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

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

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday. The Goldman Sachs Group reissued a “sell” rating and set a $16.00 target price (down from $21.00) on shares of Fidelis Insurance in a research report on Wednesday, January 8th. Barclays lowered their price objective on Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. reduced their target price on Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Fidelis Insurance presently has an average rating of “Hold” and an average price target of $20.29.

Institutional Trading of Fidelis Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIHL. Principal Financial Group Inc. bought a new stake in shares of Fidelis Insurance in the third quarter valued at approximately $1,144,000. Summit Global Investments bought a new stake in Fidelis Insurance in the 3rd quarter valued at $238,000. Empowered Funds LLC acquired a new stake in Fidelis Insurance in the 3rd quarter worth $6,424,000. Intech Investment Management LLC bought a new position in shares of Fidelis Insurance during the 3rd quarter worth about $269,000. Finally, Foundry Partners LLC acquired a new position in shares of Fidelis Insurance during the third quarter valued at about $5,065,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Fidelis Insurance Trading Down 11.5 %

The firm has a market cap of $1.72 billion, a P/E ratio of 3.71 and a beta of 0.48. The company’s 50 day moving average is $17.07 and its two-hundred day moving average is $17.93. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68.

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.