Fidelis Insurance Holdings Limited (NYSE:FIHL) Short Interest Up 93.2% in September

Key Points

• Fidelis Insurance Holdings Limited experienced a significant increase in short interest of 93.2% in September, reaching a total of 1,990,000 shares.
• The company recently declared a quarterly dividend increase from $0.10 to $0.15, resulting in a 3.3% dividend yield.
• Equities analysts have given Fidelis Insurance a consensus rating of Hold with an average target price of $20.43, reflecting a mix of upgraded and reaffirmed ratings.

Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 1,990,000 shares, an increase of 93.2% from the August 31st total of 1,030,000 shares. Currently, 3.7% of the company's stock are sold short. Based on an average daily trading volume, of 626,900 shares, the days-to-cover ratio is currently 3.2 days. Based on an average daily trading volume, of 626,900 shares, the days-to-cover ratio is currently 3.2 days. Currently, 3.7% of the company's stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FIHL shares. Evercore ISI reaffirmed a "mixed" rating on shares of Fidelis Insurance in a research report on Wednesday. Zacks Research upgraded shares of Fidelis Insurance from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 11th. Weiss Ratings restated a "hold (c-)" rating on shares of Fidelis Insurance in a report on Saturday, September 27th. Keefe, Bruyette & Woods lifted their price objective on shares of Fidelis Insurance from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Finally, Barclays increased their target price on shares of Fidelis Insurance from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Fidelis Insurance has a consensus rating of "Hold" and an average target price of $20.43.

Hedge Funds Weigh In On Fidelis Insurance

Several large investors have recently made changes to their positions in FIHL. Principal Financial Group Inc. boosted its stake in Fidelis Insurance by 8.8% during the 1st quarter. Principal Financial Group Inc. now owns 76,356 shares of the company's stock valued at $1,237,000 after purchasing an additional 6,207 shares during the period. Joel Isaacson & Co. LLC acquired a new position in shares of Fidelis Insurance during the first quarter worth approximately $315,000. Charles Schwab Investment Management Inc. boosted its position in shares of Fidelis Insurance by 34.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 166,257 shares of the company's stock valued at $2,693,000 after acquiring an additional 43,038 shares during the period. Cooperman Leon G grew its stake in shares of Fidelis Insurance by 27.5% in the first quarter. Cooperman Leon G now owns 4,799,778 shares of the company's stock worth $77,756,000 after acquiring an additional 1,036,019 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of Fidelis Insurance by 87.7% in the first quarter. LSV Asset Management now owns 2,529,195 shares of the company's stock worth $40,973,000 after acquiring an additional 1,181,439 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Fidelis Insurance Trading Up 1.8%

NYSE:FIHL opened at $18.12 on Friday. The company's 50 day moving average is $17.02 and its 200-day moving average is $16.59. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.36. Fidelis Insurance has a 12 month low of $14.17 and a 12 month high of $21.32. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -44.19 and a beta of 0.28.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.24. Fidelis Insurance had a negative net margin of 1.70% and a negative return on equity of 1.81%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $604.62 million. Equities analysts anticipate that Fidelis Insurance will post 3.12 EPS for the current year.

Fidelis Insurance Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Tuesday, September 16th were given a $0.15 dividend. This is an increase from Fidelis Insurance's previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Fidelis Insurance's dividend payout ratio (DPR) is -146.34%.

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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