Fidelis Insurance (NYSE:FIHL) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research has upgraded Fidelis Insurance from a "strong sell" rating to a "hold" rating, reflecting a shift in analysts' sentiment towards the stock.
• The stock's consensus target price has risen to $20.67, with multiple analysts adjusting their ratings and target prices positively in recent reports.
• Fidelis Insurance reported a quarterly earnings per share of $0.12, exceeding analyst estimates significantly, suggesting improved financial performance.

Fidelis Insurance (NYSE:FIHL - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Thursday, September 11th,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. JMP Securities increased their target price on shares of Fidelis Insurance from $24.00 to $27.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. 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 research note on Tuesday, July 1st. Citigroup reiterated an "outperform" rating on shares of Fidelis Insurance in a research note on Friday, May 16th. Finally, Barclays increased their price target on shares of Fidelis Insurance from $16.00 to $17.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $20.67.

Fidelis Insurance Trading Up 3.6%

Shares of FIHL traded up $0.61 on Thursday, reaching $17.71. 192,083 shares of the company's stock were exchanged, compared to its average volume of 640,727. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.96 billion, a P/E ratio of -43.22 and a beta of 0.26. The business has a 50 day moving average price of $16.59 and a two-hundred day moving average price of $16.37. Fidelis Insurance has a 12 month low of $14.17 and a 12 month high of $21.32.

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

Institutional Investors Weigh In On Fidelis Insurance

Several institutional investors have recently added to or reduced their stakes in FIHL. North Capital Inc. purchased a new stake in Fidelis Insurance during the second quarter valued at about $33,000. Garde Capital Inc. purchased a new stake in shares of Fidelis Insurance in the first quarter worth about $62,000. GAMMA Investing LLC lifted its holdings in shares of Fidelis Insurance by 1,267.3% in the first quarter. GAMMA Investing LLC now owns 4,471 shares of the company's stock worth $72,000 after buying an additional 4,144 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Fidelis Insurance by 15.3% in the second quarter. Ameritas Investment Partners Inc. now owns 6,088 shares of the company's stock worth $101,000 after buying an additional 810 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Fidelis Insurance by 444.4% in the second quarter. CWM LLC now owns 7,131 shares of the company's stock worth $118,000 after buying an additional 5,821 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.