Fidelis Insurance Holdings Limited (NYSE:FIHL) to Issue Quarterly Dividend of $0.10

Fidelis Insurance Holdings Limited (NYSE:FIHL) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Wednesday, March 12th will be given a dividend of 0.10 per share on Thursday, March 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Wednesday, March 12th.

Fidelis Insurance has a payout ratio of 10.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Fidelis Insurance to earn $3.81 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 10.5%.

Fidelis Insurance Stock Up 2.3 %

Fidelis Insurance stock opened at $15.04 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. Fidelis Insurance has a 12-month low of $14.17 and a 12-month high of $21.32. The firm’s fifty day moving average is $16.30 and its 200 day moving average is $17.71. The company has a market capitalization of $1.77 billion, a PE ratio of 3.80 and a beta of 0.61.

Fidelis Insurance (NYSE:FIHL) last announced 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). The business had revenue of $685.90 million for the quarter, compared to the consensus estimate of $661.52 million. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. As a group, sell-side analysts predict that Fidelis Insurance will post 3.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on FIHL. JPMorgan Chase & Co. reduced their target price on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. The Goldman Sachs Group reiterated a “sell” rating and issued a $16.00 target price (down previously from $21.00) on shares of Fidelis Insurance in a research note on Wednesday, January 8th. Barclays reduced their price target on shares of Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, February 20th. UBS Group increased their price target on shares of Fidelis Insurance from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.57.

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.