Fidelis Insurance (NYSE:FIHL) Shares Down 6%

Fidelis Insurance Holdings Limited (NYSE:FIHL) traded down 6% on Tuesday . The stock traded as low as $17.66 and last traded at $18.82. 681,938 shares traded hands during trading, an increase of 12% from the average session volume of 606,553 shares. The stock had previously closed at $20.03.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Fidelis Insurance from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. raised their price target on Fidelis Insurance from $17.00 to $17.50 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 price target on shares of Fidelis Insurance in a research report on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.44.

Fidelis Insurance Stock Down 5.6 %

The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $18.02 and a two-hundred day simple moving average of $14.78. The company has a market capitalization of $2.23 billion and a price-to-earnings ratio of 0.97.

Fidelis Insurance (NYSE:FIHL) last issued its earnings results on Thursday, February 29th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.74 by $0.41. The company had revenue of $553.70 million during the quarter, compared to analysts’ expectations of $522.52 million. Fidelis Insurance had a net margin of 59.30% and a return on equity of 20.23%. Equities analysts expect that Fidelis Insurance Holdings Limited will post 3.24 EPS for the current year.

Fidelis Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Thursday, March 14th. Fidelis Insurance’s payout ratio is presently 2.10%.

Institutional Investors Weigh In On Fidelis Insurance

Several institutional investors and hedge funds have recently added to or reduced their stakes in FIHL. Goldman Sachs Group Inc. grew its position in shares of Fidelis Insurance by 0.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 15,360,508 shares of the company’s stock worth $194,618,000 after purchasing an additional 131,657 shares in the last quarter. Pine Brook Road Advisors L.P. acquired a new stake in Fidelis Insurance in the fourth quarter valued at approximately $107,116,000. American Century Companies Inc. boosted its position in Fidelis Insurance by 2.3% in the third quarter. American Century Companies Inc. now owns 2,097,953 shares of the company’s stock valued at $30,798,000 after buying an additional 47,528 shares in the last quarter. Victory Capital Management Inc. boosted its position in Fidelis Insurance by 29.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,392,690 shares of the company’s stock valued at $17,645,000 after buying an additional 317,510 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Fidelis Insurance by 20.4% in the fourth quarter. Russell Investments Group Ltd. now owns 815,174 shares of the company’s stock valued at $10,328,000 after buying an additional 138,295 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

About Fidelis Insurance

Fidelis Insurance Holdings Limited, together with its subsidiaries, provides insurance and reinsurance products 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.