Fidelis Insurance Holdings Limited (NYSE:FIHL) Receives Average Rating of "Hold" 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%.

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report) have been given an average recommendation of "Hold" by the eight brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $20.6667.

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

Fidelis Insurance Stock Down 0.9%

FIHL opened at $17.45 on Friday. The company has a 50 day moving average of $16.42 and a 200 day moving average of $16.24. The company has a market cap of $1.93 billion, a PE ratio of -42.55 and a beta of 0.26. Fidelis Insurance has a 12 month low of $14.17 and a 12 month high of $21.32. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36.

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

Fidelis Insurance Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 16th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. 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%. Fidelis Insurance's payout ratio is currently -97.56%.

Institutional Investors Weigh In On Fidelis Insurance

Several large investors have recently added to or reduced their stakes in FIHL. Dimensional Fund Advisors LP grew its position in Fidelis Insurance by 3,511.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 539,783 shares of the company's stock worth $9,785,000 after buying an additional 524,835 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Fidelis Insurance by 17.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,356 shares of the company's stock valued at $370,000 after acquiring an additional 2,986 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Fidelis Insurance by 7.9% during the fourth quarter. Northern Trust Corp now owns 340,023 shares of the company's stock worth $6,165,000 after purchasing an additional 24,823 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Fidelis Insurance during the fourth quarter worth about $247,000. Finally, Jane Street Group LLC increased its position in shares of Fidelis Insurance by 17.5% in the fourth quarter. Jane Street Group LLC now owns 37,269 shares of the company's stock worth $676,000 after purchasing an additional 5,548 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

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.

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