Fidelis Insurance (NYSE:FIHL) Receives Sell Rating from The Goldman Sachs Group

Fidelis Insurance (NYSE:FIHL)‘s stock had its “sell” rating reiterated by equities research analysts at The Goldman Sachs Group in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They currently have a $16.00 price target on the stock, down from their prior price target of $21.00. The Goldman Sachs Group’s price objective would suggest a potential downside of 3.26% from the company’s previous close.

Several other analysts have also issued reports on FIHL. Barclays dropped their price objective on Fidelis Insurance from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods raised their price target on Fidelis Insurance from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Fidelis Insurance has a consensus rating of “Hold” and an average target price of $21.00.

Fidelis Insurance Stock Down 2.3 %

Fidelis Insurance stock opened at $16.54 on Wednesday. Fidelis Insurance has a fifty-two week low of $11.80 and a fifty-two week high of $21.32. The firm has a market capitalization of $1.95 billion, a PE ratio of 4.18 and a beta of 0.53. The company’s 50-day moving average is $18.79 and its 200-day moving average is $18.02. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68.

Hedge Funds Weigh In On Fidelis Insurance

A number of hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in Fidelis Insurance by 3.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,327 shares of the company’s stock valued at $283,000 after purchasing an additional 649 shares during the period. Prospector Partners LLC boosted its stake in shares of Fidelis Insurance by 0.6% in the second quarter. Prospector Partners LLC now owns 577,628 shares of the company’s stock valued at $9,421,000 after buying an additional 3,710 shares during the period. Martingale Asset Management L P grew its position in Fidelis Insurance by 6.7% during the third quarter. Martingale Asset Management L P now owns 127,593 shares of the company’s stock worth $2,304,000 after buying an additional 7,997 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Fidelis Insurance during the 2nd quarter worth $140,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Fidelis Insurance by 7.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 124,828 shares of the company’s stock valued at $2,254,000 after acquiring an additional 8,992 shares in the last quarter. 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.