Fidelis Insurance (NYSE:FIHL) Sets New 1-Year High – Here’s What Happened

Fidelis Insurance Holdings Limited (NYSE:FIHL) shares reached a new 52-week high on Wednesday . The stock traded as high as $21.32 and last traded at $20.49, with a volume of 154771 shares changing hands. The stock had previously closed at $18.46.

Analyst Ratings Changes

FIHL has been the subject of several research reports. JMP Securities reissued a “market outperform” rating and set a $24.00 price objective on shares of Fidelis Insurance in a report on Friday, August 16th. The Goldman Sachs Group started coverage on shares of Fidelis Insurance in a report on Tuesday, September 17th. They set a “neutral” rating and a $18.50 price objective for the company. Barclays started coverage on shares of Fidelis Insurance in a report on Wednesday, September 4th. They set an “equal weight” rating and a $21.00 target price for the company. Finally, Keefe, Bruyette & Woods upped their target price on shares of Fidelis Insurance from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.69.

Fidelis Insurance Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The company’s 50-day simple moving average is $17.92 and its 200 day simple moving average is $17.50. The firm has a market cap of $2.32 billion, a P/E ratio of 4.98 and a beta of -0.01.

Fidelis Insurance (NYSE:FIHL) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.15). The company had revenue of $547.10 million during the quarter, compared to analysts’ expectations of $582.19 million. Fidelis Insurance had a return on equity of 15.49% and a net margin of 20.17%. Research analysts anticipate that Fidelis Insurance Holdings Limited will post 2.9 EPS for the current fiscal year.

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, November 29th. Fidelis Insurance’s dividend payout ratio (DPR) is 10.10%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in Fidelis Insurance by 62.0% in the 2nd quarter. American Century Companies Inc. now owns 3,265,564 shares of the company’s stock worth $53,261,000 after purchasing an additional 1,249,853 shares in the last quarter. Boston Partners boosted its stake in Fidelis Insurance by 213.7% in the 1st quarter. Boston Partners now owns 714,683 shares of the company’s stock worth $13,922,000 after purchasing an additional 486,888 shares in the last quarter. Federated Hermes Inc. raised its position in Fidelis Insurance by 78.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company’s stock worth $17,593,000 after buying an additional 474,714 shares during the last quarter. Vanguard Group Inc. raised its position in Fidelis Insurance by 227.4% during the 1st quarter. Vanguard Group Inc. now owns 562,570 shares of the company’s stock worth $10,959,000 after buying an additional 390,754 shares during the last quarter. Finally, Ghisallo Capital Management LLC raised its position in Fidelis Insurance by 1,038.8% during the 2nd quarter. Ghisallo Capital Management LLC now owns 400,000 shares of the company’s stock worth $6,524,000 after buying an additional 364,875 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Company Profile

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.