Fidelis Insurance (NYSE:FIHL) Sees Unusually-High Trading Volume – Time to Buy?

Fidelis Insurance Holdings Limited (NYSE:FIHL) saw unusually-high trading volume on Monday . Approximately 234,204 shares were traded during mid-day trading, a decline of 37% from the previous session’s volume of 372,398 shares.The stock last traded at $17.35 and had previously closed at $17.29.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FIHL. JPMorgan Chase & Co. lowered their price target on Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Friday. Keefe, Bruyette & Woods increased their target price on shares of Fidelis Insurance from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group assumed coverage on shares of Fidelis Insurance in a research note on Tuesday, September 17th. They issued a “neutral” rating and a $18.50 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Fidelis Insurance has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Fidelis Insurance Stock Down 0.4 %

The business’s fifty day moving average is $18.83 and its two-hundred day moving average is $18.00. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 4.35 and a beta of 0.53. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17.

Fidelis Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were paid a $0.10 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.32%. Fidelis Insurance’s dividend payout ratio (DPR) is 10.10%.

Institutional Trading of Fidelis Insurance

Several hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC purchased a new position in Fidelis Insurance in the second quarter worth approximately $140,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Fidelis Insurance during the 3rd quarter worth $195,000. Summit Global Investments acquired a new position in shares of Fidelis Insurance during the third quarter worth $238,000. Caprock Group LLC purchased a new position in Fidelis Insurance in the second quarter valued at $265,000. Finally, Intech Investment Management LLC acquired a new stake in Fidelis Insurance in the third quarter valued at $269,000. 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.