Fidelis Insurance (NYSE:FIHL) Hits New 12-Month High – Should You Buy?

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) hit a new 52-week high during trading on Thursday . The company traded as high as $21.22 and last traded at $21.1750, with a volume of 52529 shares. The stock had previously closed at $20.56.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FIHL. UBS Group lifted their price target 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. Barclays lifted their price target on shares of Fidelis Insurance from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. The Goldman Sachs Group set a $17.50 price target on shares of Fidelis Insurance in a research note on Saturday, January 17th. 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. Finally, Wall Street Zen lowered shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Fidelis Insurance presently has an average rating of “Hold” and a consensus target price of $22.64.

Fidelis Insurance Stock Performance

The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.06 billion, a PE ratio of 9.66 and a beta of 0.23. The business’s fifty day moving average is $19.47 and its 200-day moving average is $19.03.

Fidelis Insurance (NYSE:FIHL) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $756.14 million. Fidelis Insurance had a net margin of 9.02% and a return on equity of 8.62%. As a group, research analysts predict that Fidelis Insurance Holdings Limited will post 3.19 EPS for the current fiscal year.

Fidelis Insurance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 16th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.8%. Fidelis Insurance’s dividend payout ratio (DPR) is presently 27.15%.

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

Hedge Funds Weigh In On Fidelis Insurance

Institutional investors and hedge funds have recently made changes to their positions in the business. Focus Partners Wealth purchased a new position in shares of Fidelis Insurance in the third quarter worth approximately $77,000. Tower Research Capital LLC TRC boosted its holdings in shares of Fidelis Insurance by 58.9% in the second quarter. Tower Research Capital LLC TRC now owns 7,786 shares of the company’s stock worth $129,000 after buying an additional 2,885 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Fidelis Insurance in the second quarter worth approximately $169,000. Quadrant Capital Group LLC purchased a new position in Fidelis Insurance during the third quarter valued at approximately $193,000. Finally, State of Wyoming purchased a new position in Fidelis Insurance during the fourth quarter valued at approximately $214,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.