Fidelis Insurance (NYSE:FIHL) Shares Gap Down to $18.02

Fidelis Insurance Holdings Limited (NYSE:FIHL)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $18.02, but opened at $17.50. Fidelis Insurance shares last traded at $17.00, with a volume of 154,720 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group reduced their price target on shares of Fidelis Insurance from $22.50 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. Evercore ISI assumed coverage on Fidelis Insurance in a research note on Wednesday, July 17th. They issued an “inline” rating and a $19.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Fidelis Insurance from $18.50 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Fidelis Insurance has an average rating of “Moderate Buy” and an average target price of $20.00.

Fidelis Insurance Stock Down 2.6 %

The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 4.13 and a beta of -0.10. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $16.73 and a 200 day moving average price of $16.92.

Institutional Trading of Fidelis Insurance

Several institutional investors have recently modified their holdings of FIHL. Lighthouse Investment Partners LLC bought a new stake in shares of Fidelis Insurance in the 2nd quarter valued at about $1,196,000. The Manufacturers Life Insurance Company boosted its holdings in Fidelis Insurance by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 17,327 shares of the company’s stock valued at $283,000 after acquiring an additional 649 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Fidelis Insurance during the 2nd quarter valued at approximately $566,000. Marshall Wace LLP raised its holdings in Fidelis Insurance by 836.3% during the 2nd quarter. Marshall Wace LLP now owns 154,663 shares of the company’s stock worth $2,523,000 after purchasing an additional 138,144 shares during the last quarter. Finally, Interval Partners LP boosted its stake in shares of Fidelis Insurance by 75.6% in the 2nd quarter. Interval Partners LP now owns 248,116 shares of the company’s stock valued at $4,047,000 after purchasing an additional 106,845 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

About Fidelis Insurance

Fidelis Insurance Holdings Limited, together with its subsidiaries, provides insurance and reinsurance products 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.