Brokerages Set Fidelis Insurance Holdings Limited (NYSE:FIHL) Price Target at $21.92

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) have been given an average rating of “Hold” by the eight analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $21.9167.

A number of research firms recently weighed in on FIHL. UBS Group increased their price objective on shares of Fidelis Insurance from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Keefe, Bruyette & Woods increased their price objective on shares of Fidelis Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, February 23rd. Weiss Ratings raised shares of Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, March 6th. Finally, Barclays increased their price objective on shares of Fidelis Insurance from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th.

Fidelis Insurance Stock Up 1.3%

Shares of NYSE:FIHL opened at $23.65 on Monday. 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 has a 12 month low of $14.80 and a 12 month high of $21.50. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 10.70 and a beta of 0.36. The company has a 50-day moving average price of $21.31 and a 200 day moving average price of $19.87.

Fidelis Insurance (NYSE:FIHL) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.94 earnings per share for the quarter. Fidelis Insurance had a net margin of 9.02% and a return on equity of 8.62%. The company had revenue of $610.60 million for the quarter. As a group, equities research analysts predict that Fidelis Insurance will post 3.19 earnings per share for the current year.

Fidelis Insurance announced that its board has authorized a share buyback program on Friday, February 20th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 18% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Fidelis Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, June 15th. Fidelis Insurance’s dividend payout ratio is 27.15%.

Hedge Funds Weigh In On Fidelis Insurance

Institutional investors have recently modified their holdings of the stock. Focus Partners Wealth purchased a new position in shares of Fidelis Insurance during the third quarter worth approximately $77,000. Tower Research Capital LLC TRC increased its position in shares of Fidelis Insurance by 58.9% during the second quarter. Tower Research Capital LLC TRC now owns 7,786 shares of the company’s stock worth $129,000 after acquiring an additional 2,885 shares during the period. First Trust Advisors LP purchased a new position in shares of Fidelis Insurance during the second quarter worth approximately $169,000. Sei Investments Co. purchased a new position in shares of Fidelis Insurance during the first quarter worth approximately $200,000. Finally, Quadrant Capital Group LLC purchased a new position in shares of Fidelis Insurance during the third quarter worth approximately $193,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.