Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Fidelis Insurance (NYSE:FIHL) Stock

Fidelis Insurance (NYSE:FIHL) had its target price hoisted by research analysts at Keefe, Bruyette & Woods from $25.00 to $26.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 30.46% from the company’s previous close.

Several other brokerages also recently commented on FIHL. The Goldman Sachs Group initiated coverage on shares of Fidelis Insurance in a research note on Tuesday, September 17th. They set a “neutral” rating and a $18.50 price objective for the company. JMP Securities reissued a “market outperform” rating and set a $24.00 price objective on shares of Fidelis Insurance in a research note on Friday, August 16th. Evercore ISI initiated coverage on Fidelis Insurance in a research report on Wednesday, July 17th. They issued an “inline” rating and a $19.00 price target for the company. Finally, Barclays began coverage on Fidelis Insurance in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $21.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fidelis Insurance presently has a consensus rating of “Hold” and an average target price of $20.69.

Fidelis Insurance Stock Performance

Shares of FIHL opened at $19.93 on Thursday. The stock has a 50-day moving average price of $17.92 and a 200-day moving average price of $17.50. The company has a market cap of $2.35 billion, a PE ratio of 5.03 and a beta of -0.01. Fidelis Insurance has a 12-month low of $11.55 and a 12-month high of $21.32. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18.

Fidelis Insurance (NYSE:FIHL) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.15). The business had revenue of $547.10 million during the quarter, compared to analysts’ expectations of $582.19 million. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.49%. As a group, equities analysts forecast that Fidelis Insurance will post 2.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fidelis Insurance

Several institutional investors and hedge funds have recently modified their holdings of FIHL. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Fidelis Insurance in the third quarter valued at $2,068,000. The Manufacturers Life Insurance Company lifted its stake in shares of Fidelis Insurance by 4.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 18,097 shares of the company’s stock worth $327,000 after acquiring an additional 770 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Fidelis Insurance by 12.8% in the third quarter. Loomis Sayles & Co. L P now owns 655,565 shares of the company’s stock worth $11,839,000 after purchasing an additional 74,445 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Fidelis Insurance by 7.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 124,828 shares of the company’s stock worth $2,254,000 after acquiring an additional 8,992 shares in the last quarter. Finally, Foundry Partners LLC purchased a new stake in shares of Fidelis Insurance in the 3rd quarter worth $5,065,000. Institutional investors own 81.99% of the company’s stock.

About Fidelis Insurance

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.