Fidelis Insurance Holdings Limited (NYSE:FIHL) Receives Consensus Recommendation of “Hold” from Analysts

Fidelis Insurance Holdings Limited (NYSE:FIHL) has earned an average recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $20.4286.

Several equities research analysts recently issued reports on FIHL shares. Zacks Research raised shares of Fidelis Insurance from a “strong sell” rating to a “hold” rating in a report on Thursday, September 11th. Evercore ISI reaffirmed a “mixed” rating on shares of Fidelis Insurance in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fidelis Insurance in a research report on Saturday, September 27th. Barclays boosted their price target on shares of Fidelis Insurance from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, July 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Fidelis Insurance from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, July 1st.

Hedge Funds Weigh In On Fidelis Insurance

Several institutional investors and hedge funds have recently bought and sold shares of FIHL. Cooperman Leon G grew its position in shares of Fidelis Insurance by 27.5% during the first quarter. Cooperman Leon G now owns 4,799,778 shares of the company’s stock valued at $77,756,000 after purchasing an additional 1,036,019 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Fidelis Insurance by 6.9% in the 1st quarter. American Century Companies Inc. now owns 3,825,159 shares of the company’s stock valued at $61,968,000 after buying an additional 248,141 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Fidelis Insurance by 4.5% during the first quarter. Wellington Management Group LLP now owns 3,386,797 shares of the company’s stock valued at $54,866,000 after acquiring an additional 146,116 shares in the last quarter. LSV Asset Management lifted its position in Fidelis Insurance by 23.3% during the 2nd quarter. LSV Asset Management now owns 3,119,180 shares of the company’s stock worth $51,716,000 after acquiring an additional 589,985 shares during the period. Finally, Loomis Sayles & Co. L P increased its stake in shares of Fidelis Insurance by 12.2% in the second quarter. Loomis Sayles & Co. L P now owns 1,303,167 shares of the company’s stock worth $21,607,000 after acquiring an additional 142,089 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Fidelis Insurance Stock Up 1.8%

Shares of FIHL stock opened at $18.12 on Wednesday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -44.19 and a beta of 0.28. Fidelis Insurance has a 12-month low of $14.17 and a 12-month high of $21.32. The firm has a fifty day moving average of $17.02 and a 200-day moving average of $16.60. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.36.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.24. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $604.62 million. Fidelis Insurance had a negative return on equity of 1.81% and a negative net margin of 1.70%. As a group, equities research analysts predict that Fidelis Insurance will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Tuesday, September 16th were given a dividend of $0.15 per share. This is a positive change from Fidelis Insurance’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.60 annualized dividend and a yield of 3.3%. Fidelis Insurance’s payout ratio is currently -146.34%.

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.