Fidelis Insurance (NYSE:FIHL) Shares Gap Down – What’s Next?

Fidelis Insurance Holdings Limited (NYSE:FIHL)’s share price 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 traded.

Analyst Ratings Changes

A number of research analysts have weighed in on FIHL shares. 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. Keefe, Bruyette & Woods boosted their price objective on Fidelis Insurance from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. The Goldman Sachs Group reissued a “sell” rating and issued a $16.00 price target (down previously from $21.00) on shares of Fidelis Insurance in a research note on Wednesday. Finally, Barclays decreased their price objective on shares of Fidelis Insurance from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Fidelis Insurance currently has an average rating of “Hold” and an average target price of $21.00.

Fidelis Insurance Stock Down 3.1 %

The business’s fifty day moving average is $18.81 and its two-hundred day moving average is $18.03. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 4.14 and a beta of 0.30. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17.

Fidelis Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, November 29th. Fidelis Insurance’s payout ratio is currently 10.10%.

Institutional Investors Weigh In On Fidelis Insurance

A number of hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in Fidelis Insurance by 76.4% in the third quarter. Wellington Management Group LLP now owns 3,078,157 shares of the company’s stock valued at $55,592,000 after acquiring an additional 1,332,896 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Fidelis Insurance by 62.0% in the 2nd 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 in the last quarter. Federated Hermes Inc. lifted its position in shares of Fidelis Insurance by 78.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company’s stock worth $17,593,000 after purchasing an additional 474,714 shares during the last quarter. Ghisallo Capital Management LLC grew its stake in shares of Fidelis Insurance by 1,038.8% during the second quarter. Ghisallo Capital Management LLC now owns 400,000 shares of the company’s stock worth $6,524,000 after purchasing an additional 364,875 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in Fidelis Insurance in the third quarter valued at $6,424,000. Institutional investors and hedge funds 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.