Fidelis Insurance (NYSE:FIHL) Price Target Raised to $25.00

Fidelis Insurance (NYSE:FIHL) had its price objective upped by UBS Group from $24.00 to $25.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on FIHL. The Goldman Sachs Group set a $17.50 target price on shares of Fidelis Insurance in a research report on Saturday, January 17th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $21.00 price target (up from $19.00) on shares of Fidelis Insurance in a research report on Wednesday, January 7th. Wall Street Zen downgraded shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Keefe, Bruyette & Woods increased their target price on shares of Fidelis Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings raised Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.36.

Fidelis Insurance Price Performance

Shares of NYSE:FIHL opened at $18.75 on Monday. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 8.48 and a beta of 0.25. The business has a 50 day moving average price of $19.18 and a 200 day moving average price of $18.61. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.35. Fidelis Insurance has a twelve month low of $14.40 and a twelve month high of $20.50.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.96 by $0.13. Fidelis Insurance had a return on equity of 8.62% and a net margin of 9.02%.The company had revenue of $600.90 million for the quarter, compared to the consensus estimate of $756.14 million. Research analysts predict that Fidelis Insurance will post 3.12 earnings per share for the current year.

Fidelis Insurance declared that its board has initiated a stock buyback program on Friday, February 20th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to buy up to 18% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 16th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.60 dividend on an annualized basis and a yield of 3.2%. Fidelis Insurance’s payout ratio is presently 27.15%.

Institutional Investors Weigh In On Fidelis Insurance

A number of institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV bought a new stake in shares of Fidelis Insurance in the 4th quarter valued at approximately $216,000. Empowered Funds LLC lifted its position in shares of Fidelis Insurance by 3.6% during the 4th quarter. Empowered Funds LLC now owns 483,245 shares of the company’s stock worth $9,457,000 after buying an additional 16,569 shares during the period. XTX Topco Ltd acquired a new stake in Fidelis Insurance in the 4th quarter valued at $2,529,000. Voloridge Investment Management LLC boosted its stake in Fidelis Insurance by 246.7% in the 4th quarter. Voloridge Investment Management LLC now owns 260,498 shares of the company’s stock valued at $5,098,000 after buying an additional 185,365 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in Fidelis Insurance in the fourth quarter valued at $1,067,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Ltd is a Bermuda‐incorporated specialty insurer and reinsurer that underwrites a broad range of liability and property risks. Founded in 2015, the company completed its initial public offering on the New York Stock Exchange in 2016 under the ticker FIHL. Fidelis focuses on providing tailored solutions for complex risks that traditional insurers may find difficult to accommodate, leveraging data analytics and underwriting expertise to structure policies across diverse industry segments.

The company’s product portfolio spans casualty lines—including general liability, excess and umbrella, professional indemnity, and management liability—alongside property, marine, energy and specialty programs.