The Goldman Sachs Group Reaffirms “Sell” Rating for Fidelis Insurance (NYSE:FIHL)

Fidelis Insurance (NYSE:FIHL)‘s stock had its “sell” rating reaffirmed by analysts at The Goldman Sachs Group in a research note issued on Wednesday, Marketbeat.com reports. They presently have a $16.00 price objective on the stock, down from their previous price objective of $21.00. The Goldman Sachs Group’s price target would suggest a potential downside of 3.26% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Barclays reduced their target price on Fidelis Insurance from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday. Keefe, Bruyette & Woods boosted their price target 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. Finally, JPMorgan Chase & Co. dropped their price objective on Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Fidelis Insurance has an average rating of “Hold” and a consensus target price of $21.00.

Fidelis Insurance Stock Performance

FIHL stock opened at $16.54 on Wednesday. Fidelis Insurance has a twelve month low of $11.80 and a twelve month high of $21.32. 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 company has a market cap of $1.95 billion, a P/E ratio of 4.18 and a beta of 0.53. The business’s fifty day moving average is $18.79 and its 200-day moving average is $18.02.

Hedge Funds Weigh In On Fidelis Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in shares of Fidelis Insurance by 76.4% during the third quarter. Wellington Management Group LLP now owns 3,078,157 shares of the company’s stock worth $55,592,000 after buying an additional 1,332,896 shares during the period. American Century Companies Inc. lifted its stake in Fidelis Insurance by 62.0% in the 2nd quarter. American Century Companies Inc. now owns 3,265,564 shares of the company’s stock valued at $53,261,000 after acquiring an additional 1,249,853 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Fidelis Insurance by 78.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company’s stock worth $17,593,000 after acquiring an additional 474,714 shares in the last quarter. Ghisallo Capital Management LLC grew its stake in shares of Fidelis Insurance by 1,038.8% during the 2nd quarter. Ghisallo Capital Management LLC now owns 400,000 shares of the company’s stock worth $6,524,000 after acquiring an additional 364,875 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Fidelis Insurance in the third quarter worth $6,424,000. 81.99% of the stock is 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.