Fidelis Insurance Holdings Limited (NYSE:FIHL) to Issue $0.10 Quarterly Dividend

Fidelis Insurance Holdings Limited (NYSE:FIHL) announced a quarterly dividend on Wednesday, August 14th, Wall Street Journal reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.10 per share on Monday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, September 16th.

Fidelis Insurance has a dividend payout ratio of 11.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Fidelis Insurance to earn $3.50 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 11.4%.

Fidelis Insurance Price Performance

Shares of NYSE:FIHL opened at $17.60 on Friday. The company’s fifty day moving average is $17.67 and its two-hundred day moving average is $17.66. The company has a market cap of $2.08 billion, a P/E ratio of 4.27 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 company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FIHL shares. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $24.00 price target on shares of Fidelis Insurance in a research report on Friday, August 16th. Evercore ISI assumed coverage on shares of Fidelis Insurance in a research note on Wednesday, July 17th. They set an “inline” rating and a $19.00 target price for the company. Barclays began coverage on shares of Fidelis Insurance in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $21.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Fidelis Insurance from $18.50 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 target price on shares of Fidelis Insurance in a research report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.13.

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.