Fidelis Insurance (NYSE:FIHL) Stock Price Expected to Rise, JMP Securities Analyst Says

Fidelis Insurance (NYSE:FIHL) had its price objective raised by investment analysts at JMP Securities from $24.00 to $27.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price objective points to a potential upside of 53.54% from the company’s current price.

A number of other research firms have also weighed in on FIHL. Barclays decreased their target price on shares of Fidelis Insurance from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. reduced their price target on shares of Fidelis Insurance from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. UBS Group lifted their price target on shares of Fidelis Insurance from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Fidelis Insurance from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.14.

Fidelis Insurance Trading Up 2.4%

FIHL opened at $17.59 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68. The company’s 50 day simple moving average is $16.11 and its two-hundred day simple moving average is $17.01. Fidelis Insurance has a 1-year low of $14.17 and a 1-year high of $21.32. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 4.44 and a beta of 0.28.

Fidelis Insurance (NYSE:FIHL) last released its earnings results on Wednesday, May 14th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.02. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. The business had revenue of $658.40 million for the quarter, compared to analyst estimates of $578.57 million. Analysts expect that Fidelis Insurance will post 3.12 EPS for the current fiscal year.

Institutional Trading of Fidelis Insurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIHL. Zimmer Partners LP purchased a new stake in Fidelis Insurance in the fourth quarter valued at approximately $31,991,000. Citadel Advisors LLC raised its position in Fidelis Insurance by 2,922.7% in the fourth quarter. Citadel Advisors LLC now owns 1,569,863 shares of the company’s stock valued at $28,462,000 after purchasing an additional 1,517,927 shares during the period. LSV Asset Management acquired a new position in shares of Fidelis Insurance in the fourth quarter worth $24,435,000. Cooperman Leon G grew its stake in shares of Fidelis Insurance by 27.5% in the first quarter. Cooperman Leon G now owns 4,799,778 shares of the company’s stock worth $77,756,000 after acquiring an additional 1,036,019 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Fidelis Insurance in the first quarter worth $12,862,000. Hedge funds and other 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.