Fidelis Insurance (NYSE:FIHL) Price Target Cut to $23.00 by Analysts at UBS Group

Fidelis Insurance (NYSE:FIHL) had its price target cut by UBS Group from $25.00 to $23.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Barclays decreased their price target on shares of Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday. The Goldman Sachs Group reaffirmed a “sell” rating and set a $16.00 target price (down previously from $21.00) on shares of Fidelis Insurance in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods cut their price objective on Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday. One 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.29.

Fidelis Insurance Stock Performance

NYSE:FIHL opened at $15.37 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.81 billion, a PE ratio of 3.88 and a beta of 0.48. Fidelis Insurance has a twelve month low of $13.10 and a twelve month high of $21.32. The stock’s 50-day simple moving average is $16.99 and its 200 day simple moving average is $17.91.

Hedge Funds Weigh In On Fidelis Insurance

A number of hedge funds have recently modified their holdings of FIHL. Zimmer Partners LP bought a new position in Fidelis Insurance during the 4th quarter worth $31,991,000. Citadel Advisors LLC increased its stake in shares of Fidelis Insurance by 2,922.7% in the fourth quarter. Citadel Advisors LLC now owns 1,569,863 shares of the company’s stock valued at $28,462,000 after buying an additional 1,517,927 shares during the period. LSV Asset Management bought a new position in shares of Fidelis Insurance during the fourth quarter worth about $24,435,000. Wellington Management Group LLP lifted its stake in shares of Fidelis Insurance by 76.4% in the third quarter. Wellington Management Group LLP now owns 3,078,157 shares of the company’s stock worth $55,592,000 after acquiring an additional 1,332,896 shares during the period. Finally, Millennium Management LLC boosted its holdings in Fidelis Insurance by 181.2% in the fourth quarter. Millennium Management LLC now owns 825,772 shares of the company’s stock valued at $14,971,000 after acquiring an additional 532,110 shares during the last quarter. 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.