The Goldman Sachs Group Begins Coverage on Fidelis Insurance (NYSE:FIHL)

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

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

Fidelis Insurance Price Performance

Fidelis Insurance stock opened at $17.93 on Tuesday. The stock has a market cap of $2.11 billion, a P/E ratio of 4.35 and a beta of -0.10. 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 company’s 50 day moving average price is $17.78 and its two-hundred day moving average price is $17.74. Fidelis Insurance has a 52 week low of $11.55 and a 52 week high of $20.53.

Fidelis Insurance (NYSE:FIHL) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.15). Fidelis Insurance had a return on equity of 15.67% and a net margin of 20.96%. The company had revenue of $547.10 million during the quarter, compared to the consensus estimate of $582.19 million. On average, equities analysts predict that Fidelis Insurance will post 2.94 earnings per share for the current 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 given 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 of this dividend is Monday, September 16th. Fidelis Insurance’s dividend payout ratio is currently 9.71%.

Hedge Funds Weigh In On Fidelis Insurance

Institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. lifted its position in Fidelis Insurance by 62.0% during the second quarter. American Century Companies Inc. now owns 3,265,564 shares of the company’s stock valued at $53,261,000 after buying an additional 1,249,853 shares during the period. Boston Partners grew its position in shares of Fidelis Insurance by 213.7% in the 1st quarter. Boston Partners now owns 714,683 shares of the company’s stock worth $13,922,000 after buying an additional 486,888 shares during the period. Federated Hermes Inc. increased its stake in shares of Fidelis Insurance by 78.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company’s stock worth $17,593,000 after acquiring an additional 474,714 shares in the last quarter. Vanguard Group Inc. lifted its position in Fidelis Insurance by 227.4% during the 1st quarter. Vanguard Group Inc. now owns 562,570 shares of the company’s stock valued at $10,959,000 after acquiring an additional 390,754 shares during the period. Finally, Ghisallo Capital Management LLC boosted its stake in Fidelis Insurance by 1,038.8% during the second quarter. Ghisallo Capital Management LLC now owns 400,000 shares of the company’s stock worth $6,524,000 after acquiring an additional 364,875 shares in the last quarter. 81.99% of the stock is owned by 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.