Fidelis Insurance (NYSE:FIHL) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Fidelis Insurance (NYSE:FIHL - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.02, Zacks reports. Fidelis Insurance had a negative return on equity of 1.81% and a negative net margin of 1.70%.Get Fidelis Insurance alerts:Fidelis Insurance Stock Up 0.6%Shares of FIHL stock traded up $0.12 on Wednesday, reaching $19.15. 311,663 shares of the company were exchanged, compared to its average volume of 603,837. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.71. The company has a 50-day moving average of $17.95 and a 200-day moving average of $17.05. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -46.71 and a beta of 0.27. Fidelis Insurance has a one year low of $14.17 and a one year high of $21.32. Fidelis Insurance Dividend AnnouncementThe business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 10th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.60 annualized dividend and a dividend yield of 3.1%. Fidelis Insurance's dividend payout ratio is currently -146.34%. Institutional Inflows and OutflowsA number of institutional investors have recently added to or reduced their stakes in FIHL. Dimensional Fund Advisors LP boosted its holdings in Fidelis Insurance by 16.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,623,506 shares of the company's stock worth $47,612,000 after acquiring an additional 367,538 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Fidelis Insurance by 55.6% during the first quarter. Goldman Sachs Group Inc. now owns 896,089 shares of the company's stock worth $14,517,000 after purchasing an additional 320,242 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Fidelis Insurance by 25.7% in the 2nd quarter. Balyasny Asset Management L.P. now owns 772,764 shares of the company's stock worth $12,812,000 after purchasing an additional 157,878 shares in the last quarter. Marshall Wace LLP grew its position in Fidelis Insurance by 289.6% in the 2nd quarter. Marshall Wace LLP now owns 192,943 shares of the company's stock valued at $3,199,000 after purchasing an additional 143,418 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Fidelis Insurance in the 2nd quarter valued at $1,687,000. 81.99% of the stock is owned by institutional investors and hedge funds. Analyst Ratings ChangesA number of research analysts have recently issued reports on FIHL shares. Zacks Research upgraded shares of Fidelis Insurance from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 11th. Evercore ISI reissued a "mixed" rating on shares of Fidelis Insurance in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Fidelis Insurance in a research report on Wednesday, October 8th. Finally, Barclays increased their price target on Fidelis Insurance from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $20.71.View Our Latest Analysis on Fidelis InsuranceAbout Fidelis Insurance (Get Free Report)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.Recommended StoriesFive stocks we like better than Fidelis InsuranceFind and Profitably Trade Stocks at 52-Week LowsCarving Up Profits: 3 Food Stocks on the Thanksgiving TableESG Stocks, What Investors Should KnowC3.ai's Reset: Why New Leadership Could Spark a TurnaroundLow PE Growth Stocks: Unlocking Investment OpportunitiesCleanSpark Secures $1.15B, Stock Drops—Here's Why It's an OpportunityThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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