Fidelis Insurance (NYSE:FIHL) Receives “Sell” Rating from The Goldman Sachs Group

The Goldman Sachs Group reiterated their sell rating on shares of Fidelis Insurance (NYSE:FIHL) in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have a $16.00 price objective on the stock, down from their prior price objective of $21.00.

Several other research firms have also commented on FIHL. Barclays reduced their price target on shares of Fidelis Insurance from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday. Keefe, Bruyette & Woods upped their target price on shares of Fidelis Insurance from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Fidelis Insurance presently has a consensus rating of “Hold” and an average target price of $21.00.

Fidelis Insurance Stock Performance

Shares of FIHL opened at $16.54 on Wednesday. Fidelis Insurance has a one year low of $11.80 and a one year high of $21.32. The business has a fifty day moving average of $18.81 and a 200 day moving average of $18.03. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $1.95 billion, a P/E ratio of 4.18 and a beta of 0.53.

Fidelis Insurance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a $0.10 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.42%. Fidelis Insurance’s payout ratio is currently 10.10%.

Institutional Investors Weigh In On Fidelis Insurance

A number of institutional investors have recently bought and sold shares of the business. Natixis Advisors LLC bought a new position in shares of Fidelis Insurance in the second quarter worth about $1,108,000. Caprock Group LLC purchased a new position in Fidelis Insurance in the 2nd quarter worth approximately $265,000. Ashton Thomas Private Wealth LLC bought a new position in Fidelis Insurance in the 2nd quarter worth approximately $140,000. American Century Companies Inc. grew its holdings in Fidelis Insurance by 62.0% during the 2nd quarter. American Century Companies Inc. now owns 3,265,564 shares of the company’s stock valued at $53,261,000 after buying an additional 1,249,853 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Fidelis Insurance by 78.6% during the second quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company’s stock valued at $17,593,000 after buying an additional 474,714 shares during the last quarter. Hedge funds and other institutional investors 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.