Fidelis Insurance Holdings Limited (NYSE:FIHL) Sees Large Increase in Short Interest

Fidelis Insurance Holdings Limited (NYSE:FIHL) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 2,160,000 shares, an increase of 87.8% from the August 31st total of 1,150,000 shares. Based on an average daily trading volume, of 548,300 shares, the short-interest ratio is currently 3.9 days. Approximately 4.7% of the shares of the stock are short sold.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Fidelis Insurance from $18.50 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. JMP Securities restated a “market outperform” rating and issued a $24.00 price objective on shares of Fidelis Insurance in a research report on Friday, August 16th. Barclays assumed coverage on shares of Fidelis Insurance in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $21.00 price objective on the stock. The Goldman Sachs Group assumed coverage on shares of Fidelis Insurance in a research report on Tuesday, September 17th. They issued a “neutral” rating and a $18.50 price objective on the stock. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $24.00 price objective on shares of Fidelis Insurance in a research report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.94.

Fidelis Insurance Trading Down 1.6 %

FIHL stock traded down $0.30 on Friday, reaching $18.22. The company’s stock had a trading volume of 350,915 shares, compared to its average volume of 604,321. The business has a fifty day simple moving average of $17.84 and a two-hundred day simple moving average of $17.76. Fidelis Insurance has a 12-month low of $11.55 and a 12-month high of $20.53. The firm has a market cap of $2.15 billion, a PE ratio of 4.42 and a beta of -0.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65.

Fidelis Insurance (NYSE:FIHL) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.15). The firm had revenue of $547.10 million for the quarter, compared to analysts’ expectations of $582.19 million. Fidelis Insurance had a net margin of 20.96% and a return on equity of 15.67%. As a group, research analysts forecast that Fidelis Insurance will post 2.94 EPS for the current year.

Fidelis Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Monday, September 16th. Fidelis Insurance’s dividend payout ratio is presently 9.71%.

Hedge Funds Weigh In On Fidelis Insurance

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of Fidelis Insurance by 0.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 15,360,508 shares of the company’s stock worth $194,618,000 after purchasing an additional 131,657 shares during the last quarter. American Century Companies Inc. raised its position in Fidelis Insurance by 62.0% in the 2nd quarter. American Century Companies Inc. now owns 3,265,564 shares of the company’s stock worth $53,261,000 after buying an additional 1,249,853 shares during the last quarter. Federated Hermes Inc. raised its position in Fidelis Insurance by 78.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company’s stock worth $17,593,000 after buying an additional 474,714 shares during the last quarter. Russell Investments Group Ltd. raised its position in Fidelis Insurance by 3.0% in the 1st quarter. Russell Investments Group Ltd. now owns 839,237 shares of the company’s stock worth $16,348,000 after buying an additional 24,063 shares during the last quarter. Finally, Boston Partners raised its position in Fidelis Insurance by 213.7% in the 1st quarter. Boston Partners now owns 714,683 shares of the company’s stock worth $13,922,000 after buying an additional 486,888 shares during the last quarter. Hedge funds and other 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.