Short Interest in Fidelis Insurance Holdings Limited (NYSE:FIHL) Expands By 29.1%

Fidelis Insurance Holdings Limited (NYSE:FIHL) saw a significant increase in short interest during the month of 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. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily volume of 568,600 shares, the short-interest ratio is presently 2.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FIHL. Sanctuary Advisors LLC purchased a new position in shares of Fidelis Insurance during the second quarter valued at approximately $618,000. Ghisallo Capital Management LLC boosted its holdings in 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 acquiring an additional 364,875 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new position in Fidelis Insurance during the 2nd quarter valued at $1,196,000. The Manufacturers Life Insurance Company raised its holdings in Fidelis Insurance by 3.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,327 shares of the company’s stock worth $283,000 after purchasing an additional 649 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Fidelis Insurance in the 2nd quarter worth about $566,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Trading Up 1.1 %

FIHL traded up $0.19 on Monday, hitting $17.79. 248,627 shares of the company were exchanged, compared to its average volume of 605,618. 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 12 month low of $11.55 and a 12 month high of $20.53. The firm has a fifty day simple moving average of $17.70 and a two-hundred day simple moving average of $17.73. The stock has a market capitalization of $2.10 billion, a PE ratio of 4.32 and a beta of -0.10.

Fidelis Insurance (NYSE:FIHL) last issued 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). The firm had revenue of $547.10 million during the quarter, compared to analysts’ expectations of $582.19 million. Fidelis Insurance had a return on equity of 15.67% and a net margin of 20.96%. Sell-side analysts expect that Fidelis Insurance will post 2.94 earnings per share for the current year.

Fidelis Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.40 annualized dividend and a dividend yield of 2.25%. Fidelis Insurance’s payout ratio is presently 9.71%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Fidelis Insurance from $18.50 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $24.00 price target on shares of Fidelis Insurance in a research note on Friday, August 16th. JMP Securities reiterated a “market outperform” rating and issued a $24.00 price objective on shares of Fidelis Insurance in a report on Friday, August 16th. Evercore ISI initiated coverage on Fidelis Insurance in a report on Wednesday, July 17th. They set an “inline” rating and a $19.00 price objective on the stock. Finally, Barclays began coverage on Fidelis Insurance in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $21.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.13.

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.