Barclays Cuts Fidelis Insurance (NYSE:FIHL) Price Target to $16.00

Fidelis Insurance (NYSE:FIHL) had its price target trimmed by Barclays from $18.00 to $16.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms also recently commented on FIHL. UBS Group raised their price objective on Fidelis Insurance from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Keefe, Bruyette & Woods decreased their price target on shares of Fidelis Insurance from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group restated a “sell” rating and issued a $16.00 price target (down from $21.00) on shares of Fidelis Insurance in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Fidelis Insurance from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.71.

Fidelis Insurance Stock Up 0.6 %

Shares of FIHL opened at $15.61 on Friday. The firm has a market capitalization of $1.74 billion, a P/E ratio of 3.94 and a beta of 0.28. Fidelis Insurance has a 12-month low of $14.17 and a 12-month high of $21.32. The firm has a fifty day moving average price of $15.63 and a 200-day moving average price of $17.22. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17.

Fidelis Insurance (NYSE:FIHL) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($1.98). The company had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $661.52 million. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. Equities research analysts expect that Fidelis Insurance will post 3.12 earnings per share for the current year.

Fidelis Insurance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 12th were paid a $0.10 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.40 dividend on an annualized basis and a yield of 2.56%. Fidelis Insurance’s dividend payout ratio (DPR) is 42.55%.

Institutional Investors Weigh In On Fidelis Insurance

A number of institutional investors and hedge funds have recently modified their holdings of the company. Zimmer Partners LP acquired a new position in shares of Fidelis Insurance in the 4th quarter valued at about $31,991,000. Citadel Advisors LLC boosted its position in Fidelis Insurance by 2,922.7% in the 4th quarter. Citadel Advisors LLC now owns 1,569,863 shares of the company’s stock worth $28,462,000 after purchasing an additional 1,517,927 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Fidelis Insurance during the 4th quarter worth approximately $24,435,000. Millennium Management LLC increased its holdings in shares of Fidelis Insurance by 181.2% during the 4th quarter. Millennium Management LLC now owns 825,772 shares of the company’s stock valued at $14,971,000 after purchasing an additional 532,110 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Fidelis Insurance by 3,511.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 539,783 shares of the company’s stock valued at $9,785,000 after purchasing an additional 524,835 shares in the last quarter. Institutional investors and hedge funds 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.