Fidelis Insurance (NYSE:FIHL) Earns Sell Rating from The Goldman Sachs Group

Fidelis Insurance (NYSE:FIHL - Get Free Report)'s stock had its "sell" rating reissued by stock analysts at The Goldman Sachs Group in a research note issued on Wednesday, MarketBeat Ratings reports. They currently have a $16.00 target price on the stock, down from their previous target price of $21.00. The Goldman Sachs Group's target price would indicate a potential downside of 3.26% from the stock's previous close.

A number of other analysts have also weighed in on FIHL. JPMorgan Chase & Co. cut their price objective on Fidelis Insurance from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, January 3rd. Keefe, Bruyette & Woods increased their price target on Fidelis Insurance from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Thursday, November 14th. Finally, Barclays lowered their price objective on Fidelis Insurance from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday. One research 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 presently has an average rating of "Hold" and a consensus price target of $21.00.

Fidelis Insurance Trading Down 2.3 %

Shares of FIHL traded down $0.39 during midday trading on Wednesday, hitting $16.54. 1,597,496 shares of the stock were exchanged, compared to its average volume of 806,399. The stock has a fifty day simple moving average of $18.81 and a 200 day simple moving average of $18.03. Fidelis Insurance has a 52-week low of $11.80 and a 52-week high of $21.32. 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 $1.95 billion, a P/E ratio of 4.18 and a beta of 0.53.

Hedge Funds Weigh In On Fidelis Insurance

Several hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC acquired a new stake in Fidelis Insurance during the 2nd quarter worth approximately $1,108,000. Caprock Group LLC acquired a new stake in shares of Fidelis Insurance during the 2nd quarter valued at approximately $265,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Fidelis Insurance during the 2nd 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 last quarter. Finally, Federated Hermes Inc. increased its holdings in Fidelis Insurance by 78.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company's stock valued at $17,593,000 after acquiring an additional 474,714 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

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.