Fidelis Insurance (NYSE:FIHL) Receives Market Outperform Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Fidelis Insurance (NYSE:FIHL) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $24.00 price objective on the stock.

Several other equities research analysts have also recently commented on FIHL. JPMorgan Chase & Co. increased 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. Keefe, Bruyette & Woods raised their price target on shares of Fidelis Insurance from $22.00 to $24.00 and gave the company an outperform rating in a report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $18.44.

Fidelis Insurance Trading Up 2.6 %

NYSE:FIHL opened at $19.14 on Monday. Fidelis Insurance has a 52 week low of $11.55 and a 52 week high of $19.80. The stock has a market cap of $2.26 billion and a price-to-earnings ratio of 1.00. The company’s 50 day moving average price is $17.13 and its 200-day moving average price is $14.53. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.21.

Fidelis Insurance (NYSE:FIHL) last issued its earnings results on Thursday, February 29th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.74 by $0.41. The business had revenue of $553.70 million for the quarter, compared to the consensus estimate of $522.52 million. Fidelis Insurance had a return on equity of 20.23% and a net margin of 59.30%. On average, equities research analysts forecast that Fidelis Insurance will post 3.24 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Thursday, March 14th. Fidelis Insurance’s dividend payout ratio is 2.10%.

Institutional Investors Weigh In On Fidelis Insurance

A number of large investors have recently made changes to their positions in FIHL. Goldman Sachs Group Inc. bought a new position in shares of Fidelis Insurance in the 2nd quarter worth approximately $208,110,000. Pine Brook Road Advisors L.P. bought a new position in Fidelis Insurance in the fourth quarter worth approximately $107,116,000. Citadel Advisors LLC purchased a new position in shares of Fidelis Insurance during the 2nd quarter worth $49,553,000. Victory Capital Management Inc. bought a new stake in shares of Fidelis Insurance during the 3rd quarter valued at $15,784,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Fidelis Insurance during the 2nd quarter valued at $9,214,000. 81.99% of the stock is currently owned by institutional investors.

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.