Fidelis Insurance (NYSE:FIHL) Reaches New 1-Year High on Analyst Upgrade

Fidelis Insurance Holdings Limited (NYSE:FIHL)’s stock price hit a new 52-week high on Thursday after Barclays raised their price target on the stock from $19.00 to $21.00. Barclays currently has an equal weight rating on the stock. Fidelis Insurance traded as high as $20.52 and last traded at $20.4860, with a volume of 272574 shares traded. The stock had previously closed at $19.69.

Several other brokerages also recently weighed in on FIHL. Wall Street Zen downgraded shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Weiss Ratings upgraded shares of Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, March 6th. UBS Group increased their price target on shares of Fidelis Insurance from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, March 9th. The Goldman Sachs Group set a $17.50 price objective on shares of Fidelis Insurance in a research note on Saturday, January 17th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Fidelis Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $22.64.

Institutional Investors Weigh In On Fidelis Insurance

A number of hedge funds and other institutional investors have recently made changes to their positions in FIHL. Royce & Associates LP grew its stake in shares of Fidelis Insurance by 2,333.5% during the 3rd quarter. Royce & Associates LP now owns 1,591,259 shares of the company’s stock worth $28,881,000 after purchasing an additional 1,525,868 shares during the period. LSV Asset Management grew its stake in shares of Fidelis Insurance by 46.1% during the 4th quarter. LSV Asset Management now owns 4,377,732 shares of the company’s stock worth $85,672,000 after purchasing an additional 1,382,352 shares during the period. Cooperman Leon G lifted its position in shares of Fidelis Insurance by 14.8% during the 3rd quarter. Cooperman Leon G now owns 6,662,469 shares of the company’s stock valued at $120,924,000 after buying an additional 856,413 shares in the last quarter. Millennium Management LLC lifted its position in shares of Fidelis Insurance by 113.9% during the 3rd quarter. Millennium Management LLC now owns 924,380 shares of the company’s stock valued at $16,777,000 after buying an additional 492,253 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Fidelis Insurance by 108.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 729,818 shares of the company’s stock valued at $14,283,000 after buying an additional 380,352 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Fidelis Insurance Stock Up 3.1%

The stock has a market cap of $1.96 billion, a PE ratio of 9.19 and a beta of 0.23. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $19.28 and a 200-day moving average price of $18.85.

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

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 16th were given a dividend of $0.15 per share. The ex-dividend date was Monday, March 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.0%. Fidelis Insurance’s dividend payout ratio (DPR) is 27.15%.

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

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.