Fidelis Insurance Holdings Limited (NYSE:FIHL) Declares Quarterly Dividend of $0.10

Fidelis Insurance Holdings Limited (NYSE:FIHL) declared a quarterly dividend on Thursday, August 15th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Monday, September 16th.

Fidelis Insurance has a dividend payout ratio of 11.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Fidelis Insurance to earn $3.60 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 11.1%.

Fidelis Insurance Price Performance

FIHL stock traded up $0.01 during trading on Thursday, hitting $18.03. The company had a trading volume of 3,269,146 shares, compared to its average volume of 619,040. The company has a market cap of $2.13 billion, a P/E ratio of 4.13 and a beta of -0.10. Fidelis Insurance has a fifty-two week low of $11.55 and a fifty-two week high of $20.53. The company has a fifty day moving average price of $16.73 and a two-hundred day moving average price of $16.92. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.18.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FIHL shares. UBS Group lowered their price target on Fidelis Insurance from $22.50 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. JPMorgan Chase & Co. increased their price target on Fidelis Insurance from $18.50 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, Evercore ISI initiated coverage on shares of Fidelis Insurance in a research report on Wednesday, July 17th. They issued an “inline” rating and a $19.00 target price on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

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.