Fidelis Insurance (NYSE:FIHL) Sets New 52-Week High After Analyst Upgrade

Fidelis Insurance Holdings Limited (NYSE:FIHL)’s share price hit a new 52-week high during trading on Tuesday after Keefe, Bruyette & Woods raised their price target on the stock from $24.00 to $26.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Fidelis Insurance traded as high as $20.50 and last traded at $20.07, with a volume of 528439 shares traded. The stock had previously closed at $20.04.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $21.00 price target (up from $19.00) on shares of Fidelis Insurance in a report on Wednesday, January 7th. UBS Group lifted their price objective on shares of Fidelis Insurance from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. The Goldman Sachs Group set a $17.50 target price on Fidelis Insurance in a report on Saturday, January 17th. Wall Street Zen cut Fidelis Insurance from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fidelis Insurance in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fidelis Insurance currently has a consensus rating of “Hold” and a consensus target price of $22.21.

Institutional Trading of Fidelis Insurance

Several institutional investors and hedge funds have recently made changes to their positions in FIHL. Royal Bank of Canada boosted its position in shares of Fidelis Insurance by 62.1% in the 1st quarter. Royal Bank of Canada now owns 15,988 shares of the company’s stock valued at $258,000 after purchasing an additional 6,124 shares during the period. AQR Capital Management LLC lifted its stake in Fidelis Insurance by 41.2% in the first quarter. AQR Capital Management LLC now owns 74,025 shares of the company’s stock valued at $1,199,000 after buying an additional 21,590 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Fidelis Insurance by 4.0% in the first quarter. Millennium Management LLC now owns 859,192 shares of the company’s stock valued at $13,919,000 after acquiring an additional 33,420 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Fidelis Insurance by 55.6% during the first quarter. Goldman Sachs Group Inc. now owns 896,089 shares of the company’s stock worth $14,517,000 after acquiring an additional 320,242 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Fidelis Insurance by 177.3% in the 1st quarter. Jane Street Group LLC now owns 103,332 shares of the company’s stock valued at $1,674,000 after acquiring an additional 66,063 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Fidelis Insurance Stock Performance

The stock has a market cap of $2.22 billion, a PE ratio of -400.94 and a beta of 0.25. The firm’s 50-day moving average is $19.28 and its 200 day moving average is $18.48. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 0.74.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.13. The company had revenue of $978.20 million for the quarter, compared to the consensus estimate of $756.14 million. Fidelis Insurance had a negative net margin of 0.56% and a negative return on equity of 0.94%. As a group, research analysts anticipate that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current year.

Fidelis Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 16th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.0%. Fidelis Insurance’s dividend payout ratio (DPR) is currently -1,200.00%.

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

Fidelis Insurance Company Profile

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.