Fidelis Insurance (NYSE:FIHL) Trading Up 2.6% – Here’s Why

Fidelis Insurance Holdings Limited (NYSE:FIHL)’s stock price was up 2.6% on Thursday . The company traded as high as $25.1380 and last traded at $24.98. 405,029 shares changed hands during mid-day trading, an increase of 13% from the average daily volume of 358,382 shares. The stock had previously closed at $24.35.

Wall Street Analysts Forecast Growth

FIHL has been the topic of several research analyst reports. Barclays upped their target price on shares of Fidelis Insurance from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Weiss Ratings upgraded shares of Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, March 6th. Finally, UBS Group boosted their price objective on shares of Fidelis Insurance from $24.00 to $25.00 and gave the company a “buy” rating in a report on Monday, March 9th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $21.92.

Fidelis Insurance Price Performance

The stock has a market capitalization of $2.41 billion, a P/E ratio of 11.30 and a beta of 0.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a fifty day moving average price of $22.37 and a two-hundred day moving average price of $20.38.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.94 EPS for the quarter. The company had revenue of $610.60 million during the quarter. Fidelis Insurance had a return on equity of 8.62% and a net margin of 9.02%. As a group, analysts expect that Fidelis Insurance Holdings Limited will post 3.19 EPS for the current fiscal year.

Fidelis Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, June 15th. Fidelis Insurance’s payout ratio is currently 27.15%.

Institutional Investors Weigh In On Fidelis Insurance

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Focus Partners Wealth purchased a new position in shares of Fidelis Insurance in the third quarter worth approximately $77,000. Tower Research Capital LLC TRC increased its holdings 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 buying an additional 2,885 shares during the last quarter. First Trust Advisors LP purchased a new stake in Fidelis Insurance during the second quarter valued at approximately $169,000. Quadrant Capital Group LLC bought a new position in Fidelis Insurance in the third quarter worth approximately $193,000. Finally, Sei Investments Co. bought a new position in Fidelis Insurance in the first quarter worth approximately $200,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.