Fidelis Insurance (NYSE:FIHL) Given New $20.00 Price Target at JPMorgan Chase & Co.

Fidelis Insurance (NYSE:FIHL) had its price objective reduced by JPMorgan Chase & Co. from $21.00 to $20.00 in a research note published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research firms have also recently commented on FIHL. The Goldman Sachs Group initiated coverage on shares of Fidelis Insurance in a report on Tuesday, September 17th. They issued a “neutral” rating and a $18.50 target price for the company. Keefe, Bruyette & Woods increased their price objective on shares of Fidelis Insurance from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Fidelis Insurance presently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Fidelis Insurance Trading Down 3.8 %

Shares of FIHL opened at $17.29 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.68 and a current ratio of 0.68. Fidelis Insurance has a 52-week low of $11.80 and a 52-week high of $21.32. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 4.37 and a beta of 0.29. The business’s fifty day moving average is $18.83 and its 200-day moving average is $17.99.

Fidelis Insurance Announces Dividend

The business 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 of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.31%. Fidelis Insurance’s dividend payout ratio (DPR) is presently 10.10%.

Hedge Funds Weigh In On Fidelis Insurance

A number of hedge funds have recently made changes to their positions in FIHL. The Manufacturers Life Insurance Company increased its position in Fidelis Insurance by 3.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,327 shares of the company’s stock valued at $283,000 after purchasing an additional 649 shares during the period. Prospector Partners LLC increased its position in shares of Fidelis Insurance by 0.6% during the second quarter. Prospector Partners LLC now owns 577,628 shares of the company’s stock worth $9,421,000 after buying an additional 3,710 shares during the period. Martingale Asset Management L P raised its stake in Fidelis Insurance by 6.7% during the third quarter. Martingale Asset Management L P now owns 127,593 shares of the company’s stock worth $2,304,000 after buying an additional 7,997 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Fidelis Insurance in the second quarter valued at $140,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Fidelis Insurance by 7.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 124,828 shares of the company’s stock valued at $2,254,000 after acquiring an additional 8,992 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

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.