Fidelis Insurance (NYSE:FIHL) Hits New 52-Week High – Here’s Why

Fidelis Insurance Holdings Limited (NYSE:FIHL) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $21.32 and last traded at $20.49, with a volume of 154771 shares trading hands. The stock had previously closed at $18.46.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barclays assumed coverage on Fidelis Insurance in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $21.00 price target for the company. Evercore ISI assumed coverage on Fidelis Insurance in a report on Wednesday, July 17th. They issued an “inline” rating and a $19.00 price target for the company. JMP Securities reissued a “market outperform” rating and issued a $24.00 price target on shares of Fidelis Insurance in a report on Friday, August 16th. The Goldman Sachs Group started coverage on Fidelis Insurance in a report on Tuesday, September 17th. They issued a “neutral” rating and a $18.50 price target for the company. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Fidelis Insurance in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.44.

Fidelis Insurance Stock Performance

The firm has a fifty day moving average of $17.89 and a 200-day moving average of $17.48. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 5.35 and a beta of -0.01. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18.

Fidelis Insurance (NYSE:FIHL) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.15). The company had revenue of $547.10 million for the quarter, compared to analysts’ expectations of $582.19 million. Fidelis Insurance had a return on equity of 15.67% and a net margin of 20.96%. As a group, sell-side analysts anticipate that Fidelis Insurance Holdings Limited will post 2.9 EPS for the current year.

Fidelis Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, November 29th. Fidelis Insurance’s payout ratio is 10.47%.

Hedge Funds Weigh In On Fidelis Insurance

Several hedge funds have recently bought and sold shares of the stock. Loomis Sayles & Co. L P increased its position in Fidelis Insurance by 12.8% during the third quarter. Loomis Sayles & Co. L P now owns 655,565 shares of the company’s stock worth $11,839,000 after buying an additional 74,445 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Fidelis Insurance by 7.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 124,828 shares of the company’s stock valued at $2,254,000 after purchasing an additional 8,992 shares during the period. Foundry Partners LLC purchased a new stake in shares of Fidelis Insurance in the third quarter valued at $5,065,000. Intech Investment Management LLC purchased a new stake in shares of Fidelis Insurance in the third quarter valued at $269,000. Finally, Empowered Funds LLC purchased a new stake in shares of Fidelis Insurance in the third quarter valued at $6,424,000. 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.