Fidelis Insurance (NYSE:FIHL) Sees Strong Trading Volume

Fidelis Insurance Holdings Limited (NYSE:FIHL) saw unusually-high trading volume on Thursday . Approximately 1,837,622 shares changed hands during trading, an increase of 201% from the previous session’s volume of 611,439 shares.The stock last traded at $16.63 and had previously closed at $16.75.

Wall Street Analyst Weigh In

FIHL has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Fidelis Insurance from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. UBS Group decreased their price target on shares of Fidelis Insurance from $22.50 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. JPMorgan Chase & Co. boosted their price target on shares of Fidelis Insurance from $17.00 to $17.50 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, JMP Securities restated a “market outperform” rating and set a $24.00 price target on shares of Fidelis Insurance in a research note on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Fidelis Insurance currently has an average rating of “Moderate Buy” and a consensus target price of $18.94.

Fidelis Insurance Price Performance

The business’s 50 day moving average is $18.82 and its two-hundred day moving average is $15.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $1.91 billion and a PE ratio of 3.94.

Fidelis Insurance (NYSE:FIHL) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The firm had revenue of $520.00 million during the quarter, compared to analysts’ expectations of $585.88 million. Fidelis Insurance had a return on equity of 17.97% and a net margin of 23.31%. As a group, research analysts anticipate that Fidelis Insurance Holdings Limited will post 3.19 EPS for the current year.

Fidelis Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.47%. The ex-dividend date is Friday, June 14th. Fidelis Insurance’s dividend payout ratio is presently 9.71%.

Institutional Trading of Fidelis Insurance

A number of institutional investors have recently modified their holdings of FIHL. Amalgamated Bank purchased a new position in shares of Fidelis Insurance in the 3rd quarter worth about $26,000. New York State Common Retirement Fund purchased a new stake in shares of Fidelis Insurance during the third quarter valued at approximately $53,000. EntryPoint Capital LLC bought a new stake in shares of Fidelis Insurance during the first quarter valued at approximately $63,000. Toronto Dominion Bank purchased a new position in Fidelis Insurance in the 3rd quarter worth approximately $73,000. Finally, Tower Research Capital LLC TRC boosted its stake in Fidelis Insurance by 2,976.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,675 shares of the company’s stock valued at $110,000 after purchasing an additional 8,393 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Fidelis Insurance Company Profile

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.