Short Interest in Fidelis Insurance Holdings Limited (NYSE:FIHL) Increases By 87.8%

Fidelis Insurance Holdings Limited (NYSE:FIHL) was the recipient of a large growth in short interest in 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. Based on an average daily volume of 548,300 shares, the days-to-cover ratio is currently 3.9 days. Approximately 4.7% of the company’s stock are short sold.

Institutional Investors Weigh In On Fidelis Insurance

Several hedge funds have recently made changes to their positions in FIHL. American Century Companies Inc. grew its position in shares of Fidelis Insurance by 62.0% in the second quarter. American Century Companies Inc. now owns 3,265,564 shares of the company’s stock valued at $53,261,000 after purchasing an additional 1,249,853 shares during the last quarter. Boston Partners grew its position in shares of Fidelis Insurance by 213.7% in the first quarter. Boston Partners now owns 714,683 shares of the company’s stock valued at $13,922,000 after purchasing an additional 486,888 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Fidelis Insurance by 78.6% in the second quarter. Federated Hermes Inc. now owns 1,078,668 shares of the company’s stock valued at $17,593,000 after purchasing an additional 474,714 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Fidelis Insurance by 227.4% in the first quarter. Vanguard Group Inc. now owns 562,570 shares of the company’s stock valued at $10,959,000 after purchasing an additional 390,754 shares during the last quarter. Finally, Ghisallo Capital Management LLC grew its position in shares of Fidelis Insurance by 1,038.8% in the second quarter. Ghisallo Capital Management LLC now owns 400,000 shares of the company’s stock valued at $6,524,000 after purchasing an additional 364,875 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FIHL. Evercore ISI began coverage on Fidelis Insurance in a research note on Wednesday, July 17th. They set an “inline” rating and a $19.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on 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 reiterated a “market outperform” rating and set a $24.00 price objective on shares of Fidelis Insurance in a research note on Friday, August 16th. Barclays began coverage on Fidelis Insurance in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $21.00 price objective for the company. Finally, 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 objective for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Fidelis Insurance currently has a consensus rating of “Hold” and a consensus price target of $19.94.

Fidelis Insurance Stock Down 1.6 %

Shares of FIHL stock traded down $0.30 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 current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $17.84 and its 200 day moving average price is $17.76. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 4.42 and a beta of -0.10. Fidelis Insurance has a twelve month low of $11.55 and a twelve month high of $20.53.

Fidelis Insurance (NYSE:FIHL) last released its quarterly earnings data 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). Fidelis Insurance had a net margin of 20.96% and a return on equity of 15.67%. The company had revenue of $547.10 million during the quarter, compared to analyst estimates of $582.19 million. As a group, sell-side analysts expect that Fidelis Insurance will post 2.94 earnings per share for the current fiscal year.

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.40 annualized dividend and a dividend yield of 2.20%. Fidelis Insurance’s dividend payout ratio (DPR) is 9.71%.

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.