Barclays Forecasts Strong Price Appreciation for Fidelis Insurance (NYSE:FIHL) Stock

Fidelis Insurance (NYSE:FIHL) had its price target lifted by equities research analysts at Barclays from $19.00 to $21.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 3.42% from the company’s previous close.

A number of other analysts have also commented on FIHL. Keefe, Bruyette & Woods upped their price objective on shares of Fidelis Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, February 23rd. Evercore set a $21.00 target price on shares of Fidelis Insurance in a research report on Wednesday, January 7th. Weiss Ratings upgraded shares of Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, March 6th. The Goldman Sachs Group set a $17.50 price objective on shares of Fidelis Insurance in a research note on Saturday, January 17th. Finally, Wall Street Zen cut shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.64.

Fidelis Insurance Stock Performance

Shares of NYSE FIHL opened at $20.31 on Wednesday. The stock’s fifty day simple moving average is $19.28 and its 200 day simple moving average is $18.85. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 9.19 and a beta of 0.23. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.35. Fidelis Insurance has a 52-week low of $14.80 and a 52-week high of $20.53.

Fidelis Insurance (NYSE:FIHL) last announced its earnings results on Thursday, February 26th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.96 by $0.13. Fidelis Insurance had a return on equity of 8.62% and a net margin of 9.02%.The business had revenue of $600.90 million during the quarter, compared to the consensus estimate of $756.14 million. As a group, sell-side analysts forecast that Fidelis Insurance will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance declared that its Board of Directors has authorized a share repurchase plan on Friday, February 20th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 18% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Fidelis Insurance

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in Fidelis Insurance by 62.1% in the 1st quarter. Royal Bank of Canada now owns 15,988 shares of the company’s stock valued at $258,000 after buying an additional 6,124 shares during the period. AQR Capital Management LLC boosted its stake in shares of Fidelis Insurance by 41.2% during the 1st quarter. AQR Capital Management LLC now owns 74,025 shares of the company’s stock valued at $1,199,000 after buying an additional 21,590 shares during the period. Millennium Management LLC grew its holdings in shares of Fidelis Insurance by 4.0% during the 1st quarter. Millennium Management LLC now owns 859,192 shares of the company’s stock valued at $13,919,000 after acquiring an additional 33,420 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Fidelis Insurance by 55.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 896,089 shares of the company’s stock valued at $14,517,000 after acquiring an additional 320,242 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Fidelis Insurance by 177.3% in the first quarter. Jane Street Group LLC now owns 103,332 shares of the company’s stock worth $1,674,000 after acquiring an additional 66,063 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Ltd is a Bermuda‐incorporated specialty insurer and reinsurer that underwrites a broad range of liability and property risks. Founded in 2015, the company completed its initial public offering on the New York Stock Exchange in 2016 under the ticker FIHL. Fidelis focuses on providing tailored solutions for complex risks that traditional insurers may find difficult to accommodate, leveraging data analytics and underwriting expertise to structure policies across diverse industry segments.

The company’s product portfolio spans casualty lines—including general liability, excess and umbrella, professional indemnity, and management liability—alongside property, marine, energy and specialty programs.