Fidelis Insurance (NYSE:FIHL - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.24, Zacks reports. Fidelis Insurance had a negative return on equity of 1.81% and a negative net margin of 1.70%.The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $604.62 million.
Fidelis Insurance Price Performance
Shares of Fidelis Insurance stock traded up $0.2120 during trading on Tuesday, hitting $17.2220. 333,142 shares of the company's stock traded hands, compared to its average volume of 649,964. The company has a market cap of $1.91 billion, a PE ratio of -41.98 and a beta of 0.25. The firm's fifty day moving average price is $16.11 and its 200 day moving average price is $16.15. Fidelis Insurance has a twelve month low of $14.17 and a twelve month high of $21.32. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.71.
Institutional Investors Weigh In On Fidelis Insurance
A number of institutional investors have recently added to or reduced their stakes in FIHL. Tower Research Capital LLC TRC lifted its position in shares of Fidelis Insurance by 58.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,786 shares of the company's stock worth $129,000 after buying an additional 2,885 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Fidelis Insurance by 11.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,671 shares of the company's stock worth $542,000 after acquiring an additional 3,294 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Fidelis Insurance by 20.4% during the second quarter. The Manufacturers Life Insurance Company now owns 20,161 shares of the company's stock valued at $334,000 after acquiring an additional 3,422 shares during the period. Royal Bank of Canada boosted its stake in shares of Fidelis Insurance by 62.1% in the 1st quarter. Royal Bank of Canada now owns 15,988 shares of the company's stock valued at $258,000 after purchasing an additional 6,124 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Fidelis Insurance in the 2nd quarter worth about $169,000. 81.99% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
FIHL has been the subject of several recent analyst reports. Citigroup restated an "outperform" rating on shares of Fidelis Insurance in a research note on Friday, May 16th. JMP Securities increased their price objective 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. Barclays boosted their target price on shares of Fidelis Insurance from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods increased their price target on shares of Fidelis Insurance from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Finally, Zacks Research lowered shares of Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 13th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $20.67.
Check Out Our Latest Research Report on FIHL
About Fidelis Insurance
(
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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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