Fidelis Insurance Holdings Limited (NYSE:FIHL) Short Interest Update

Key Points

• Fidelis Insurance Holdings Limited (NYSE:FIHL) experienced a 19.5% decrease in short interest in August, with 1,030,000 shares sold short as of August 31st.
• The company reported earnings of $0.12 per share for the last quarter, which exceeded expectations, alongside a notable revenue of $1.22 billion against projected figures of $604.62 million.
• The board announced an increase in the quarterly dividend from $0.10 to $0.15 per share, representing a dividend yield of 3.4% and with a payout ratio of -146.34%.

Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 1,030,000 shares, a decrease of 19.5% from the August 15th total of 1,280,000 shares. Based on an average daily volume of 689,800 shares, the short-interest ratio is currently 1.5 days. Currently, 1.9% of the company's stock are short sold. Currently, 1.9% of the company's stock are short sold. Based on an average daily volume of 689,800 shares, the short-interest ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FIHL. Keefe, Bruyette & Woods increased their price objective on shares of Fidelis Insurance from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Barclays lifted their price target on shares of Fidelis Insurance from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Finally, Zacks Research raised shares of Fidelis Insurance from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 11th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Fidelis Insurance presently has an average rating of "Hold" and an average price target of $20.67.

Fidelis Insurance Stock Down 0.7%

FIHL stock traded down $0.13 during mid-day trading on Monday, hitting $17.50. 453,158 shares of the company were exchanged, compared to its average volume of 523,525. The company has a market capitalization of $1.94 billion, a PE ratio of -42.68 and a beta of 0.26. The firm has a fifty day simple moving average of $16.69 and a 200 day simple moving average of $16.44. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36. Fidelis Insurance has a twelve month low of $14.17 and a twelve month high of $21.32.

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

Fidelis Insurance Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 16th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Fidelis Insurance's previous quarterly dividend of $0.10. Fidelis Insurance's payout ratio is currently -146.34%.

Institutional Investors Weigh In On Fidelis Insurance

Institutional investors and hedge funds have recently bought and sold shares of the business. LSV Asset Management lifted its stake in Fidelis Insurance by 87.7% in the first quarter. LSV Asset Management now owns 2,529,195 shares of the company's stock valued at $40,973,000 after buying an additional 1,181,439 shares during the last quarter. Cooperman Leon G grew its position in shares of Fidelis Insurance by 27.5% during 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. Nuveen LLC acquired a new stake in shares of Fidelis Insurance in the 1st quarter worth about $12,862,000. JPMorgan Chase & Co. lifted its position in Fidelis Insurance by 332.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 937,527 shares of the company's stock valued at $15,544,000 after purchasing an additional 720,734 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Fidelis Insurance by 181.2% during the 4th quarter. Millennium Management LLC now owns 825,772 shares of the company's stock valued at $14,971,000 after purchasing an additional 532,110 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

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.