Fidelis Insurance Holdings Limited (NYSE:FIHL) Short Interest Down 13.3% in May

Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 753,600 shares, a decline of 13.3% from the April 30th total of 868,900 shares. Approximately 1.4% of the company's shares are sold short. Based on an average daily trading volume, of 631,000 shares, the short-interest ratio is presently 1.2 days.

Fidelis Insurance Price Performance

NYSE FIHL traded up $0.30 on Wednesday, hitting $17.87. 1,017,301 shares of the company were exchanged, compared to its average volume of 555,192. Fidelis Insurance has a 1-year low of $14.17 and a 1-year high of $21.32. The company has a market cap of $1.98 billion, a P/E ratio of 4.51 and a beta of 0.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $16.52 and a two-hundred day moving average of $16.91.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.41) earnings per share for the quarter, topping analysts' consensus estimates of ($0.43) by $0.02. The company had revenue of $658.40 million during the quarter, compared to the consensus estimate of $578.57 million. Fidelis Insurance had a return on equity of 15.27% and a net margin of 20.17%. On average, equities analysts predict that Fidelis Insurance will post 3.12 EPS for the current year.

Fidelis Insurance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, June 16th. Fidelis Insurance's dividend payout ratio (DPR) is -307.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Fidelis Insurance by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,177 shares of the company's stock valued at $529,000 after acquiring an additional 661 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Fidelis Insurance in the 4th quarter valued at about $26,000. Sterling Capital Management LLC raised its stake in shares of Fidelis Insurance by 6.5% in the 4th quarter. Sterling Capital Management LLC now owns 23,889 shares of the company's stock valued at $433,000 after purchasing an additional 1,448 shares during the period. Invesco Ltd. lifted its holdings in shares of Fidelis Insurance by 1.6% in the fourth quarter. Invesco Ltd. now owns 91,317 shares of the company's stock valued at $1,656,000 after purchasing an additional 1,475 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. boosted its position in shares of Fidelis Insurance by 0.9% during the first quarter. Uniplan Investment Counsel Inc. now owns 208,868 shares of the company's stock worth $3,384,000 after buying an additional 1,793 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FIHL shares. UBS Group upped their target price on Fidelis Insurance from $23.00 to $25.00 and gave the company a "buy" rating in a report on Friday, March 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Fidelis Insurance from $22.00 to $20.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Barclays decreased their target price on shares of Fidelis Insurance from $18.00 to $16.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. JMP Securities boosted their price target on shares of Fidelis Insurance from $24.00 to $27.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. cut their price objective on Fidelis Insurance from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Fidelis Insurance presently has a consensus rating of "Hold" and an average price target of $20.14.

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.

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