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

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 stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. JMP Securities increased their target price on shares of Fidelis Insurance from $24.00 to $27.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Citigroup reissued an "outperform" rating on shares of Fidelis Insurance in a research report on Friday, May 16th. Barclays increased their target price on shares of Fidelis Insurance from $16.00 to $17.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Fidelis Insurance from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.67.

Fidelis Insurance Price Performance

Shares of FIHL opened at $17.54 on Thursday. The company has a 50 day moving average price of $16.51 and a 200-day moving average price of $16.32. Fidelis Insurance has a fifty-two week low of $14.17 and a fifty-two week high of $21.32. The stock has a market capitalization of $1.94 billion, a PE ratio of -42.79 and a beta of 0.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 0.71.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.12 earnings per share for the quarter, topping 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 analysts' expectations of $604.62 million. Equities analysts predict that Fidelis Insurance will post 3.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. North Capital Inc. purchased a new position in shares of Fidelis Insurance in the second quarter worth $33,000. Garde Capital Inc. purchased a new position in shares of Fidelis Insurance in the first quarter worth $62,000. GAMMA Investing LLC raised 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 during the last quarter. Ameritas Investment Partners Inc. raised 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 during the last quarter. Finally, CWM LLC increased its stake 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 acquiring an additional 5,821 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

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.

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