Fidelis Insurance (NYSE:FIHL) Shares Gap Down – Time to Sell?

Fidelis Insurance Holdings Limited (NYSE:FIHL) gapped down before the market opened on Wednesday . The stock had previously closed at $16.93, but opened at $16.24. Fidelis Insurance shares last traded at $16.36, with a volume of 81,839 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FIHL shares. The Goldman Sachs Group reissued a “sell” rating and issued a $16.00 target price (down from $21.00) on shares of Fidelis Insurance in a research report on Wednesday. Barclays decreased their price target on shares of Fidelis Insurance from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday. JPMorgan Chase & Co. lowered their price objective on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Keefe, Bruyette & Woods reduced their target price on Fidelis Insurance from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $20.86.

Fidelis Insurance Price Performance

The company’s fifty day moving average is $18.78 and its two-hundred day moving average is $18.01. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 4.08 and a beta of 0.53.

Fidelis Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Friday, November 29th. Fidelis Insurance’s payout ratio is 10.10%.

Hedge Funds Weigh In On Fidelis Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Natixis Advisors LLC purchased a new stake in shares of Fidelis Insurance during the second quarter valued at approximately $1,108,000. Caprock Group LLC acquired a new stake in Fidelis Insurance during the 2nd quarter valued at $265,000. Ashton Thomas Private Wealth LLC acquired a new stake in Fidelis Insurance during the 2nd quarter valued at $140,000. American Century Companies Inc. increased its stake in Fidelis Insurance by 62.0% during the 2nd quarter. American Century Companies Inc. now owns 3,265,564 shares of the company’s stock worth $53,261,000 after buying an additional 1,249,853 shares during the period. Finally, Federated Hermes Inc. boosted its position in Fidelis Insurance by 78.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company’s stock valued at $17,593,000 after buying an additional 474,714 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Fidelis Insurance Company Profile

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.