Fidelis Insurance (NYSE:FIHL) Trading Down 5.1% - Time to Sell?

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 stock price was down 5.1% during trading on Friday . The stock traded as low as $16.36 and last traded at $16.24. Approximately 236,607 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 645,355 shares. The stock had previously closed at $17.11.

Analyst Ratings Changes

Several brokerages have recently weighed in on FIHL. JMP Securities raised their target price on Fidelis Insurance from $24.00 to $27.00 and gave the company a "market outperform" rating in a research note on Friday, May 16th. Citigroup reiterated an "outperform" rating on shares of Fidelis Insurance in a research note on Friday, May 16th. Keefe, Bruyette & Woods lifted their price target on Fidelis Insurance from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Finally, Barclays lifted their price target on Fidelis Insurance from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $20.67.

Fidelis Insurance Price Performance

The stock's 50-day moving average price is $16.14 and its 200 day moving average price is $16.16. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -39.35 and a beta of 0.25. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.19.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.24. Fidelis Insurance had a negative net margin of 1.70% and a negative return on equity of 1.78%. The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $604.62 million. Equities research analysts predict that Fidelis Insurance Holdings Limited will post 3.12 earnings per share for the current year.

Institutional Trading of Fidelis Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of FIHL. JPMorgan Chase & Co. raised its stake in Fidelis Insurance by 33.0% in the 4th quarter. JPMorgan Chase & Co. now owns 151,156 shares of the company's stock worth $2,740,000 after purchasing an additional 37,544 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Fidelis Insurance by 77.6% in the 4th quarter. Wells Fargo & Company MN now owns 42,484 shares of the company's stock valued at $770,000 after buying an additional 18,562 shares during the period. Envestnet Asset Management Inc. increased its holdings in Fidelis Insurance by 3.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 64,379 shares of the company's stock valued at $1,167,000 after buying an additional 1,967 shares during the period. Invesco Ltd. increased its holdings in Fidelis Insurance by 1.6% in the 4th quarter. Invesco Ltd. now owns 91,317 shares of the company's stock valued at $1,656,000 after buying an additional 1,475 shares during the period. Finally, Legal & General Group Plc grew its holdings in Fidelis Insurance by 38.8% during the 4th quarter. Legal & General Group Plc now owns 19,971 shares of the company's stock worth $362,000 after acquiring an additional 5,583 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.

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