JPMorgan Chase & Co. Reaffirms Underweight Rating for Fidelis Insurance (NYSE:FIHL)

Fidelis Insurance (NYSE:FIHL)‘s stock had its “underweight” rating restated by equities research analysts at JPMorgan Chase & Co. in a report released on Wednesday, MarketBeat Ratings reports. They currently have a $21.00 target price on the stock, up from their previous target price of $19.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 9.05% from the stock’s current price.

Other analysts have also issued research reports about the company. Zacks Research raised Fidelis Insurance from a “strong sell” rating to a “hold” rating in a report on Thursday, September 11th. Keefe, Bruyette & Woods boosted their price objective on Fidelis Insurance from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Fidelis Insurance in a report on Monday, December 29th. Evercore ISI raised their target price on shares of Fidelis Insurance from $19.00 to $20.00 and gave the stock an “in-line” rating in a research note on Thursday, November 13th. Finally, Wall Street Zen lowered shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.00.

Fidelis Insurance Stock Up 0.8%

Shares of FIHL stock opened at $19.26 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35. Fidelis Insurance has a 12 month low of $14.17 and a 12 month high of $19.83. The stock has a market cap of $2.13 billion, a P/E ratio of -385.16 and a beta of 0.24. The company has a 50 day simple moving average of $18.94 and a two-hundred day simple moving average of $17.68.

Fidelis Insurance (NYSE:FIHL) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.02. The business had revenue of $651.90 million for the quarter, compared to analysts’ expectations of $676.79 million. Fidelis Insurance had a negative net margin of 0.56% and a negative return on equity of 0.94%. On average, research analysts expect that Fidelis Insurance will post 3.12 earnings per share for the current year.

Institutional Trading of Fidelis Insurance

Large investors have recently made changes to their positions in the business. Royce & Associates LP raised its holdings in shares of Fidelis Insurance by 2,333.5% in the third quarter. Royce & Associates LP now owns 1,591,259 shares of the company’s stock valued at $28,881,000 after acquiring an additional 1,525,868 shares in the last quarter. Cooperman Leon G increased its position in Fidelis Insurance by 14.8% during the 3rd quarter. Cooperman Leon G now owns 6,662,469 shares of the company’s stock valued at $120,924,000 after purchasing an additional 856,413 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Fidelis Insurance by 332.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 937,527 shares of the company’s stock valued at $15,544,000 after purchasing an additional 720,734 shares in the last quarter. LSV Asset Management lifted its position in shares of Fidelis Insurance by 23.3% in the 2nd quarter. LSV Asset Management now owns 3,119,180 shares of the company’s stock worth $51,716,000 after purchasing an additional 589,985 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Fidelis Insurance by 113.9% in the 3rd quarter. Millennium Management LLC now owns 924,380 shares of the company’s stock worth $16,777,000 after purchasing an additional 492,253 shares during the period. 81.99% of the stock is currently owned by institutional investors.

About Fidelis Insurance

Fidelis Insurance Holdings Ltd is a Bermuda‐incorporated specialty insurer and reinsurer that underwrites a broad range of liability and property risks. Founded in 2015, the company completed its initial public offering on the New York Stock Exchange in 2016 under the ticker FIHL. Fidelis focuses on providing tailored solutions for complex risks that traditional insurers may find difficult to accommodate, leveraging data analytics and underwriting expertise to structure policies across diverse industry segments.

The company’s product portfolio spans casualty lines—including general liability, excess and umbrella, professional indemnity, and management liability—alongside property, marine, energy and specialty programs.