Fidelis Insurance (NYSE:FIHL) Sees Strong Trading Volume – Still a Buy?

Fidelis Insurance Holdings Limited (NYSE:FIHL) shares saw strong trading volume on Monday . 234,204 shares traded hands during trading, a decline of 37% from the previous session’s volume of 372,398 shares.The stock last traded at $17.35 and had previously closed at $17.29.

Wall Street Analysts Forecast Growth

FIHL has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price 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. The Goldman Sachs Group assumed coverage on shares of Fidelis Insurance in a research report on Tuesday, September 17th. They issued a “neutral” rating and a $18.50 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Fidelis Insurance Price Performance

The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 4.35 and a beta of 0.53. The stock’s 50-day simple moving average is $18.83 and its two-hundred day simple moving average is $18.00.

Fidelis Insurance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.32%. Fidelis Insurance’s dividend payout ratio (DPR) is presently 10.10%.

Hedge Funds Weigh In On Fidelis Insurance

Several hedge funds and other institutional investors have recently made changes to their positions in FIHL. Empowered Funds LLC purchased a new position in shares of Fidelis Insurance in the third quarter worth about $6,424,000. Principal Financial Group Inc. acquired a new stake in Fidelis Insurance in the 3rd quarter valued at about $1,144,000. Interval Partners LP lifted its stake in Fidelis Insurance by 75.6% in the 2nd quarter. Interval Partners LP now owns 248,116 shares of the company’s stock worth $4,047,000 after purchasing an additional 106,845 shares in the last quarter. Barclays PLC boosted its holdings in shares of Fidelis Insurance by 306.7% during the 3rd quarter. Barclays PLC now owns 68,184 shares of the company’s stock worth $1,231,000 after purchasing an additional 51,419 shares during the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of Fidelis Insurance in the second quarter valued at approximately $1,196,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.