Fidelis Insurance (NYSE:FIHL) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Fidelis Insurance (NYSE:FIHL) in a research report released on Tuesday morning, MarketBeat.com reports. The firm issued a neutral rating and a $18.50 price target on the stock.

Several other analysts also recently commented on the stock. JMP Securities reaffirmed a market outperform rating and set a $24.00 target price on shares of Fidelis Insurance in a report on Friday, August 16th. Barclays started coverage on Fidelis Insurance in a report on Wednesday, September 4th. They set an equal weight rating and a $21.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Fidelis Insurance from $18.50 to $20.00 and gave the stock a neutral rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods reiterated an outperform rating and set a $24.00 price objective on shares of Fidelis Insurance in a research report on Friday, August 16th. Finally, Evercore ISI initiated coverage on shares of Fidelis Insurance in a research note on Wednesday, July 17th. They issued an inline rating and a $19.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $19.94.

Fidelis Insurance Trading Down 1.4 %

Shares of Fidelis Insurance stock opened at $17.93 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.11 billion, a P/E ratio of 4.35 and a beta of -0.10. Fidelis Insurance has a 12-month low of $11.55 and a 12-month high of $20.53. The business’s 50 day moving average is $17.78 and its 200-day moving average is $17.74.

Fidelis Insurance (NYSE:FIHL) last posted its earnings results on Wednesday, August 14th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.15). Fidelis Insurance had a return on equity of 15.67% and a net margin of 20.96%. The business had revenue of $547.10 million for the quarter, compared to analyst estimates of $582.19 million. Equities research analysts predict that Fidelis Insurance will post 2.94 earnings per share for the current fiscal year.

Fidelis Insurance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Monday, September 16th. Fidelis Insurance’s dividend payout ratio (DPR) is presently 9.71%.

Institutional Investors Weigh In On Fidelis Insurance

Several hedge funds have recently added to or reduced their stakes in the business. Jump Financial LLC lifted its holdings in shares of Fidelis Insurance by 94.6% during the fourth quarter. Jump Financial LLC now owns 50,014 shares of the company’s stock worth $634,000 after purchasing an additional 24,319 shares during the period. Trexquant Investment LP bought a new stake in Fidelis Insurance in the fourth quarter worth approximately $242,000. Prospector Partners LLC lifted its stake in Fidelis Insurance by 0.4% in the fourth quarter. Prospector Partners LLC now owns 564,593 shares of the company’s stock valued at $7,153,000 after buying an additional 2,395 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Fidelis Insurance by 0.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 15,360,508 shares of the company’s stock valued at $194,618,000 after acquiring an additional 131,657 shares during the period. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Fidelis Insurance in the 4th quarter valued at about $445,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.