Barclays Cuts Fidelis Insurance (NYSE:FIHL) Price Target to $18.00

Fidelis Insurance (NYSE:FIHL) had its target price lowered by Barclays from $20.00 to $18.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research analysts also recently commented on FIHL. Keefe, Bruyette & Woods reduced their price objective on Fidelis Insurance from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. The Goldman Sachs Group reissued a “sell” rating and issued a $16.00 price objective (down from $21.00) on shares of Fidelis Insurance in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their price objective on Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Fidelis Insurance presently has an average rating of “Hold” and an average target price of $20.29.

Fidelis Insurance Stock Down 5.6 %

NYSE FIHL opened at $14.50 on Thursday. The business has a fifty day moving average price of $16.90 and a 200 day moving average price of $17.91. Fidelis Insurance has a one year low of $13.28 and a one year high of $21.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $1.71 billion, a P/E ratio of 3.66 and a beta of 0.48.

Fidelis Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.76%. The ex-dividend date is Wednesday, March 12th. Fidelis Insurance’s payout ratio is currently 10.10%.

Institutional Trading of Fidelis Insurance

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. purchased a new position in shares of Fidelis Insurance during the 3rd quarter worth $1,144,000. Empowered Funds LLC purchased a new position in shares of Fidelis Insurance during the 3rd quarter worth $6,424,000. Barclays PLC grew 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 period. Public Employees Retirement System of Ohio purchased a new position in shares of Fidelis Insurance during the 3rd quarter worth $732,000. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Fidelis Insurance during the 4th quarter worth $1,008,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.