Keefe, Bruyette & Woods Boosts Fidelis Insurance (NYSE:FIHL) Price Target to $21.00

Fidelis Insurance (NYSE:FIHL - Free Report) had its target price raised by Keefe, Bruyette & Woods from $20.00 to $21.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

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

Fidelis Insurance Trading Up 1.5%

Shares of NYSE:FIHL traded up $0.25 on Tuesday, hitting $16.83. 703,396 shares of the company's stock were exchanged, compared to its average volume of 570,438. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -129.45 and a beta of 0.27. Fidelis Insurance has a 12 month low of $14.17 and a 12 month high of $21.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.68 and a quick ratio of 0.68. The business's 50 day simple moving average is $16.75 and its two-hundred day simple moving average is $16.42.

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

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 16th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Monday, June 16th. Fidelis Insurance's dividend payout ratio is currently -307.69%.

Institutional Investors Weigh In On Fidelis Insurance

Several institutional investors have recently added to or reduced their stakes in FIHL. Principal Financial Group Inc. increased its holdings in shares of Fidelis Insurance by 10.7% during the fourth quarter. Principal Financial Group Inc. now owns 70,149 shares of the company's stock valued at $1,272,000 after acquiring an additional 6,786 shares in the last quarter. Bank of America Corp DE grew its position in Fidelis Insurance by 9.5% during the 4th quarter. Bank of America Corp DE now owns 437,516 shares of the company's stock worth $7,932,000 after purchasing an additional 38,015 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Fidelis Insurance during the 4th quarter worth approximately $522,000. SG Americas Securities LLC increased its stake in Fidelis Insurance by 342.2% during the 1st quarter. SG Americas Securities LLC now owns 73,471 shares of the company's stock valued at $1,190,000 after purchasing an additional 56,857 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Fidelis Insurance by 31.0% in the fourth quarter. Ameriprise Financial Inc. now owns 119,039 shares of the company's stock worth $2,158,000 after buying an additional 28,152 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

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.