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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.