Fidelis Insurance Holdings Limited (NYSE:FIHL) Short Interest Update

Fidelis Insurance Holdings Limited (NYSE:FIHL) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 1,150,000 shares, an increase of 29.1% from the August 15th total of 890,500 shares. Based on an average trading volume of 568,600 shares, the days-to-cover ratio is currently 2.0 days. Approximately 2.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FIHL shares. Evercore ISI assumed coverage on Fidelis Insurance in a research note on Wednesday, July 17th. They set an “inline” rating and a $19.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Fidelis Insurance from $18.50 to $20.00 and gave the company a “neutral” rating in a research note 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 report on Friday, August 16th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $24.00 price target on shares of Fidelis Insurance in a research report on Friday, August 16th. Finally, Barclays initiated coverage on Fidelis Insurance in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $21.00 price objective for the company. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.13.

Hedge Funds Weigh In On Fidelis Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cambridge Trust Co. bought a new position in Fidelis Insurance in the first quarter worth approximately $58,000. EntryPoint Capital LLC bought a new position in shares of Fidelis Insurance in the 1st quarter worth $63,000. Ameritas Investment Partners Inc. grew its position in Fidelis Insurance by 297.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,043 shares of the company’s stock valued at $118,000 after purchasing an additional 4,523 shares during the period. California State Teachers Retirement System increased its stake in Fidelis Insurance by 144.4% during the 1st quarter. California State Teachers Retirement System now owns 6,103 shares of the company’s stock valued at $119,000 after purchasing an additional 3,606 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Fidelis Insurance during the second quarter worth $140,000. Institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Trading Up 1.1 %

Shares of NYSE:FIHL traded up $0.19 during midday trading on Monday, reaching $17.79. The company’s stock had a trading volume of 248,627 shares, compared to its average volume of 605,618. Fidelis Insurance has a fifty-two week low of $11.55 and a fifty-two week high of $20.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a 50 day moving average price of $17.70 and a two-hundred day moving average price of $17.73. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 4.32 and a beta of -0.10.

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

Fidelis Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, September 16th. Fidelis Insurance’s payout ratio is 9.71%.

Fidelis Insurance Company Profile

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.