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

Fidelis Insurance (NYSE:FIHL) had its target price boosted by equities research analysts at Barclays from $19.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 7.44% from the company’s previous close.

FIHL has been the topic of a number of other reports. Wall Street Zen downgraded shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. The Goldman Sachs Group set a $17.50 target price on Fidelis Insurance in a research report on Saturday, January 17th. Weiss Ratings raised Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, March 6th. Keefe, Bruyette & Woods boosted their target price on Fidelis Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Finally, Evercore set a $21.00 target price on Fidelis Insurance in a research report on Wednesday, January 7th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.64.

Fidelis Insurance Price Performance

NYSE:FIHL traded up $0.34 during trading hours on Wednesday, reaching $19.55. The stock had a trading volume of 85,839 shares, compared to its average volume of 429,129. The company has a 50 day moving average price of $19.23 and a two-hundred day moving average price of $18.83. Fidelis Insurance has a 52 week low of $14.80 and a 52 week high of $20.50. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market capitalization of $1.89 billion, a PE ratio of 8.84 and a beta of 0.23.

Fidelis Insurance (NYSE:FIHL) last posted its earnings results on Thursday, February 26th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.13. Fidelis Insurance had a net margin of 9.02% and a return on equity of 8.62%. The firm had revenue of $600.90 million for the quarter, compared to the consensus estimate of $756.14 million. As a group, sell-side analysts anticipate that Fidelis Insurance will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance declared that its Board of Directors has approved a stock buyback plan on Friday, February 20th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 18% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Fidelis Insurance

Hedge funds have recently bought and sold shares of the business. Focus Partners Wealth bought a new position in Fidelis Insurance in the 3rd quarter valued at $77,000. Tower Research Capital LLC TRC grew its stake in Fidelis Insurance by 58.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,786 shares of the company’s stock worth $129,000 after acquiring an additional 2,885 shares in the last quarter. First Trust Advisors LP bought a new position in Fidelis Insurance in the 2nd quarter worth about $169,000. Quadrant Capital Group LLC bought a new position in Fidelis Insurance in the 3rd quarter worth about $193,000. Finally, Tyler Stone Wealth Management bought a new position in Fidelis Insurance in the 2nd quarter worth about $195,000. Institutional investors own 81.99% of the company’s stock.

About Fidelis Insurance

Fidelis Insurance Holdings Ltd is a Bermuda?incorporated specialty insurer and reinsurer that underwrites a broad range of liability and property risks. Founded in 2015, the company completed its initial public offering on the New York Stock Exchange in 2016 under the ticker FIHL. Fidelis focuses on providing tailored solutions for complex risks that traditional insurers may find difficult to accommodate, leveraging data analytics and underwriting expertise to structure policies across diverse industry segments.

The company’s product portfolio spans casualty lines—including general liability, excess and umbrella, professional indemnity, and management liability—alongside property, marine, energy and specialty programs.