Fidelis Insurance (NYSE:FIHL) Shares Gap Down After Earnings Miss

Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report) gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $19.31, but opened at $18.25. Fidelis Insurance shares last traded at $18.08, with a volume of 181,413 shares traded.

The company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.01). Fidelis Insurance had a return on equity of 20.23% and a net margin of 59.30%. The business had revenue of $520.00 million during the quarter, compared to the consensus estimate of $585.88 million.

Fidelis Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, June 14th. This represents a $0.40 annualized dividend and a dividend yield of 2.16%. Fidelis Insurance's payout ratio is 2.10%.

Wall Street Analysts Forecast Growth

FIHL has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their target price on Fidelis Insurance from $22.00 to $24.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. JMP Securities restated a "market outperform" rating and issued a $24.00 price objective on shares of Fidelis Insurance in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their price objective on Fidelis Insurance from $17.00 to $17.50 and gave the company a "neutral" rating in a research report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fidelis Insurance presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.44.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Amalgamated Bank purchased a new stake in shares of Fidelis Insurance in the third quarter valued at approximately $26,000. New York State Common Retirement Fund purchased a new position in Fidelis Insurance during the 3rd quarter worth $53,000. Toronto Dominion Bank acquired a new stake in Fidelis Insurance in the third quarter worth about $73,000. Tower Research Capital LLC TRC boosted its stake in Fidelis Insurance by 2,976.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,675 shares of the company's stock worth $110,000 after purchasing an additional 8,393 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Fidelis Insurance in the third quarter worth $113,000. Institutional investors own 81.99% of the company's stock.

Fidelis Insurance Stock Performance

The firm has a 50-day moving average of $18.79 and a 200-day moving average of $15.06. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.18 billion and a price-to-earnings ratio of 0.97.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Limited, together with its subsidiaries, provides insurance and reinsurance products 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.