Fidelis Insurance (NYSE:FIHL) Sees Unusually-High Trading Volume - Still a Buy?

Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 234,204 shares were traded during mid-day trading, a decline of 37% from the previous session's volume of 372,398 shares.The stock last traded at $17.35 and had previously closed at $17.29.

Wall Street Analysts Forecast Growth

FIHL has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Fidelis Insurance from $25.00 to $26.00 and gave the stock an "outperform" rating in a report on Thursday, November 14th. The Goldman Sachs Group assumed coverage on Fidelis Insurance in a report on Tuesday, September 17th. They set a "neutral" rating and a $18.50 target price for the company. Barclays decreased their target price 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. Finally, JPMorgan Chase & Co. cut their target price on Fidelis Insurance from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $21.36.

Fidelis Insurance Price Performance

The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $18.82 and a two-hundred day moving average of $18.02. The company has a market cap of $2.00 billion, a PE ratio of 4.29 and a beta of 0.53.

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 issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.36%. Fidelis Insurance's dividend payout ratio (DPR) is presently 10.10%.

Institutional Trading of Fidelis Insurance

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