Fidelis Insurance Holdings Ltd. (FIHL) saw its stock soar 5.14% in pre-market trading on Wednesday, defying the company's recent weak earnings report. The surge appears to be driven by positive analyst views and the company's upcoming dividend payment.
KBW analyst Meyer Shields reiterated a Buy rating on FIHL shares and set a price target of $22, which is significantly higher than the current trading price. Additionally, Barclays maintained a Hold rating on the stock. These positive analyst views likely contributed to the stock's upward momentum.
Furthermore, FIHL announced that it will pay a dividend of $0.10 per share on March 27th. While the dividend yield of 2.8% is not exceptionally high, the announcement of a dividend payment is generally viewed as a positive sign by investors and may have further boosted the stock price.