JMP Securities Reiterates “Market Outperform” Rating for Fidelis Insurance (NYSE:FIHL)

Fidelis Insurance (NYSE:FIHL)‘s stock had its “market outperform” rating reaffirmed by analysts at JMP Securities in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $24.00 target price on the stock. JMP Securities’ target price would indicate a potential upside of 28.82% from the company’s current price.

Several other equities research analysts also recently commented on FIHL. JPMorgan Chase & Co. lifted their price objective on Fidelis Insurance from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Fidelis Insurance from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Fidelis Insurance currently has an average rating of “Moderate Buy” and an average target price of $18.44.

Fidelis Insurance Price Performance

Shares of FIHL opened at $18.63 on Monday. Fidelis Insurance has a twelve month low of $11.55 and a twelve month high of $19.80. The company has a market capitalization of $2.20 billion and a P/E ratio of 0.98. The firm has a 50 day moving average of $16.77 and a 200 day moving average of $14.44. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.21.

Fidelis Insurance (NYSE:FIHL) last issued its earnings results on Thursday, February 29th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.74 by $0.41. Fidelis Insurance had a return on equity of 20.23% and a net margin of 59.30%. The business had revenue of $553.70 million for the quarter, compared to the consensus estimate of $522.52 million. As a group, equities research analysts anticipate that Fidelis Insurance will post 3.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fidelis Insurance

Several institutional investors have recently bought and sold shares of FIHL. Amalgamated Bank purchased a new stake in Fidelis Insurance during the 3rd quarter valued at about $26,000. UBS Group AG acquired a new stake in shares of Fidelis Insurance in the third quarter valued at approximately $42,000. California State Teachers Retirement System purchased a new position in Fidelis Insurance during the third quarter worth approximately $49,000. New York State Common Retirement Fund acquired a new position in Fidelis Insurance during the third quarter worth $53,000. Finally, Toronto Dominion Bank purchased a new stake in Fidelis Insurance in the 3rd quarter valued at $73,000. 81.99% of the stock is 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.