Fidelis Insurance (NYSE:FIHL) Issues Quarterly Earnings Results

Fidelis Insurance (NYSE:FIHLGet Free Report) released its quarterly earnings data on Wednesday. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.19, FiscalAI reports. The business had revenue of $610.60 million during the quarter, compared to analyst estimates of $903.16 million. Fidelis Insurance had a return on equity of 8.62% and a net margin of 9.02%.

Fidelis Insurance Price Performance

Shares of NYSE:FIHL traded down $0.36 during midday trading on Wednesday, hitting $20.35. The company’s stock had a trading volume of 560,700 shares, compared to its average volume of 358,382. The business’s 50 day simple moving average is $19.78 and its 200 day simple moving average is $19.27. 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 has a market cap of $1.76 billion, a P/E ratio of 9.21 and a beta of 0.36. Fidelis Insurance has a 12-month low of $14.80 and a 12-month high of $21.50.

Fidelis Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, June 15th. Fidelis Insurance’s dividend payout ratio (DPR) is currently 27.15%.

Hedge Funds Weigh In On Fidelis Insurance

Hedge funds and other institutional investors have recently modified their holdings of the business. Focus Partners Wealth purchased a new position in shares of Fidelis Insurance in the third quarter worth about $77,000. Tower Research Capital LLC TRC lifted its stake 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 in the last quarter. First Trust Advisors LP purchased a new position in shares of Fidelis Insurance in the second quarter worth about $169,000. Quadrant Capital Group LLC purchased a new position in shares of Fidelis Insurance in the third quarter worth about $193,000. Finally, State of Wyoming purchased a new position in shares of Fidelis Insurance in the fourth quarter worth about $214,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on FIHL. UBS Group lifted their price target on Fidelis Insurance from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Wall Street Zen downgraded Fidelis Insurance from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Keefe, Bruyette & Woods boosted their price target on Fidelis Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, February 23rd. Weiss Ratings raised Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, March 6th. Finally, Barclays boosted their price target on Fidelis Insurance from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Fidelis Insurance currently has an average rating of “Hold” and a consensus target price of $22.64.

Check Out Our Latest Research Report on FIHL

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

About Fidelis Insurance

(Get Free Report)

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.

Read More

Earnings History for Fidelis Insurance (NYSE:FIHL)

Receive News & Ratings for Fidelis Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fidelis Insurance and related companies with MarketBeat.com's FREE daily email newsletter.