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

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $20.61 and last traded at $20.6350, with a volume of 40213 shares changing hands. The stock had previously closed at $20.20.

Wall Street Analyst Weigh In

FIHL has been the topic of a number of research analyst reports. Evercore set a $21.00 target price on shares of Fidelis Insurance in a report on Wednesday, January 7th. UBS Group upped their price target on shares of Fidelis Insurance from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Wall Street Zen cut shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. The Goldman Sachs Group set a $17.50 price target on shares of Fidelis Insurance in a report on Saturday, January 17th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $21.00 price target (up from $19.00) on shares of Fidelis Insurance in a report on Wednesday, January 7th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.64.

Fidelis Insurance Stock Performance

The stock has a market capitalization of $2.03 billion, a P/E ratio of 9.49 and a beta of 0.23. 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 company’s fifty day simple moving average is $19.35 and its two-hundred day simple moving average is $18.94.

Fidelis Insurance (NYSE:FIHL) last released its quarterly earnings results on Thursday, February 26th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.13. The firm had revenue of $600.90 million for 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%. As a group, equities analysts forecast that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current year.

Fidelis Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 16th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, March 16th. Fidelis Insurance’s dividend payout ratio is presently 27.15%.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FIHL. Royal Bank of Canada grew its position in shares of Fidelis Insurance by 62.1% during the 1st quarter. Royal Bank of Canada now owns 15,988 shares of the company’s stock worth $258,000 after purchasing an additional 6,124 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Fidelis Insurance by 41.2% during the 1st quarter. AQR Capital Management LLC now owns 74,025 shares of the company’s stock worth $1,199,000 after purchasing an additional 21,590 shares in the last quarter. Millennium Management LLC grew its position in shares of Fidelis Insurance by 4.0% during the 1st quarter. Millennium Management LLC now owns 859,192 shares of the company’s stock worth $13,919,000 after purchasing an additional 33,420 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Fidelis Insurance by 55.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 896,089 shares of the company’s stock worth $14,517,000 after purchasing an additional 320,242 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Fidelis Insurance by 177.3% during the 1st quarter. Jane Street Group LLC now owns 103,332 shares of the company’s stock worth $1,674,000 after purchasing an additional 66,063 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

About Fidelis Insurance

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.