Fidelis Insurance (NYSE:FIHL) Shares Gap Down to $18.02

Fidelis Insurance Holdings Limited (NYSE:FIHL)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $18.02, but opened at $17.50. Fidelis Insurance shares last traded at $17.00, with a volume of 154,720 shares changing hands.

Analyst Ratings Changes

FIHL has been the topic of a number of analyst reports. UBS Group lowered their price objective on Fidelis Insurance from $22.50 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. Evercore ISI began coverage on Fidelis Insurance in a research report on Wednesday, July 17th. They set an “inline” rating and a $19.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Fidelis Insurance from $18.50 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Fidelis Insurance Price Performance

The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 4.13 and a beta of -0.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.68 and a current ratio of 0.68. The stock’s 50 day simple moving average is $16.73 and its 200-day simple moving average is $16.92.

Hedge Funds Weigh In On Fidelis Insurance

A number of institutional investors have recently bought and sold shares of FIHL. The Manufacturers Life Insurance Company boosted its stake in shares of Fidelis Insurance by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 17,327 shares of the company’s stock worth $283,000 after buying an additional 649 shares during the last quarter. Prospector Partners LLC raised its holdings in Fidelis Insurance by 0.4% in the 4th quarter. Prospector Partners LLC now owns 564,593 shares of the company’s stock worth $7,153,000 after purchasing an additional 2,395 shares during the period. Cambridge Trust Co. acquired a new position in shares of Fidelis Insurance during the 1st quarter worth approximately $58,000. EntryPoint Capital LLC acquired a new stake in shares of Fidelis Insurance in the first quarter valued at about $63,000. Finally, California State Teachers Retirement System increased its stake in shares of Fidelis Insurance by 144.4% during the first quarter. California State Teachers Retirement System now owns 6,103 shares of the company’s stock worth $119,000 after purchasing an additional 3,606 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.