Fidelis Insurance (NYSE:FIHL) Hits New 52-Week High – Here’s Why

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $21.32 and last traded at $20.49, with a volume of 154771 shares changing hands. The stock had previously closed at $18.46.

Analyst Ratings Changes

A number of research firms have issued reports on FIHL. The Goldman Sachs Group began coverage on Fidelis Insurance in a research report on Tuesday, September 17th. They issued a “neutral” rating and a $18.50 price target on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Fidelis Insurance in a research report on Friday, August 16th. Evercore ISI began coverage on Fidelis Insurance in a research report on Wednesday, July 17th. They issued an “inline” rating and a $19.00 price target on the stock. Barclays began coverage on Fidelis Insurance in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $21.00 price target on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 price target on shares of Fidelis Insurance in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.44.

Fidelis Insurance Stock Up 8.5 %

The business has a 50 day moving average of $17.89 and a 200-day moving average of $17.48. The stock has a market cap of $2.36 billion, a PE ratio of 5.35 and a beta of -0.01. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18.

Fidelis Insurance (NYSE:FIHL) last released 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). The firm had revenue of $547.10 million for the quarter, compared to analysts’ expectations of $582.19 million. Fidelis Insurance had a return on equity of 15.67% and a net margin of 20.96%. Equities research analysts predict that Fidelis Insurance Holdings Limited will post 2.9 EPS for the current fiscal year.

Fidelis Insurance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.00%. Fidelis Insurance’s dividend payout ratio is presently 10.47%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FIHL. American Century Companies Inc. grew its stake in shares of Fidelis Insurance by 62.0% in the 2nd quarter. American Century Companies Inc. now owns 3,265,564 shares of the company’s stock valued at $53,261,000 after purchasing an additional 1,249,853 shares during the last quarter. Boston Partners grew its stake in shares of Fidelis Insurance by 213.7% in the 1st quarter. Boston Partners now owns 714,683 shares of the company’s stock valued at $13,922,000 after purchasing an additional 486,888 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Fidelis Insurance by 78.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company’s stock valued at $17,593,000 after purchasing an additional 474,714 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Fidelis Insurance by 227.4% in the 1st quarter. Vanguard Group Inc. now owns 562,570 shares of the company’s stock valued at $10,959,000 after purchasing an additional 390,754 shares during the last quarter. Finally, Ghisallo Capital Management LLC grew its stake in shares of Fidelis Insurance by 1,038.8% in the 2nd quarter. Ghisallo Capital Management LLC now owns 400,000 shares of the company’s stock valued at $6,524,000 after purchasing an additional 364,875 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Company Profile

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.