UBS Group Forecasts Strong Price Appreciation for Fidelis Insurance (NYSE:FIHL) Stock

Fidelis Insurance (NYSE:FIHL) had its price target upped by analysts at UBS Group from $23.00 to $25.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 66.28% from the stock’s previous close.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $16.00 price target (down from $21.00) on shares of Fidelis Insurance in a report on Wednesday, January 8th. Keefe, Bruyette & Woods cut their price target on Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Barclays cut their price target on Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating for the company in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their price target on Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Fidelis Insurance presently has an average rating of “Hold” and an average price target of $20.57.

Fidelis Insurance Stock Performance

NYSE:FIHL opened at $15.04 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 business has a fifty day simple moving average of $16.30 and a two-hundred day simple moving average of $17.71. Fidelis Insurance has a 1 year low of $14.17 and a 1 year high of $21.32. The company has a market capitalization of $1.77 billion, a P/E ratio of 3.80 and a beta of 0.62.

Fidelis Insurance (NYSE:FIHL) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($1.98). Fidelis Insurance had a return on equity of 15.27% and a net margin of 20.17%. The company had revenue of $685.90 million during the quarter, compared to the consensus estimate of $661.52 million. On average, analysts expect that Fidelis Insurance will post 3.12 earnings per share for the current year.

Institutional Investors Weigh In On Fidelis Insurance

Several hedge funds have recently added to or reduced their stakes in FIHL. Principal Financial Group Inc. bought a new stake in Fidelis Insurance during the third quarter worth about $1,144,000. Summit Global Investments purchased a new position in shares of Fidelis Insurance in the third quarter worth about $238,000. Empowered Funds LLC purchased a new position in shares of Fidelis Insurance in the third quarter worth about $6,424,000. Intech Investment Management LLC purchased a new position in shares of Fidelis Insurance in the third quarter worth about $269,000. Finally, Foundry Partners LLC purchased a new position in shares of Fidelis Insurance in the third quarter worth about $5,065,000. 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.