Barclays Cuts Fidelis Insurance (NYSE:FIHL) Price Target to $20.00

Fidelis Insurance (NYSE:FIHL - Get Free Report) had its target price lowered by equities researchers at Barclays from $21.00 to $20.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective points to a potential upside of 17.86% from the stock's previous close.

A number of other research firms have also weighed in on FIHL. Keefe, Bruyette & Woods increased their price objective on Fidelis Insurance from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. lowered their price objective on Fidelis Insurance from $21.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday. Finally, The Goldman Sachs Group initiated coverage on shares of Fidelis Insurance in a research note on Tuesday, September 17th. They issued a "neutral" rating and a $18.50 price target for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $21.36.

Fidelis Insurance Stock Down 1.9 %

Shares of FIHL stock traded down $0.32 during trading on Monday, reaching $16.97. The company's stock had a trading volume of 1,014,826 shares, compared to its average volume of 633,775. Fidelis Insurance has a 1-year low of $11.80 and a 1-year high of $21.32. The stock's 50-day moving average price is $18.82 and its 200 day moving average price is $18.02. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 4.29 and a beta of 0.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68.

Institutional Investors Weigh In On Fidelis Insurance

Institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Fidelis Insurance by 3.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,327 shares of the company's stock valued at $283,000 after purchasing an additional 649 shares during the last quarter. Prospector Partners LLC lifted its stake in Fidelis Insurance by 0.6% in the second quarter. Prospector Partners LLC now owns 577,628 shares of the company's stock valued at $9,421,000 after buying an additional 3,710 shares during the last quarter. Martingale Asset Management L P grew its position in shares of Fidelis Insurance by 6.7% during the third quarter. Martingale Asset Management L P now owns 127,593 shares of the company's stock worth $2,304,000 after acquiring an additional 7,997 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Fidelis Insurance during the second quarter worth approximately $140,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Fidelis Insurance by 7.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 124,828 shares of the company's stock valued at $2,254,000 after acquiring an additional 8,992 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.