Fidelis Insurance (NYSE:FIHL) Reaches New 52-Week Low – Here’s Why

Fidelis Insurance Holdings Limited (NYSE:FIHL)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $14.26 and last traded at $14.41, with a volume of 101250 shares trading hands. The stock had previously closed at $14.52.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FIHL. Barclays lowered their target price on shares of Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. UBS Group decreased their target price on Fidelis Insurance from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday. The Goldman Sachs Group reissued a “sell” rating and issued a $16.00 price target (down from $21.00) on shares of Fidelis Insurance in a research note on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Fidelis Insurance currently has a consensus rating of “Hold” and an average target price of $20.29.

Fidelis Insurance Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68. The company has a fifty day moving average price of $16.90 and a 200 day moving average price of $17.92. The stock has a market cap of $1.72 billion, a P/E ratio of 3.69 and a beta of 0.49.

Fidelis Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.40 annualized dividend and a yield of 2.74%. Fidelis Insurance’s payout ratio is 10.10%.

Institutional Investors Weigh In On Fidelis Insurance

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Zimmer Partners LP acquired a new position in Fidelis Insurance during the 4th quarter valued at about $31,991,000. Citadel Advisors LLC lifted its holdings in shares of Fidelis Insurance by 2,922.7% in the fourth quarter. Citadel Advisors LLC now owns 1,569,863 shares of the company’s stock valued at $28,462,000 after purchasing an additional 1,517,927 shares in the last quarter. LSV Asset Management purchased a new position in shares of Fidelis Insurance during the fourth quarter valued at approximately $24,435,000. Wellington Management Group LLP grew its holdings in Fidelis Insurance by 76.4% during the third quarter. Wellington Management Group LLP now owns 3,078,157 shares of the company’s stock worth $55,592,000 after buying an additional 1,332,896 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Fidelis Insurance by 181.2% in the fourth quarter. Millennium Management LLC now owns 825,772 shares of the company’s stock valued at $14,971,000 after purchasing an additional 532,110 shares during the last quarter. 81.99% of the stock is owned by 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.