Fidelis Insurance (NYSE:FIHL) Sees Unusually-High Trading Volume

Fidelis Insurance Holdings Limited (NYSE:FIHL) shares saw unusually-high trading volume on Thursday . Approximately 1,837,622 shares changed hands during mid-day 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 Analysts Forecast Growth

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

Fidelis Insurance Price Performance

The company has a market cap of $1.92 billion and a price-to-earnings ratio of 3.94. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.68 and a current ratio of 0.68. The company has a 50-day simple moving average of $18.78 and a 200-day simple moving average of $15.29.

Fidelis Insurance (NYSE:FIHL) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.74 earnings per share 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 analyst estimates 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 predict that Fidelis Insurance Holdings Limited will post 3.19 earnings per share for the current year.

Fidelis Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Friday, June 14th. Fidelis Insurance’s dividend payout ratio is currently 9.71%.

Institutional Investors Weigh In On Fidelis Insurance

A number of institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank purchased a new stake in Fidelis Insurance in the 3rd quarter valued at approximately $26,000. Prospector Partners LLC lifted its stake in Fidelis Insurance by 0.4% in the 4th quarter. Prospector Partners LLC now owns 564,593 shares of the company’s stock valued at $7,153,000 after buying an additional 2,395 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Fidelis Insurance in the 1st quarter valued at approximately $63,000. California State Teachers Retirement System lifted its stake in Fidelis Insurance by 144.4% in the 1st quarter. California State Teachers Retirement System now owns 6,103 shares of the company’s stock valued at $119,000 after buying an additional 3,606 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in Fidelis Insurance in the 3rd quarter valued at approximately $53,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

About Fidelis Insurance

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.