Keefe, Bruyette & Woods Has Lowered Expectations for Fidelis Insurance (NYSE:FIHL) Stock Price

Fidelis Insurance (NYSE:FIHL - Free Report) had its target price decreased by Keefe, Bruyette & Woods from $22.00 to $20.00 in a research note published on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Several other research firms also recently weighed in on FIHL. The Goldman Sachs Group restated a "sell" rating and set a $16.00 target price (down from $21.00) on shares of Fidelis Insurance in a report on Wednesday, January 8th. UBS Group increased their target price on Fidelis Insurance from $23.00 to $25.00 and gave the company a "buy" rating in a report on Friday, March 7th. JPMorgan Chase & Co. cut their price target on Fidelis Insurance from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Barclays lowered their target price on shares of Fidelis Insurance from $20.00 to $18.00 and set an "equal weight" rating for the company in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $19.71.

Fidelis Insurance Stock Performance

Shares of FIHL stock traded up $0.42 during trading hours on Wednesday, reaching $16.08. 187,389 shares of the company's stock were exchanged, compared to its average volume of 578,638. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68. The company's 50 day moving average is $15.63 and its two-hundred day moving average is $17.22. The company has a market cap of $1.80 billion, a P/E ratio of 4.06 and a beta of 0.28. Fidelis Insurance has a 1 year low of $14.17 and a 1 year high of $21.32.

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Fidelis Insurance (NYSE:FIHL - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of $0.93 by ($1.98). The company had revenue of $685.90 million for the quarter, compared to analysts' expectations of $661.52 million. Fidelis Insurance had a return on equity of 15.27% and a net margin of 20.17%. Equities research analysts anticipate that Fidelis Insurance will post 3.12 EPS for the current fiscal year.

Fidelis Insurance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.40 annualized dividend and a yield of 2.49%. Fidelis Insurance's dividend payout ratio is currently 42.55%.

Hedge Funds Weigh In On Fidelis Insurance

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its holdings in Fidelis Insurance by 7.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 124,828 shares of the company's stock valued at $2,254,000 after purchasing an additional 8,992 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Fidelis Insurance by 4.4% in the third quarter. The Manufacturers Life Insurance Company now owns 18,097 shares of the company's stock valued at $327,000 after buying an additional 770 shares in the last quarter. Wellington Management Group LLP lifted its position in Fidelis Insurance by 76.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,078,157 shares of the company's stock worth $55,592,000 after acquiring an additional 1,332,896 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Fidelis Insurance in the 3rd quarter worth approximately $195,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Fidelis Insurance in the 3rd quarter worth approximately $732,000. Institutional investors and hedge funds own 81.99% of the company's stock.

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.