JPMorgan Chase & Co. Lowers Fidelis Insurance (NYSE:FIHL) Price Target to $18.00

Fidelis Insurance (NYSE:FIHL) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $19.00 to $18.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 15.61% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. UBS Group lifted their price objective on Fidelis Insurance from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, March 7th. The Goldman Sachs Group restated a “sell” rating and set a $16.00 target price (down previously from $21.00) on shares of Fidelis Insurance in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods reduced their price target on Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, Barclays cut their target price on Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fidelis Insurance currently has an average rating of “Hold” and a consensus target price of $20.29.

Fidelis Insurance Stock Performance

FIHL stock traded up $0.66 during midday trading on Tuesday, hitting $15.57. The company’s stock had a trading volume of 61,627 shares, compared to its average volume of 660,150. Fidelis Insurance has a 1 year low of $14.17 and a 1 year high of $21.32. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 3.93 and a beta of 0.28. The stock’s 50-day moving average price is $15.78 and its 200 day moving average price is $17.33. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17.

Fidelis Insurance (NYSE:FIHL) last released its earnings results on Tuesday, February 25th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($1.98). The company had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $661.52 million. Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. On average, equities analysts forecast that Fidelis Insurance will post 3.12 EPS for the current year.

Institutional Trading of Fidelis Insurance

A number of hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Fidelis Insurance by 7.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 124,828 shares of the company’s stock valued at $2,254,000 after purchasing an additional 8,992 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Fidelis Insurance by 4.4% in the third quarter. The Manufacturers Life Insurance Company now owns 18,097 shares of the company’s stock worth $327,000 after purchasing an additional 770 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Fidelis Insurance by 76.4% during the 3rd 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 last quarter. Y Intercept Hong Kong Ltd bought a new position in Fidelis Insurance during the third quarter valued at approximately $195,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Fidelis Insurance in the 3rd quarter worth $732,000. Institutional investors own 81.99% of the company’s stock.

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.