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

Fidelis Insurance Holdings Limited (NYSE:FIHL) shares saw unusually-strong trading volume on Monday . Approximately 234,204 shares traded hands 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.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FIHL shares. Barclays cut their price objective on Fidelis Insurance from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday. The Goldman Sachs Group reissued a “sell” rating and issued a $16.00 price target (down from $21.00) on shares of Fidelis Insurance in a research note on Wednesday. Keefe, Bruyette & Woods increased their price objective on shares of Fidelis Insurance from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. cut their price objective on Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fidelis Insurance presently has an average rating of “Hold” and a consensus target price of $21.00.

Fidelis Insurance Price Performance

The company has a 50 day moving average of $18.81 and a 200 day moving average of $18.03. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 4.18 and a beta of 0.30.

Fidelis Insurance Announces Dividend

The company also recently disclosed 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 2.42%. Fidelis Insurance’s payout ratio is 10.10%.

Institutional Trading of Fidelis Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Fidelis Insurance during the 2nd quarter worth about $140,000. Y Intercept Hong Kong Ltd acquired a new stake in Fidelis Insurance during the third quarter worth approximately $195,000. Summit Global Investments purchased a new stake in shares of Fidelis Insurance during the 3rd quarter worth approximately $238,000. Caprock Group LLC acquired a new position in shares of Fidelis Insurance in the 2nd quarter valued at $265,000. Finally, Intech Investment Management LLC purchased a new position in shares of Fidelis Insurance in the 3rd 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.