Fidelis Insurance (NYSE:FIHL) Price Target Cut to $23.00 by Analysts at Keefe, Bruyette & Woods

Fidelis Insurance (NYSE:FIHL) had its target price decreased by Keefe, Bruyette & Woods from $24.00 to $23.00 in a research report sent to investors on Friday, MarketBeat reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Several other analysts also recently issued reports on the company. Barclays boosted their price objective on Fidelis Insurance from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Zacks Research raised shares of Fidelis Insurance from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Fidelis Insurance in a research report on Wednesday, October 8th. Finally, Evercore ISI raised their price objective on shares of Fidelis Insurance from $19.00 to $20.00 and gave the stock an “in-line” rating in a research note on Thursday. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.14.

Fidelis Insurance Price Performance

Shares of NYSE:FIHL traded down $0.31 on Friday, reaching $18.37. 498,459 shares of the company traded hands, compared to its average volume of 411,316. The stock has a market capitalization of $2.03 billion, a PE ratio of -367.38 and a beta of 0.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.71. The company’s 50 day moving average is $18.03 and its 200-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 issued its earnings results on Wednesday, November 12th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. The business had revenue of $797.50 million for the quarter, compared to analysts’ expectations of $676.79 million. Fidelis Insurance had a negative return on equity of 0.95% and a negative net margin of 0.56%. As a group, analysts anticipate that Fidelis Insurance will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Wednesday, December 10th will be issued 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 dividend payout ratio (DPR) is currently -1,200.00%.

Institutional Investors Weigh In On Fidelis Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in shares of Fidelis Insurance by 150.3% during the 3rd quarter. Creative Planning now owns 171,245 shares of the company’s stock valued at $3,108,000 after buying an additional 102,834 shares during the period. Raymond James Financial Inc. raised its holdings in shares of Fidelis Insurance by 22.7% during the third quarter. Raymond James Financial Inc. now owns 272,203 shares of the company’s stock worth $4,940,000 after acquiring an additional 50,285 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in Fidelis Insurance by 24.3% during the third quarter. Balyasny Asset Management L.P. now owns 960,663 shares of the company’s stock valued at $17,436,000 after purchasing an additional 187,899 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in Fidelis Insurance by 3.1% in the third quarter. Bridgeway Capital Management LLC now owns 758,676 shares of the company’s stock valued at $13,770,000 after purchasing an additional 22,897 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Fidelis Insurance in the 3rd quarter worth about $349,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Company Profile

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.