Fidelis Insurance (NYSE:FIHL) Shares Gap Down – Should You Sell?

Fidelis Insurance Holdings Limited (NYSE:FIHL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $16.93, but opened at $16.24. Fidelis Insurance shares last traded at $16.36, with a volume of 81,839 shares.

Wall Street Analysts Forecast Growth

FIHL has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Fidelis Insurance from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday. JPMorgan Chase & Co. dropped their price objective on Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Barclays decreased their target price on Fidelis Insurance from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $16.00 price target (down previously from $21.00) on shares of Fidelis Insurance in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.86.

Fidelis Insurance Trading Down 2.1 %

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 business has a fifty day simple moving average of $18.78 and a 200 day simple moving average of $18.01. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 4.08 and a beta of 0.53.

Fidelis Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Friday, November 29th. Fidelis Insurance’s payout ratio is currently 10.10%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Fidelis Insurance in the second quarter valued at approximately $140,000. Y Intercept Hong Kong Ltd acquired a new position in Fidelis Insurance in the 3rd quarter valued at $195,000. Summit Global Investments purchased a new position in shares of Fidelis Insurance during the 3rd quarter worth $238,000. Caprock Group LLC acquired a new stake in shares of Fidelis Insurance during the second quarter worth $265,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Fidelis Insurance during the third quarter worth $269,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.