Woods from $24.00 to $23.00 in a research note issued to investors on Friday morning, MarketBeat reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fidelis Insurance in a research report on Wednesday, October 8th. Zacks Research upgraded Fidelis Insurance from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 11th. Evercore ISI lifted 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. Finally, Barclays boosted their price objective on shares of Fidelis Insurance from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Four research 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.14.

Fidelis Insurance Stock Down 1.7%

Shares of NYSE:FIHL opened at $18.37 on Friday. Fidelis Insurance has a 1-year low of $14.17 and a 1-year high of $20.85. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market cap of $2.03 billion, a P/E ratio of -367.38 and a beta of 0.27. The firm has a fifty day moving average price of $18.03 and a 200 day moving average price of $17.10.

Fidelis Insurance (NYSE:FIHL) last announced its earnings results on Wednesday, November 12th. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.02. Fidelis Insurance had a negative net margin of 0.56% and a negative return on equity of 0.94%. The business had revenue of $797.50 million during the quarter, compared to analysts’ expectations of $676.79 million. Sell-side analysts predict that Fidelis Insurance will post 3.12 EPS for the current year.

Fidelis Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 10th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.3%. Fidelis Insurance’s payout ratio is -1,200.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cooperman Leon G boosted its holdings 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 acquiring an additional 1,036,019 shares during the period. American Century Companies Inc. raised its position in Fidelis Insurance by 6.9% in the 1st quarter. American Century Companies Inc. now owns 3,825,159 shares of the company’s stock valued at $61,968,000 after purchasing an additional 248,141 shares during the last quarter. Wellington Management Group LLP boosted its stake in Fidelis Insurance by 4.5% during the 1st quarter. Wellington Management Group LLP now owns 3,386,797 shares of the company’s stock worth $54,866,000 after purchasing an additional 146,116 shares during the period. LSV Asset Management grew its position in Fidelis Insurance by 23.3% during the 2nd quarter. LSV Asset Management now owns 3,119,180 shares of the company’s stock worth $51,716,000 after purchasing an additional 589,985 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Fidelis Insurance by 16.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,623,506 shares of the company’s stock valued at $47,612,000 after purchasing an additional 367,538 shares during the period. 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.