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

Fidelis Insurance Holdings Limited (NYSE:FIHL) saw a large decline in short interest during the month of 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. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 616,800 shares, the short-interest ratio is presently 1.4 days.

Fidelis Insurance Trading Up 0.2 %

Fidelis Insurance stock traded up $0.03 during trading on Tuesday, hitting $15.59. The company had a trading volume of 118,663 shares, compared to its average volume of 546,912. The company’s 50 day simple moving average is $15.96 and its 200-day simple moving average is $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 current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17. Fidelis Insurance has a 1-year low of $14.17 and a 1-year high of $21.32.

Fidelis Insurance (NYSE:FIHL) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of $0.93 by ($1.98). The business had revenue of $685.90 million during the quarter, compared to analyst estimates 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 expect that Fidelis Insurance will post 3.12 EPS for the current fiscal year.

Fidelis Insurance Dividend Announcement

The firm 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 $0.10 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.40 annualized dividend and a dividend yield of 2.57%. Fidelis Insurance’s dividend payout ratio (DPR) is 42.55%.

Hedge Funds Weigh In On Fidelis Insurance

Several institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its stake in shares of Fidelis Insurance by 6.7% in the fourth quarter. American Century Companies Inc. now owns 3,577,018 shares of the company’s stock worth $64,851,000 after acquiring an additional 225,952 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Fidelis Insurance by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 3,240,681 shares of the company’s stock worth $58,754,000 after purchasing an additional 162,524 shares in the last quarter. Zimmer Partners LP acquired a new position in shares of Fidelis Insurance during the fourth quarter worth $31,991,000. Citadel Advisors LLC grew its stake in shares of Fidelis Insurance by 2,922.7% during the fourth quarter. Citadel Advisors LLC now owns 1,569,863 shares of the company’s stock worth $28,462,000 after purchasing an additional 1,517,927 shares in the last quarter. Finally, LSV Asset Management acquired a new position in shares of Fidelis Insurance during the fourth quarter worth $24,435,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FIHL shares. UBS Group raised their target price on shares of Fidelis Insurance from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods decreased their target price on shares of Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. The Goldman Sachs Group reissued a “sell” rating and issued a $16.00 target price (down from $21.00) on shares of Fidelis Insurance in a research note on Wednesday, January 8th. JPMorgan Chase & Co. decreased their target price on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Finally, Barclays reduced 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 research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.57.

About Fidelis Insurance

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.