UBS Group Cuts Fidelis Insurance (NYSE:FIHL) Price Target to $23.00

Fidelis Insurance (NYSE:FIHL) had its price objective reduced by UBS Group from $25.00 to $23.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

FIHL has been the topic of several other research reports. Barclays reduced their price target on shares of Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $16.00 price target (down previously from $21.00) on shares of Fidelis Insurance in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Fidelis Insurance has an average rating of “Hold” and a consensus target price of $20.29.

Fidelis Insurance Price Performance

Fidelis Insurance stock opened at $14.50 on Thursday. 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 company has a 50-day moving average price of $16.90 and a 200 day moving average price of $17.91. Fidelis Insurance has a 12-month low of $13.28 and a 12-month high of $21.32. The stock 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 company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th will be given 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 dividend payout ratio is currently 10.10%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FIHL. R Squared Ltd purchased a new stake in Fidelis Insurance during the 4th quarter worth approximately $26,000. Venturi Wealth Management LLC grew its stake in shares of Fidelis Insurance by 1,862.9% in the fourth quarter. Venturi Wealth Management LLC now owns 6,144 shares of the company’s stock worth $111,000 after acquiring an additional 5,831 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Fidelis Insurance during the third quarter worth $195,000. Fox Run Management L.L.C. acquired a new stake in shares of Fidelis Insurance in the fourth quarter valued at $235,000. Finally, Summit Global Investments purchased a new position in Fidelis Insurance in the third quarter valued at $238,000. Hedge funds and other 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.