Fidelis Insurance (NYSE:FIHL) Receives “Sell” Rating from The Goldman Sachs Group

Fidelis Insurance (NYSE:FIHL)‘s stock had its “sell” rating reaffirmed by research analysts at The Goldman Sachs Group in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $16.00 price target on the stock, down from their previous price target of $21.00. The Goldman Sachs Group’s target price suggests a potential downside of 5.44% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. dropped their price target 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 lifted their price target on Fidelis Insurance from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, Barclays dropped their price target on Fidelis Insurance from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Fidelis Insurance Price Performance

NYSE:FIHL opened at $16.92 on Wednesday. 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 stock has a fifty day moving average of $18.81 and a 200 day moving average of $18.03. Fidelis Insurance has a 52-week low of $11.80 and a 52-week high of $21.32. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 4.27 and a beta of 0.30.

Institutional Investors Weigh In On Fidelis Insurance

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its holdings 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 valued at $283,000 after purchasing an additional 649 shares during the period. Prospector Partners LLC increased its holdings in Fidelis Insurance by 0.6% during the 2nd quarter. Prospector Partners LLC now owns 577,628 shares of the company’s stock valued at $9,421,000 after purchasing an additional 3,710 shares during the period. Martingale Asset Management L P increased its holdings in Fidelis Insurance by 6.7% during the 3rd quarter. Martingale Asset Management L P now owns 127,593 shares of the company’s stock valued at $2,304,000 after purchasing an additional 7,997 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Fidelis Insurance during the 2nd quarter valued at about $140,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Fidelis Insurance by 7.8% during the 3rd 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 during the period. Institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Company Profile

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.