Fidelis Insurance (NYSE:FIHL) Shares Gap Down - Time to Sell?

Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report) gapped down prior to trading 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.

Analysts Set New Price Targets

FIHL has been the topic of several research reports. Barclays cut their target price on Fidelis Insurance from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Monday. JPMorgan Chase & Co. reduced their price objective on Fidelis Insurance from $21.00 to $20.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. Keefe, Bruyette & Woods upped their target price 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, The Goldman Sachs Group reaffirmed a "sell" rating and set a $16.00 price target (down from $21.00) on shares of Fidelis Insurance in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $21.00.

Fidelis Insurance Stock Performance

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's 50 day moving average price is $18.81 and its 200-day moving average price is $18.03. The firm has a market capitalization of $1.95 billion, a PE ratio of 4.18 and a beta of 0.30.

Fidelis Insurance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, November 29th. Fidelis Insurance's dividend payout ratio (DPR) is presently 10.10%.

Hedge Funds Weigh In On Fidelis Insurance

A number of large investors have recently added to or reduced their stakes in FIHL. Natixis Advisors LLC acquired a new stake in shares of Fidelis Insurance in the second quarter worth approximately $1,108,000. Caprock Group LLC acquired a new position in shares of Fidelis Insurance during the 2nd quarter worth approximately $265,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Fidelis Insurance in the second quarter valued at approximately $140,000. American Century Companies Inc. increased its holdings in shares of 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. grew its holdings in shares of Fidelis Insurance by 78.6% in the second quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company's stock valued at $17,593,000 after purchasing an additional 474,714 shares during the period. 81.99% of the stock is currently 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.