Fidelis Insurance (NYSE:FIHL) Shares Down 6%

Fidelis Insurance Holdings Limited (NYSE:FIHL)’s share price was down 6% during mid-day trading on Tuesday . The company traded as low as $17.66 and last traded at $18.82. Approximately 681,938 shares were traded during trading, an increase of 12% from the average daily volume of 606,553 shares. The stock had previously closed at $20.03.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on FIHL shares. Keefe, Bruyette & Woods upped their price target on shares of Fidelis Insurance from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. JMP Securities reiterated a “market outperform” rating and set 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 shares of Fidelis Insurance from $17.00 to $17.50 and gave the company a “neutral” rating in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.44.

Fidelis Insurance Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $2.23 billion and a P/E ratio of 0.97. The stock’s 50-day simple moving average is $18.02 and its two-hundred day simple moving average is $14.78.

Fidelis Insurance (NYSE:FIHL) last posted its quarterly earnings results on Thursday, February 29th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.41. The firm had revenue of $553.70 million for the quarter, compared to analysts’ expectations of $522.52 million. Fidelis Insurance had a net margin of 59.30% and a return on equity of 20.23%. Equities research analysts forecast that Fidelis Insurance Holdings Limited will post 3.24 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Thursday, March 14th. Fidelis Insurance’s payout ratio is presently 2.10%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Amalgamated Bank bought a new position in Fidelis Insurance during the 3rd quarter worth about $26,000. Prospector Partners LLC grew its holdings in Fidelis Insurance by 0.4% during the 4th quarter. Prospector Partners LLC now owns 564,593 shares of the company’s stock worth $7,153,000 after acquiring an additional 2,395 shares in the last quarter. New York State Common Retirement Fund bought a new position in Fidelis Insurance during the 3rd quarter worth about $53,000. Toronto Dominion Bank bought a new position in Fidelis Insurance during the 3rd quarter worth about $73,000. Finally, Boston Partners grew its holdings in Fidelis Insurance by 3.3% during the 4th quarter. Boston Partners now owns 227,795 shares of the company’s stock worth $2,886,000 after acquiring an additional 7,370 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

About Fidelis Insurance

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.