Barclays Issues Pessimistic Forecast for Fidelis Insurance (NYSE:FIHL) Stock Price

Fidelis Insurance (NYSE:FIHL) had its target price dropped by equities research analysts at Barclays from $18.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 2.50% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. UBS Group increased their price objective on shares of Fidelis Insurance from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Keefe, Bruyette & Woods dropped their price target on shares of Fidelis Insurance from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on Fidelis Insurance from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $16.00 target price (down from $21.00) on shares of Fidelis Insurance in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.71.

Fidelis Insurance Stock Performance

Shares of NYSE FIHL opened at $15.61 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $15.63 and its two-hundred day moving average price is $17.23. Fidelis Insurance has a 52-week low of $14.17 and a 52-week high of $21.32. The stock has a market capitalization of $1.74 billion, a P/E ratio of 3.94 and a beta of 0.28.

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

Hedge Funds Weigh In On Fidelis Insurance

Several hedge funds have recently modified their holdings of the company. R Squared Ltd bought a new position in Fidelis Insurance during the fourth quarter valued at about $26,000. GAMMA Investing LLC boosted its position in shares of Fidelis Insurance by 1,267.3% during the 1st quarter. GAMMA Investing LLC now owns 4,471 shares of the company’s stock valued at $72,000 after purchasing an additional 4,144 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Fidelis Insurance by 1,862.9% in the 4th quarter. Venturi Wealth Management LLC now owns 6,144 shares of the company’s stock worth $111,000 after purchasing an additional 5,831 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Fidelis Insurance in the 3rd quarter worth approximately $195,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Fidelis Insurance in the 4th quarter worth approximately $235,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.