Barclays Initiates Coverage on Fidelis Insurance (NYSE:FIHL)

Equities researchers at Barclays initiated coverage on shares of Fidelis Insurance (NYSE:FIHL) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage set an “equal weight” rating and a $21.00 price target on the stock. Barclays‘s price target would indicate a potential upside of 16.09% from the company’s current price.

Several other brokerages have also recently issued reports on FIHL. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of Fidelis Insurance in a research note on Friday, August 16th. Evercore ISI started coverage on Fidelis Insurance in a report on Wednesday, July 17th. They issued an “inline” rating and a $19.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on Fidelis Insurance from $18.50 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. UBS Group decreased their price target on Fidelis Insurance from $22.50 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, May 14th. Finally, JMP Securities restated a “market outperform” rating and set a $24.00 price objective on shares of Fidelis Insurance in a report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Fidelis Insurance presently has an average rating of “Hold” and a consensus target price of $20.13.

Fidelis Insurance Stock Down 1.1 %

FIHL opened at $18.09 on Wednesday. The stock’s fifty day moving average is $17.48 and its 200-day moving average is $17.49. Fidelis Insurance has a one year low of $11.55 and a one year high of $20.53. The company has a market capitalization of $2.13 billion, a PE ratio of 4.39 and a beta of -0.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its stake in shares of Fidelis Insurance by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 17,327 shares of the company’s stock worth $283,000 after purchasing an additional 649 shares during the period. Prospector Partners LLC increased its position in Fidelis Insurance by 0.4% in the 4th quarter. Prospector Partners LLC now owns 564,593 shares of the company’s stock worth $7,153,000 after buying an additional 2,395 shares during the period. Cambridge Trust Co. acquired a new position in shares of Fidelis Insurance during the first quarter worth approximately $58,000. EntryPoint Capital LLC bought a new stake in shares of Fidelis Insurance in the first quarter valued at approximately $63,000. Finally, California State Teachers Retirement System grew its stake in shares of Fidelis Insurance by 144.4% in the first quarter. California State Teachers Retirement System now owns 6,103 shares of the company’s stock worth $119,000 after acquiring an additional 3,606 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

About Fidelis Insurance

Fidelis Insurance Holdings Limited, together with its subsidiaries, provides insurance and reinsurance products 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.