Fidelis Insurance (NYSE:FIHL) Shares Gap Down - Here's What Happened

Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $16.94, but opened at $16.24. Fidelis Insurance shares last traded at $16.79, with a volume of 130,735 shares traded.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JMP Securities raised their price objective on Fidelis Insurance from $24.00 to $27.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Keefe, Bruyette & Woods lowered their price objective on Fidelis Insurance from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Citigroup reissued an "outperform" rating on shares of Fidelis Insurance in a research report on Friday, May 16th. JPMorgan Chase & Co. lowered their price objective on Fidelis Insurance from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, Barclays reduced their target price on Fidelis Insurance from $18.00 to $16.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Fidelis Insurance currently has a consensus rating of "Hold" and a consensus price target of $20.14.

Fidelis Insurance Price Performance

The company has a market cap of $1.80 billion, a PE ratio of 4.10 and a beta of 0.34. 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 50 day moving average of $16.67 and a 200-day moving average of $16.73.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.41) earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.02. The business had revenue of $658.40 million during the quarter, compared to analyst estimates of $578.57 million. Fidelis Insurance had a return on equity of 15.27% and a net margin of 20.17%. Equities analysts predict that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current year.

Fidelis Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.46%. Fidelis Insurance's payout ratio is currently -307.69%.

Hedge Funds Weigh In On Fidelis Insurance

Several institutional investors and hedge funds have recently modified their holdings of FIHL. Garde Capital Inc. purchased a new position in shares of Fidelis Insurance in the 1st quarter valued at about $62,000. GAMMA Investing LLC increased its stake in shares of Fidelis Insurance by 1,267.3% in the 1st quarter. GAMMA Investing LLC now owns 4,471 shares of the company's stock valued at $72,000 after purchasing an additional 4,144 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Fidelis Insurance by 1,862.9% in the 4th quarter. Venturi Wealth Management LLC now owns 6,144 shares of the company's stock valued at $111,000 after purchasing an additional 5,831 shares in the last quarter. Fiduciary Family Office LLC purchased a new position in shares of Fidelis Insurance in the 1st quarter valued at about $162,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Fidelis Insurance in the 1st quarter valued at about $181,000. Hedge funds and other 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.