Fidelis Insurance (NYSE:FIHL) Price Target Raised to $21.00 at Barclays

Fidelis Insurance (NYSE:FIHL) had its price target upped by Barclays from $19.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. restated an “underweight” rating and set a $21.00 target price (up from $19.00) on shares of Fidelis Insurance in a research note on Wednesday, January 7th. Evercore set a $21.00 price objective on shares of Fidelis Insurance in a research note on Wednesday, January 7th. Weiss Ratings upgraded shares of Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, March 6th. UBS Group lifted their price objective on shares of Fidelis Insurance from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Fidelis Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.64.

Fidelis Insurance Stock Performance

NYSE FIHL opened at $19.70 on Wednesday. The firm has a 50-day moving average of $19.25 and a 200-day moving average of $18.84. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market cap of $1.90 billion, a PE ratio of 8.91 and a beta of 0.23. Fidelis Insurance has a 52-week low of $14.80 and a 52-week high of $20.50.

Fidelis Insurance (NYSE:FIHL) last posted its earnings results on Thursday, February 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.13. The company had revenue of $600.90 million during the quarter, compared to analysts’ expectations of $756.14 million. Fidelis Insurance had a net margin of 9.02% and a return on equity of 8.62%. On average, sell-side analysts anticipate that Fidelis Insurance will post 3.12 EPS for the current year.

Fidelis Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 16th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, March 16th. Fidelis Insurance’s payout ratio is 27.15%.

Fidelis Insurance declared that its board has approved a share buyback plan on Friday, February 20th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the company to buy up to 18% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Fidelis Insurance

Hedge funds have recently bought and sold shares of the company. Focus Partners Wealth bought a new position in Fidelis Insurance in the 3rd quarter valued at about $77,000. Tower Research Capital LLC TRC increased its holdings in Fidelis Insurance by 58.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,786 shares of the company’s stock valued at $129,000 after buying an additional 2,885 shares during the period. First Trust Advisors LP bought a new position in Fidelis Insurance in the 2nd quarter valued at about $169,000. Quadrant Capital Group LLC bought a new position in Fidelis Insurance in the 3rd quarter valued at about $193,000. Finally, Tyler Stone Wealth Management bought a new position in Fidelis Insurance in the 2nd quarter valued at about $195,000. 81.99% of the stock is owned by institutional investors.

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.