Fidelis Insurance (NYSE:FIHL) Trading 7.3% Higher - Here's What Happened

Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report)'s stock price rose 7.3% during trading on Monday . The stock traded as high as $16.02 and last traded at $15.79. Approximately 225,420 shares were traded during trading, a decline of 62% from the average daily volume of 599,119 shares. The stock had previously closed at $14.71.

Analyst Ratings Changes

A number of equities analysts have weighed in on FIHL shares. The Goldman Sachs Group restated a "sell" rating and issued a $16.00 price target (down previously from $21.00) on shares of Fidelis Insurance in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of Fidelis Insurance from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, January 3rd. Keefe, Bruyette & Woods cut their price objective on shares of Fidelis Insurance from $25.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. UBS Group lowered their target price on Fidelis Insurance from $25.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Barclays reduced their price target on Fidelis Insurance from $20.00 to $18.00 and set an "equal weight" rating for the company in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $20.29.

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Fidelis Insurance Trading Down 3.4 %

The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 3.71 and a beta of 0.62. The firm has a 50-day moving average price of $16.42 and a 200 day moving average price of $17.76.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($1.98). Fidelis Insurance had a return on equity of 15.27% and a net margin of 20.17%. The business had revenue of $685.90 million during the quarter, compared to analyst estimates of $661.52 million. As a group, sell-side analysts forecast that Fidelis Insurance Holdings Limited will post 3.12 EPS for the current year.

Fidelis Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.40 dividend on an annualized basis and a yield of 2.73%. Fidelis Insurance's dividend payout ratio is currently 42.55%.

Hedge Funds Weigh In On Fidelis Insurance

Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its position in Fidelis Insurance by 18.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 47,804 shares of the company's stock valued at $867,000 after purchasing an additional 7,300 shares during the period. Voloridge Investment Management LLC lifted its stake in Fidelis Insurance by 1,243.1% in the fourth quarter. Voloridge Investment Management LLC now owns 178,320 shares of the company's stock valued at $3,233,000 after buying an additional 165,043 shares during the last quarter. Zimmer Partners LP acquired a new position in shares of Fidelis Insurance during the fourth quarter valued at $31,991,000. Squarepoint Ops LLC bought a new position in shares of Fidelis Insurance during the fourth quarter worth about $399,000. Finally, Two Sigma Advisers LP increased its holdings in shares of Fidelis Insurance by 52.2% in the 4th quarter. Two Sigma Advisers LP now owns 522,800 shares of the company's stock worth $9,478,000 after acquiring an additional 179,200 shares during the period. 81.99% of the stock is owned by institutional investors.

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.