Fidelis Insurance Holdings Limited (NYSE:FIHL) Receives $20.67 Consensus Price Target from Brokerages

Key Points

• Fidelis Insurance Holdings Limited (NYSE:FIHL) has received an average rating of "Hold" from eight brokerages, with varying recommendations including two sells, two holds, and four buys.
• The company recently reported $0.12 earnings per share for the quarter, significantly beating analysts' expectations of ($0.12) by $0.24, with revenue reaching $1.22 billion compared to forecasts of $604.62 million.
• Fidelis Insurance raised its quarterly dividend from $0.10 to $0.15, with the ex-dividend date set for September 16th, resulting in an annualized yield of 3.4% based on a payout ratio of -97.56%.

Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report) has received a consensus recommendation of "Hold" from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $20.6667.

Several analysts have issued reports on FIHL shares. Zacks Research lowered shares of Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 13th. Barclays upped their target price on shares of Fidelis Insurance from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. JMP Securities lifted their price target on Fidelis Insurance from $24.00 to $27.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Keefe, Bruyette & Woods upped their price objective on Fidelis Insurance from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Finally, Citigroup reiterated an "outperform" rating on shares of Fidelis Insurance in a research note on Friday, May 16th.

Institutional Trading of Fidelis Insurance

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Fidelis Insurance by 2.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,177 shares of the company's stock valued at $529,000 after acquiring an additional 661 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Fidelis Insurance by 15.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,088 shares of the company's stock valued at $101,000 after purchasing an additional 810 shares during the period. Advisory Services Network LLC grew its position in shares of Fidelis Insurance by 2.7% during the 2nd quarter. Advisory Services Network LLC now owns 33,472 shares of the company's stock worth $506,000 after purchasing an additional 882 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Fidelis Insurance by 1.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 60,344 shares of the company's stock worth $1,001,000 after purchasing an additional 998 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Fidelis Insurance by 0.3% during the second quarter. Empowered Funds LLC now owns 443,779 shares of the company's stock worth $7,358,000 after purchasing an additional 1,209 shares during the period. Institutional investors own 81.99% of the company's stock.

Fidelis Insurance Stock Up 2.1%

NYSE FIHL traded up $0.36 during trading hours on Friday, hitting $17.42. 446,438 shares of the company traded hands, compared to its average volume of 624,977. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 0.71. The business's 50-day moving average is $16.49 and its 200-day moving average is $16.29. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -42.49 and a beta of 0.26. Fidelis Insurance has a twelve month low of $14.17 and a twelve month high of $21.32.

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

Fidelis Insurance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 16th will be issued a $0.15 dividend. This is an increase from Fidelis Insurance's previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 16th. Fidelis Insurance's dividend payout ratio is presently -97.56%.

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.