UBS Group Issues Positive Forecast for Fidelis Insurance (NYSE:FIHL) Stock Price

Fidelis Insurance (NYSE:FIHL) had its price objective upped by UBS Group from $24.00 to $25.00 in a research report released on Monday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on FIHL. Weiss Ratings raised shares of Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday. JPMorgan Chase & Co. restated an “underweight” rating and set a $21.00 price objective (up from $19.00) on shares of Fidelis Insurance in a report on Wednesday, January 7th. Wall Street Zen lowered shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Evercore set a $21.00 target price on Fidelis Insurance in a report on Wednesday, January 7th. Finally, The Goldman Sachs Group set a $17.50 price target on Fidelis Insurance in a research note on Saturday, January 17th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.36.

Fidelis Insurance Stock Up 0.6%

NYSE:FIHL opened at $18.74 on Monday. Fidelis Insurance has a 1 year low of $14.39 and a 1 year high of $20.50. The stock has a 50-day moving average price of $19.22 and a two-hundred day moving average price of $18.60. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 8.48 and a beta of 0.25. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35.

Fidelis Insurance (NYSE:FIHL) last released its quarterly earnings data on Wednesday, February 25th. The company reported $1.09 earnings per share 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 for the quarter, compared to analysts’ expectations of $756.14 million. As a group, equities analysts expect that Fidelis Insurance will post 3.12 earnings per share for the current year.

Fidelis Insurance declared that its board has authorized a share repurchase plan on Friday, February 20th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to reacquire up to 18% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 16th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, March 16th. This represents a $0.60 annualized dividend and a yield of 3.2%. Fidelis Insurance’s dividend payout ratio is presently 27.15%.

Hedge Funds Weigh In On Fidelis Insurance

A number of large investors have recently modified their holdings of the business. Focus Partners Wealth bought a new position in shares of Fidelis Insurance in the 3rd quarter valued at about $77,000. Ameritas Investment Partners Inc. raised its holdings in Fidelis Insurance by 15.3% during the second quarter. Ameritas Investment Partners Inc. now owns 6,088 shares of the company’s stock worth $101,000 after acquiring an additional 810 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Fidelis Insurance by 58.9% during the second quarter. Tower Research Capital LLC TRC now owns 7,786 shares of the company’s stock valued at $129,000 after purchasing an additional 2,885 shares during the last quarter. EMC Capital Management acquired a new position in Fidelis Insurance during the second quarter valued at approximately $131,000. Finally, First Trust Advisors LP bought a new position in Fidelis Insurance in the second quarter valued at approximately $169,000. 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.