Fidelis Insurance (NYSE:FIHL) Shares Gap Down Following Analyst Downgrade

Shares of Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report) gapped down before the market opened on Thursday after UBS Group lowered their price target on the stock from $25.00 to $23.00. The stock had previously closed at $16.49, but opened at $15.66. UBS Group currently has a buy rating on the stock. Fidelis Insurance shares last traded at $14.70, with a volume of 749,647 shares changing hands.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. decreased 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 report on Friday, January 3rd. The Goldman Sachs Group reiterated a "sell" rating and issued a $16.00 price target (down previously from $21.00) on shares of Fidelis Insurance in a report on Wednesday, January 8th. Keefe, Bruyette & Woods dropped their price objective on shares of Fidelis Insurance from $25.00 to $22.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, Barclays dropped their price objective on shares of Fidelis Insurance from $20.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $20.29.

Institutional Trading of Fidelis Insurance

Hedge funds and other institutional investors have recently modified their holdings of the business. R Squared Ltd acquired a new stake in shares of Fidelis Insurance during the 4th quarter worth about $26,000. Venturi Wealth Management LLC grew its position in Fidelis Insurance by 1,862.9% in the 4th quarter. Venturi Wealth Management LLC now owns 6,144 shares of the company's stock valued at $111,000 after acquiring an additional 5,831 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Fidelis Insurance in the 3rd quarter valued at about $195,000. Fox Run Management L.L.C. acquired a new position in Fidelis Insurance in the 4th quarter valued at about $235,000. Finally, Summit Global Investments acquired a new position in Fidelis Insurance in the 3rd quarter valued at about $238,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Fidelis Insurance Stock Performance

The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 3.66 and a beta of 0.48. 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 50-day simple moving average of $16.90 and a two-hundred day simple moving average of $17.90.

Fidelis Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.76%. The ex-dividend date is Wednesday, March 12th. Fidelis Insurance's dividend payout ratio is currently 10.10%.

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.