Fidelis Insurance (NYSE:FIHL) Sees Unusually-High Trading Volume – Here’s Why

Fidelis Insurance Holdings Limited (NYSE:FIHL) saw unusually-high 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 Ratings Changes

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

Fidelis Insurance Trading Down 2.3 %

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 PE ratio of 4.18 and a beta of 0.30. The business’s 50-day moving average is $18.81 and its two-hundred day moving average is $18.03.

Fidelis Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.42%. Fidelis Insurance’s dividend payout ratio (DPR) is 10.10%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in Fidelis Insurance during the 2nd quarter worth approximately $140,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Fidelis Insurance in the third quarter valued at approximately $195,000. Summit Global Investments acquired a new position in Fidelis Insurance during the third quarter worth $238,000. Caprock Group LLC acquired a new stake in Fidelis Insurance in the second quarter valued at $265,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Fidelis Insurance during the 3rd quarter worth $269,000. 81.99% of the stock is owned by hedge funds and other 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.