Fidelis Insurance (NYSE:FIHL) Shares Down 6%

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL) were down 6% during trading on Tuesday . The stock traded as low as $17.66 and last traded at $18.82. Approximately 681,938 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 606,553 shares. The stock had previously closed at $20.03.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FIHL shares. Keefe, Bruyette & Woods increased their price target on shares of Fidelis Insurance from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. JMP Securities restated a “market outperform” rating and set a $24.00 target price on shares of Fidelis Insurance in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Fidelis Insurance from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.44.

Fidelis Insurance Stock Performance

The stock has a market cap of $2.19 billion and a price-to-earnings ratio of 0.97. The stock’s 50-day moving average is $18.23 and its 200-day moving average is $14.83. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.66 and a quick ratio of 0.66.

Fidelis Insurance (NYSE:FIHL) last announced its quarterly earnings results on Thursday, February 29th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.41. Fidelis Insurance had a net margin of 59.30% and a return on equity of 20.23%. The company had revenue of $553.70 million for the quarter, compared to analyst estimates of $522.52 million. Analysts anticipate that Fidelis Insurance Holdings Limited will post 3.24 EPS for the current fiscal year.

Fidelis Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Thursday, March 14th. Fidelis Insurance’s dividend payout ratio is presently 2.10%.

Institutional Investors Weigh In On Fidelis Insurance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank purchased a new stake in Fidelis Insurance during the 3rd quarter worth $26,000. New York State Common Retirement Fund bought a new stake in shares of Fidelis Insurance in the 3rd quarter worth about $53,000. Toronto Dominion Bank bought a new stake in shares of Fidelis Insurance in the 3rd quarter worth about $73,000. Quantbot Technologies LP bought a new stake in shares of Fidelis Insurance in the 3rd quarter worth about $113,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Fidelis Insurance by 2,976.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,675 shares of the company’s stock worth $110,000 after purchasing an additional 8,393 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

About Fidelis Insurance

Fidelis Insurance Holdings Limited, together with its subsidiaries, provides insurance and reinsurance products 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.