Fidelis Insurance (NYSE:FIHL) Given New $20.00 Price Target at Evercore ISI

Fidelis Insurance (NYSE:FIHL) had its price target lifted by Evercore ISI from $19.00 to $20.00 in a research note released on Thursday morning,Benzinga reports. They currently have an in-line rating on the stock.

Several other research firms have also recently weighed in on FIHL. Zacks Research raised Fidelis Insurance from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 11th. Barclays increased their price target on shares of Fidelis Insurance from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Fidelis Insurance in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $21.14.

Fidelis Insurance Stock Down 1.7%

Shares of NYSE FIHL traded down $0.31 during mid-day trading on Thursday, reaching $18.37. 498,459 shares of the company traded hands, compared to its average volume of 411,316. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $2.03 billion, a PE ratio of -367.38 and a beta of 0.27. The company’s fifty day moving average is $18.03 and its two-hundred day moving average is $17.09. Fidelis Insurance has a fifty-two week low of $14.17 and a fifty-two week high of $20.85.

Fidelis Insurance (NYSE:FIHL) last posted its earnings results on Wednesday, November 12th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.02. The firm had revenue of $797.50 million during the quarter, compared to analyst estimates of $676.79 million. Fidelis Insurance had a negative return on equity of 0.95% and a negative net margin of 0.56%. On average, analysts expect that Fidelis Insurance will post 3.12 earnings per share for the current year.

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 10th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, December 10th. Fidelis Insurance’s payout ratio is -146.34%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in Fidelis Insurance by 8.8% during the first quarter. Principal Financial Group Inc. now owns 76,356 shares of the company’s stock valued at $1,237,000 after purchasing an additional 6,207 shares in the last quarter. Foundry Partners LLC lifted its position in shares of Fidelis Insurance by 1.4% during the 1st quarter. Foundry Partners LLC now owns 395,946 shares of the company’s stock worth $6,414,000 after buying an additional 5,356 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Fidelis Insurance in the 1st quarter valued at $425,000. Knights of Columbus Asset Advisors LLC boosted its stake in Fidelis Insurance by 2.7% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 74,704 shares of the company’s stock valued at $1,210,000 after buying an additional 1,991 shares in the last quarter. Finally, XTX Topco Ltd grew its position in Fidelis Insurance by 34.0% in the first quarter. XTX Topco Ltd now owns 20,469 shares of the company’s stock valued at $332,000 after acquiring an additional 5,193 shares during the period. Institutional investors own 81.99% of the company’s stock.

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.