Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Fidelis Insurance (NYSE:FIHL) Stock

Fidelis Insurance (NYSE:FIHL - Free Report) had its price objective hoisted by Keefe, Bruyette & Woods from $20.00 to $21.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on FIHL. Barclays dropped their target price on shares of Fidelis Insurance from $18.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. UBS Group boosted their price objective on shares of Fidelis Insurance from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Citigroup reiterated an "outperform" rating on shares of Fidelis Insurance in a research note on Friday, May 16th. JMP Securities boosted their price target on Fidelis Insurance from $24.00 to $27.00 and gave the company a "market outperform" rating in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. cut their target price on Fidelis Insurance from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $20.29.

Fidelis Insurance Stock Performance

FIHL stock traded down $0.06 during mid-day trading on Tuesday, reaching $16.19. 344,305 shares of the stock traded hands, compared to its average volume of 570,420. The firm has a market capitalization of $1.79 billion, a PE ratio of -124.53 and a beta of 0.27. The business has a 50-day moving average of $16.74 and a two-hundred day moving average of $16.41. Fidelis Insurance has a 52 week low of $14.17 and a 52 week high of $21.32. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.19.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.02. The firm had revenue of $658.40 million during the quarter, compared to the consensus estimate of $578.57 million. Fidelis Insurance had a positive return on equity of 0.20% and a negative net margin of 0.41%. As a group, equities analysts predict that Fidelis Insurance will post 3.12 EPS for the current fiscal year.

Fidelis Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 16th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Monday, June 16th. Fidelis Insurance's dividend payout ratio is -307.69%.

Institutional Investors Weigh In On Fidelis Insurance

Several hedge funds and other institutional investors have recently made changes to their positions in FIHL. Rhumbline Advisers boosted its stake in Fidelis Insurance by 5.1% in the fourth quarter. Rhumbline Advisers now owns 76,054 shares of the company's stock valued at $1,379,000 after acquiring an additional 3,689 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Fidelis Insurance by 10.7% in the 4th quarter. Principal Financial Group Inc. now owns 70,149 shares of the company's stock worth $1,272,000 after purchasing an additional 6,786 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Fidelis Insurance by 22.4% during the fourth quarter. New York State Common Retirement Fund now owns 15,311 shares of the company's stock worth $278,000 after purchasing an additional 2,800 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Fidelis Insurance during the fourth quarter worth $1,142,000. Finally, Callan Family Office LLC bought a new stake in Fidelis Insurance in the fourth quarter valued at about $363,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.