Fidelis Insurance (NYSE:FIHL) Shares Down 5.1% - What's Next?

Key Points

• Fidelis Insurance's stock price decreased by 5.1%, closing at $16.24, with trading volume down 63% from its average.
• Analyst ratings are mixed, with a consensus rating of "Hold" and an average price target of $20.67, while JMP Securities raised its target price to $27.00.
• Institutional investors own 81.99% of Fidelis, with significant increases in holdings from major firms like JPMorgan Chase & Co. and Wells Fargo.

Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report)'s share price fell 5.1% on Friday . The company traded as low as $16.36 and last traded at $16.24. 236,607 shares were traded during trading, a decline of 63% from the average session volume of 645,355 shares. The stock had previously closed at $17.11.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FIHL. Keefe, Bruyette & Woods upped their price objective on Fidelis Insurance from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Citigroup reaffirmed an "outperform" rating on shares of Fidelis Insurance in a research report on Friday, May 16th. Barclays upped their price objective on Fidelis Insurance from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Zacks Research lowered Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 13th. Finally, JMP Securities upped 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. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Fidelis Insurance has a consensus rating of "Hold" and a consensus target price of $20.67.

Fidelis Insurance Trading Up 1.6%

The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.71. The business's 50 day moving average is $16.13 and its 200 day moving average is $16.17. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -42.88 and a beta of 0.25.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.24. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $604.62 million. Fidelis Insurance had a negative net margin of 1.70% and a negative return on equity of 1.81%. As a group, equities analysts expect that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fidelis Insurance

Several large investors have recently bought and sold shares of the stock. Cooperman Leon G boosted its stake in Fidelis Insurance by 27.5% in the first quarter. Cooperman Leon G now owns 4,799,778 shares of the company's stock valued at $77,756,000 after acquiring an additional 1,036,019 shares in the last quarter. American Century Companies Inc. boosted its stake in Fidelis Insurance by 6.9% in the first quarter. American Century Companies Inc. now owns 3,825,159 shares of the company's stock valued at $61,968,000 after acquiring an additional 248,141 shares in the last quarter. Wellington Management Group LLP boosted its stake in Fidelis Insurance by 4.5% in the first quarter. Wellington Management Group LLP now owns 3,386,797 shares of the company's stock valued at $54,866,000 after acquiring an additional 146,116 shares in the last quarter. LSV Asset Management boosted its stake in Fidelis Insurance by 23.3% in the second quarter. LSV Asset Management now owns 3,119,180 shares of the company's stock valued at $51,716,000 after acquiring an additional 589,985 shares in the last quarter. Finally, Zimmer Partners LP acquired a new position in Fidelis Insurance in the fourth quarter valued at $31,991,000. Institutional investors and hedge funds 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.