Fidelis Insurance (NYSE:FIHL) Sets New 1-Year High – Here’s What Happened

Fidelis Insurance Holdings Limited (NYSE:FIHL)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $21.32 and last traded at $20.49, with a volume of 154771 shares changing hands. The stock had previously closed at $18.46.

Analyst Ratings Changes

Several brokerages recently issued reports on FIHL. The Goldman Sachs Group assumed coverage on shares of Fidelis Insurance in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $18.50 target price for the company. Keefe, Bruyette & Woods lifted their price objective on shares of Fidelis Insurance from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday. JMP Securities reissued a “market outperform” rating and issued a $24.00 price objective on shares of Fidelis Insurance in a research note on Friday, August 16th. Finally, Barclays began coverage on shares of Fidelis Insurance in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $21.00 target price on the stock. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Fidelis Insurance currently has an average rating of “Hold” and an average target price of $20.69.

Fidelis Insurance Stock Down 1.2 %

The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. The stock’s 50-day simple moving average is $17.92 and its 200-day simple moving average is $17.50. The firm has a market capitalization of $2.32 billion, a P/E ratio of 4.98 and a beta of -0.01.

Fidelis Insurance (NYSE:FIHL) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.15). The business had revenue of $547.10 million for the quarter, compared to analysts’ expectations of $582.19 million. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.49%. As a group, research analysts predict that Fidelis Insurance Holdings Limited will post 2.9 earnings per share for the current fiscal year.

Fidelis Insurance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, November 29th. Fidelis Insurance’s payout ratio is 10.10%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Martingale Asset Management L P raised its position in shares of Fidelis Insurance by 6.7% during the 3rd quarter. Martingale Asset Management L P now owns 127,593 shares of the company’s stock valued at $2,304,000 after buying an additional 7,997 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Fidelis Insurance in the 3rd quarter worth $2,068,000. The Manufacturers Life Insurance Company raised its position in Fidelis Insurance by 4.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 18,097 shares of the company’s stock worth $327,000 after purchasing an additional 770 shares during the period. Loomis Sayles & Co. L P raised its position in Fidelis Insurance by 12.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 655,565 shares of the company’s stock worth $11,839,000 after purchasing an additional 74,445 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Fidelis Insurance by 7.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 124,828 shares of the company’s stock worth $2,254,000 after purchasing an additional 8,992 shares during the period. 81.99% of the stock is owned by institutional investors.

About Fidelis Insurance

Fidelis Insurance Holdings Limited, a specialty insurer, provides insurance and reinsurance solutions 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.