JPMorgan Chase & Co. Cuts Fidelis Insurance (NYSE:FIHL) Price Target to $20.00

Fidelis Insurance (NYSE:FIHL) had its price objective cut by JPMorgan Chase & Co. from $21.00 to $20.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently commented on the company. The Goldman Sachs Group began coverage on Fidelis Insurance in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $18.50 price target for the company. Keefe, Bruyette & Woods raised their target price on shares of Fidelis Insurance from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Fidelis Insurance Price Performance

Fidelis Insurance stock opened at $17.29 on Friday. The stock’s fifty day moving average price is $18.83 and its two-hundred day moving average price is $18.00. The firm has a market cap of $2.04 billion, a PE ratio of 4.37 and a beta of 0.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68. Fidelis Insurance has a one year low of $11.80 and a one year high of $21.32.

Fidelis Insurance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.31%. Fidelis Insurance’s dividend payout ratio (DPR) is currently 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 stock. Empowered Funds LLC acquired a new stake in Fidelis Insurance in the third quarter valued at approximately $6,424,000. Principal Financial Group Inc. bought a new position in shares of Fidelis Insurance in the 3rd quarter valued at $1,144,000. Interval Partners LP boosted its holdings in shares of Fidelis Insurance by 75.6% during the 2nd quarter. Interval Partners LP now owns 248,116 shares of the company’s stock valued at $4,047,000 after acquiring an additional 106,845 shares in the last quarter. Barclays PLC grew its position in 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 acquiring an additional 51,419 shares during the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new position in Fidelis Insurance in the 2nd quarter worth about $1,196,000. 81.99% of the stock is owned by institutional investors.

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.