Fidelis Insurance (NYSE:FIHL) Trading Down 6.7% – Should You Sell?

Fidelis Insurance Holdings Limited (NYSE:FIHL) fell 6.7% during trading on Monday . The stock traded as low as $17.33 and last traded at $17.40. 261,387 shares were traded during mid-day trading, a decline of 56% from the average session volume of 594,757 shares. The stock had previously closed at $18.64.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FIHL shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $24.00 price objective on shares of Fidelis Insurance in a research note on Friday, August 16th. JMP Securities reiterated a “market outperform” rating and set a $24.00 price objective on shares of Fidelis Insurance in a research note on Friday, August 16th. Evercore ISI initiated coverage on Fidelis Insurance in a research note on Wednesday, July 17th. They set an “inline” rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on Fidelis Insurance from $18.50 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Finally, The Goldman Sachs Group started coverage on Fidelis Insurance in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $18.50 price target on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.44.

Fidelis Insurance Stock Up 1.9 %

The firm has a 50 day moving average of $17.93 and a two-hundred day moving average of $17.71. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 4.26 and a beta of -0.11. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18.

Fidelis Insurance (NYSE:FIHL) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.15). Fidelis Insurance had a net margin of 20.96% and a return on equity of 15.67%. The firm had revenue of $547.10 million for the quarter, compared to analyst estimates of $582.19 million. As a group, sell-side analysts anticipate that Fidelis Insurance Holdings Limited will post 2.94 EPS for the current fiscal year.

Fidelis Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Monday, September 16th. Fidelis Insurance’s dividend payout ratio is currently 9.71%.

Hedge Funds Weigh In On Fidelis Insurance

A number of hedge funds and other institutional investors have recently made changes to their positions in FIHL. Diversified Trust Co bought a new stake in Fidelis Insurance in the third quarter worth approximately $2,457,000. Sanctuary Advisors LLC bought a new stake in Fidelis Insurance in the second quarter worth approximately $618,000. Ghisallo Capital Management LLC increased its holdings in Fidelis Insurance by 1,038.8% in the second quarter. Ghisallo Capital Management LLC now owns 400,000 shares of the company’s stock worth $6,524,000 after purchasing an additional 364,875 shares in the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Fidelis Insurance during the second quarter valued at approximately $1,196,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Fidelis Insurance by 3.9% during the second quarter. The Manufacturers Life Insurance Company now owns 17,327 shares of the company’s stock valued at $283,000 after acquiring an additional 649 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

About Fidelis Insurance

Fidelis Insurance Holdings Limited, together with its subsidiaries, provides insurance and reinsurance products 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.