Fidelis Insurance Holdings Limited (NYSE:FIHL) Receives Average Recommendation of “Hold” from Brokerages

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) have been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $20.29.

A number of research firms recently commented on FIHL. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $16.00 price objective (down from $21.00) on shares of Fidelis Insurance in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods decreased their target price on Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. JPMorgan Chase & Co. dropped their price objective on shares of Fidelis Insurance from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday. UBS Group lifted their price target on Fidelis Insurance from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, Barclays reduced their target price on shares of Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, February 20th.

Hedge Funds Weigh In On Fidelis Insurance

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of Fidelis Insurance by 1,267.3% during the 1st quarter. GAMMA Investing LLC now owns 4,471 shares of the company’s stock valued at $72,000 after purchasing an additional 4,144 shares during the period. Wellington Management Group LLP boosted its position in shares of Fidelis Insurance by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 3,240,681 shares of the company’s stock valued at $58,754,000 after acquiring an additional 162,524 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Fidelis Insurance by 18.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 47,804 shares of the company’s stock worth $867,000 after acquiring an additional 7,300 shares during the period. Voloridge Investment Management LLC lifted its stake in Fidelis Insurance by 1,243.1% in the 4th quarter. Voloridge Investment Management LLC now owns 178,320 shares of the company’s stock worth $3,233,000 after purchasing an additional 165,043 shares in the last quarter. Finally, Zimmer Partners LP bought a new position in shares of Fidelis Insurance in the fourth quarter worth $31,991,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Trading Up 1.0 %

Shares of NYSE:FIHL opened at $15.07 on Wednesday. The business’s 50 day simple moving average is $15.70 and its 200 day simple moving average is $17.30. The company has a market capitalization of $1.68 billion, a P/E ratio of 3.80 and a beta of 0.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68. Fidelis Insurance has a 1 year low of $14.17 and a 1 year high of $21.32.

Fidelis Insurance (NYSE:FIHL) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($1.98). The company had revenue of $685.90 million for the quarter, compared to the consensus estimate of $661.52 million. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. On average, research analysts anticipate that Fidelis Insurance will post 3.12 EPS for the current fiscal year.

Fidelis Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.40 annualized dividend and a dividend yield of 2.66%. Fidelis Insurance’s payout ratio is 42.55%.

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.