The Goldman Sachs Group Reaffirms Sell Rating for Fidelis Insurance (NYSE:FIHL)

The Goldman Sachs Group reaffirmed their sell rating on shares of Fidelis Insurance (NYSE:FIHL) in a research note released on Wednesday, MarketBeat Ratings reports. The firm currently has a $16.00 price objective on the stock, down from their previous price objective of $21.00.

Several other brokerages have also issued reports on FIHL. Keefe, Bruyette & Woods upped their price target on Fidelis Insurance from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. reduced their target price 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. Finally, Barclays cut their price objective on shares of Fidelis Insurance from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Fidelis Insurance presently has a consensus rating of “Hold” and a consensus target price of $20.86.

Fidelis Insurance Price Performance

Shares of FIHL stock opened at $16.16 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $18.78 and its 200-day moving average is $18.01. Fidelis Insurance has a 1 year low of $11.94 and a 1 year high of $21.32. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 4.08 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. Stockholders of record on Friday, November 29th were given a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.48%. Fidelis Insurance’s dividend payout ratio is 10.10%.

Institutional Trading of Fidelis Insurance

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in Fidelis Insurance by 76.4% in the third quarter. Wellington Management Group LLP now owns 3,078,157 shares of the company’s stock valued at $55,592,000 after acquiring an additional 1,332,896 shares during the period. American Century Companies Inc. increased its stake 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 worth $53,261,000 after purchasing an additional 1,249,853 shares in the last quarter. Federated Hermes Inc. raised its holdings in Fidelis Insurance by 78.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company’s stock worth $17,593,000 after buying an additional 474,714 shares during the period. Ghisallo Capital Management LLC lifted its stake 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 valued at $6,524,000 after buying an additional 364,875 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in Fidelis Insurance in the third quarter valued at approximately $6,424,000. 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.