Analysts Set Fidelis Insurance Holdings Limited (NYSE:FIHL) Target Price at $20.57

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) have earned an average rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $20.57.

A number of equities research analysts have commented on the company. The Goldman Sachs Group reissued a “sell” rating and issued a $16.00 target price (down previously from $21.00) on shares of Fidelis Insurance in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Barclays decreased their price target on Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 20th. UBS Group raised their price target on Fidelis Insurance from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Finally, Keefe, Bruyette & Woods reduced their price objective on Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th.

Fidelis Insurance Price Performance

Shares of NYSE FIHL opened at $15.59 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a fifty day moving average price of $15.88 and a 200 day moving average price of $17.49. Fidelis Insurance has a 1-year low of $14.17 and a 1-year high of $21.32. The company has a market cap of $1.74 billion, a PE ratio of 3.94 and a beta of 0.61.

Fidelis Insurance (NYSE:FIHL) last released its earnings results on Tuesday, February 25th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($1.98). Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. The business had revenue of $685.90 million during the quarter, compared to analyst estimates of $661.52 million. Sell-side analysts forecast that Fidelis Insurance will post 3.12 EPS for the current year.

Fidelis Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Wednesday, March 12th. Fidelis Insurance’s dividend payout ratio is presently 42.55%.

Hedge Funds Weigh In On Fidelis Insurance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. purchased a new position in Fidelis Insurance in the 3rd quarter worth approximately $1,144,000. Empowered Funds LLC purchased a new position in Fidelis Insurance in the 3rd quarter worth approximately $6,424,000. Barclays PLC boosted its stake in shares of Fidelis Insurance by 306.7% during the 3rd quarter. Barclays PLC now owns 68,184 shares of the company’s stock valued at $1,231,000 after buying an additional 51,419 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Fidelis Insurance during the 3rd quarter valued at approximately $732,000. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Fidelis Insurance during the 4th quarter valued at approximately $1,008,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

About Fidelis Insurance

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.