Fidelis Insurance (NYSE:FIHL) Stock Price Up 2.6% – Here’s Why

Fidelis Insurance Holdings Limited (NYSE:FIHL)’s stock price shot up 2.6% during trading on Thursday . The stock traded as high as $25.1380 and last traded at $24.98. Approximately 405,029 shares were traded during mid-day trading, an increase of 13% from the average session volume of 358,382 shares. The stock had previously closed at $24.35.

Wall Street Analyst Weigh In

FIHL has been the topic of a number of recent research reports. UBS Group raised their target price on Fidelis Insurance from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Barclays boosted their price target on Fidelis Insurance from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Finally, Weiss Ratings upgraded Fidelis Insurance from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, March 6th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.92.

Fidelis Insurance Price Performance

The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.35. The firm has a market cap of $2.41 billion, a PE ratio of 11.30 and a beta of 0.36. The firm’s fifty day simple moving average is $22.37 and its two-hundred day simple moving average is $20.38.

Fidelis Insurance (NYSE:FIHL) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.94 earnings per share for the quarter. The business had revenue of $610.60 million during the quarter. Fidelis Insurance had a net margin of 9.02% and a return on equity of 8.62%. As a group, research analysts expect that Fidelis Insurance Holdings Limited will post 3.19 EPS for the current year.

Fidelis Insurance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 15th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, June 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.4%. Fidelis Insurance’s payout ratio is 27.15%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Focus Partners Wealth purchased a new stake in Fidelis Insurance in the 3rd quarter worth $77,000. Tower Research Capital LLC TRC lifted its position in shares of Fidelis Insurance by 58.9% in the second quarter. Tower Research Capital LLC TRC now owns 7,786 shares of the company’s stock valued at $129,000 after acquiring an additional 2,885 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Fidelis Insurance in the second quarter valued at about $169,000. Sei Investments Co. bought a new position in shares of Fidelis Insurance in the first quarter worth about $200,000. Finally, Quadrant Capital Group LLC bought a new position in shares of Fidelis Insurance in the third quarter worth about $193,000. 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.