Evercore ISI Issues Positive Forecast for Fidelis Insurance (NYSE:FIHL) Stock Price

Key Points

• Evercore ISI has raised its price target for Fidelis Insurance (NYSE:FIHL) from $18.00 to $19.00, suggesting a potential upside of 3.29% from the current price.
• Several analysts have varying ratings for Fidelis Insurance, with four giving a Buy rating and a consensus target price averaging $20.43.
• Fidelis Insurance reported a revenue of $1.22 billion for the last quarter, significantly exceeding analysts' expectations of $604.62 million.

Fidelis Insurance (NYSE:FIHL - Get Free Report) had its price target hoisted by equities research analysts at Evercore ISI from $18.00 to $19.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "in-line" rating on the stock. Evercore ISI's price objective would suggest a potential upside of 3.29% from the stock's current price.

A number of other equities research analysts have also recently commented on the company. Keefe, Bruyette & Woods raised their target price on Fidelis Insurance from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Zacks Research upgraded Fidelis Insurance from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 11th. Finally, Barclays raised their target price on Fidelis Insurance from $16.00 to $17.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $20.43.

Fidelis Insurance Price Performance

Shares of NYSE:FIHL traded up $0.25 during trading on Wednesday, reaching $18.40. 159,369 shares of the company's stock traded hands, compared to its average volume of 633,485. Fidelis Insurance has a fifty-two week low of $14.17 and a fifty-two week high of $21.32. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.36. The firm has a market cap of $2.04 billion, a PE ratio of -44.87 and a beta of 0.26. The company has a 50-day simple moving average of $16.90 and a 200-day simple moving average of $16.54.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.24. Fidelis Insurance had a negative return on equity of 1.81% and a negative net margin of 1.70%.The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $604.62 million. As a group, analysts predict that Fidelis Insurance will post 3.12 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. North Capital Inc. purchased a new position in Fidelis Insurance in the 2nd quarter worth approximately $33,000. Garde Capital Inc. purchased a new position in Fidelis Insurance in the 1st quarter worth approximately $62,000. GAMMA Investing LLC lifted its stake in Fidelis Insurance by 1,267.3% in the 1st quarter. GAMMA Investing LLC now owns 4,471 shares of the company's stock worth $72,000 after purchasing an additional 4,144 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in Fidelis Insurance by 15.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,088 shares of the company's stock worth $101,000 after purchasing an additional 810 shares in the last quarter. Finally, CWM LLC lifted its stake in Fidelis Insurance by 444.4% in the 2nd quarter. CWM LLC now owns 7,131 shares of the company's stock worth $118,000 after purchasing an additional 5,821 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.

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