Fidelis Insurance (NYSE:FIHL) Shares Gap Down – Here’s Why

Fidelis Insurance Holdings Limited (NYSE:FIHL) shares 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 changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FIHL shares. Keefe, Bruyette & Woods boosted their target price on Fidelis Insurance from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. dropped their price objective on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group restated a “sell” rating and issued a $16.00 target price (down previously from $21.00) on shares of Fidelis Insurance in a research note on Wednesday. Finally, Barclays dropped 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 research note on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.00.

Fidelis Insurance Trading Down 3.1 %

The business’s fifty day moving average is $18.81 and its 200 day moving average is $18.03. The stock has a market cap of $1.93 billion, a PE ratio of 4.14 and a beta of 0.30. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17.

Fidelis Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.44%. Fidelis Insurance’s payout ratio is 10.10%.

Institutional Investors Weigh In On Fidelis Insurance

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

About Fidelis Insurance

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.