Short Interest in Fidelis Insurance Holdings Limited (NYSE:FIHL) Drops By 29.9%

Fidelis Insurance Holdings Limited (NYSE:FIHL) saw a significant decline in short interest in February. As of February 28th, there was short interest totalling 890,700 shares, a decline of 29.9% from the February 13th total of 1,270,000 shares. Currently, 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 616,800 shares, the short-interest ratio is presently 1.4 days.

Analyst Ratings Changes

Several brokerages have issued reports on FIHL. The Goldman Sachs Group reaffirmed a “sell” rating and set a $16.00 target price (down previously from $21.00) on shares of Fidelis Insurance in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods dropped their price objective on Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. UBS Group boosted their target price on shares of Fidelis Insurance from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Barclays lowered their price target on shares of Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.57.

Fidelis Insurance Stock Performance

Shares of Fidelis Insurance stock traded up $0.46 during midday trading on Monday, hitting $15.60. The company had a trading volume of 581,753 shares, compared to its average volume of 548,642. The company has a fifty day simple moving average of $15.96 and a 200 day simple moving average of $17.56. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 3.94 and a beta of 0.61. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. Fidelis Insurance has a 12-month low of $14.17 and a 12-month high of $21.32.

Fidelis Insurance (NYSE:FIHL) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($1.98). The company had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $661.52 million. Fidelis Insurance had a return on equity of 15.27% and a net margin of 20.17%. As a group, analysts predict that Fidelis Insurance will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.40 annualized dividend and a yield of 2.56%. Fidelis Insurance’s payout ratio is presently 42.55%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. R Squared Ltd purchased a new stake in Fidelis Insurance in the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC boosted its holdings in shares of Fidelis Insurance by 1,862.9% in the 4th quarter. Venturi Wealth Management LLC now owns 6,144 shares of the company’s stock valued at $111,000 after acquiring an additional 5,831 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Fidelis Insurance in the third quarter worth $195,000. Fox Run Management L.L.C. purchased a new position in shares of Fidelis Insurance during the fourth quarter worth $235,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Fidelis Insurance during the fourth quarter valued at $247,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Limited, a specialty insurer, provides insurance and reinsurance solutions 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.