Fidelis Insurance Holdings Limited (NYSE:FIHL) Sees Significant Growth in Short Interest

Fidelis Insurance Holdings Limited (NYSE:FIHL) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 2,160,000 shares, a growth of 87.8% from the August 31st total of 1,150,000 shares. Currently, 4.7% of the company’s shares are short sold. Based on an average trading volume of 548,300 shares, the days-to-cover ratio is presently 3.9 days.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $24.00 target price on shares of Fidelis Insurance in a research note on Friday, August 16th. Barclays began coverage on shares of Fidelis Insurance in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $21.00 price target for the company. Evercore ISI began coverage on shares of Fidelis Insurance in a report on Wednesday, July 17th. They set an “inline” rating and a $19.00 price objective on the stock. The Goldman Sachs Group began coverage on Fidelis Insurance in a research note on Tuesday, September 17th. They set a “neutral” rating and a $18.50 price target on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $24.00 price objective on shares of Fidelis Insurance in a 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.94.

Institutional Trading of Fidelis Insurance

Several hedge funds have recently added to or reduced their stakes in the stock. Cambridge Trust Co. purchased a new stake in shares of Fidelis Insurance during the 1st quarter worth approximately $58,000. EntryPoint Capital LLC bought a new position in Fidelis Insurance during the first quarter worth about $63,000. Ameritas Investment Partners Inc. raised its position in shares of Fidelis Insurance by 297.6% in the first 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 lifted its stake in shares of 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 buying an additional 3,606 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Fidelis Insurance in the 2nd quarter worth approximately $140,000. Institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Stock Down 1.6 %

FIHL traded down $0.30 during mid-day trading on Friday, reaching $18.22. 350,915 shares of the stock were exchanged, compared to its average volume of 604,321. The company has a 50 day moving average price of $17.84 and a two-hundred day moving average price of $17.76. The stock has a market capitalization 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 has a 1 year low of $11.55 and a 1 year high of $20.53.

Fidelis Insurance (NYSE:FIHL) last posted its earnings results on Wednesday, August 14th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.15). Fidelis Insurance had a return on equity of 15.67% and a net margin of 20.96%. The firm had revenue of $547.10 million for the quarter, compared to the consensus estimate of $582.19 million. As a group, research analysts anticipate 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. Investors of record on Monday, September 16th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, September 16th. This represents a $0.40 annualized dividend and a yield of 2.20%. Fidelis Insurance’s payout ratio is currently 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.