Barclays Begins Coverage on Fidelis Insurance (NYSE:FIHL)

Barclays began coverage on shares of Fidelis Insurance (NYSE:FIHL) in a research report sent to investors on Wednesday, Marketbeat.com reports. The brokerage issued an equal weight rating and a $21.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. JMP Securities reiterated a market outperform rating and set a $24.00 target price on shares of Fidelis Insurance in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their price objective on Fidelis Insurance from $18.50 to $20.00 and gave the company a neutral rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods restated an outperform rating and set a $24.00 target price on shares of Fidelis Insurance in a research note on Friday, August 16th. UBS Group dropped their price target on shares of Fidelis Insurance from $22.50 to $22.00 and set a buy rating on the stock in a research note on Tuesday, May 14th. Finally, Evercore ISI assumed coverage on shares of Fidelis Insurance in a report on Wednesday, July 17th. They issued an inline rating and a $19.00 target price for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $20.13.

Fidelis Insurance Stock Performance

Shares of FIHL opened at $18.26 on Wednesday. The stock has a 50-day simple moving average of $17.52 and a 200-day simple moving average of $17.56. The stock has a market capitalization of $2.15 billion, a PE ratio of 4.43 and a beta of -0.10. Fidelis Insurance has a 1 year low of $11.55 and a 1 year high of $20.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.15). Fidelis Insurance had a return on equity of 15.67% and a net margin of 20.96%. The firm had revenue of $547.10 million during the quarter, compared to analysts’ expectations of $582.19 million. On average, analysts predict that Fidelis Insurance will post 2.94 earnings per share for the current fiscal year.

Fidelis Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, September 16th. Fidelis Insurance’s dividend payout ratio is currently 9.71%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Fidelis Insurance by 227.4% during the first quarter. Vanguard Group Inc. now owns 562,570 shares of the company’s stock worth $10,959,000 after buying an additional 390,754 shares during the last quarter. Boston Partners raised its stake in shares of Fidelis Insurance by 213.7% during the first quarter. Boston Partners now owns 714,683 shares of the company’s stock worth $13,922,000 after purchasing an additional 486,888 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Fidelis Insurance in the 1st quarter valued at $1,287,000. Quadrature Capital Ltd boosted its holdings in shares of Fidelis Insurance by 125.0% in the first quarter. Quadrature Capital Ltd now owns 65,639 shares of the company’s stock valued at $1,279,000 after acquiring an additional 36,464 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Fidelis Insurance during the second quarter worth about $2,381,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Fidelis Insurance Company Profile

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.