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

Key Points

• Fidelis Insurance Holdings Limited experienced a 38.2% decrease in short interest during September, with a current short interest of 1,230,000 shares, equating to about 2.3% of the company's total shares.
• Analysts have a consensus rating of "Hold" for Fidelis Insurance, with a target price averaging $20.71, while recent upgrades were made by Barclays and Keefe, Bruyette & Woods.
• The company recently increased its quarterly dividend from $0.10 to $0.15, reflecting a positive shift and yielding approximately 3.3% annually.

Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 1,230,000 shares, a drop of 38.2% from the September 15th total of 1,990,000 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily trading volume, of 576,300 shares, the days-to-cover ratio is presently 2.1 days. Based on an average daily trading volume, of 576,300 shares, the days-to-cover ratio is presently 2.1 days. Approximately 2.3% of the shares of the company are short sold.

Analyst Ratings Changes

Several analysts recently weighed in on FIHL shares. Evercore ISI reiterated a "mixed" rating on shares of Fidelis Insurance in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods upped their price target on Fidelis Insurance from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Barclays upped their price target on Fidelis Insurance from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Wednesday, October 8th. Weiss Ratings restated a "hold (c-)" rating on shares of Fidelis Insurance in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Fidelis Insurance from a "strong sell" rating to a "hold" rating in a report on Thursday, September 11th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Fidelis Insurance has an average rating of "Hold" and a consensus target price of $20.71.

Institutional Investors Weigh In On Fidelis Insurance

Several hedge funds and other institutional investors have recently modified their holdings of FIHL. Ameritas Investment Partners Inc. grew its position in Fidelis Insurance by 15.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,088 shares of the company's stock worth $101,000 after purchasing an additional 810 shares during the last quarter. Advisory Services Network LLC grew its position in Fidelis Insurance by 2.7% during the second quarter. Advisory Services Network LLC now owns 33,472 shares of the company's stock worth $506,000 after buying an additional 882 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Fidelis Insurance by 1.7% during the second quarter. Envestnet Asset Management Inc. now owns 60,344 shares of the company's stock worth $1,001,000 after buying an additional 998 shares in the last quarter. Empowered Funds LLC grew its position in Fidelis Insurance by 0.3% during the second quarter. Empowered Funds LLC now owns 443,779 shares of the company's stock worth $7,358,000 after buying an additional 1,209 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Fidelis Insurance by 1.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 72,167 shares of the company's stock worth $1,310,000 after purchasing an additional 1,226 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Fidelis Insurance Stock Down 0.2%

Fidelis Insurance stock traded down $0.04 during mid-day trading on Wednesday, hitting $18.05. 356,190 shares of the company's stock were exchanged, compared to its average volume of 618,789. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.00 billion, a P/E ratio of -44.03 and a beta of 0.28. The stock has a 50 day moving average of $17.64 and a two-hundred day moving average of $16.78. Fidelis Insurance has a 1-year low of $14.17 and a 1-year high of $21.32.

Fidelis Insurance (NYSE:FIHL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.12 EPS 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 company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $604.62 million. As a group, analysts anticipate that Fidelis Insurance will post 3.12 EPS for the current fiscal year.

Fidelis Insurance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Tuesday, September 16th were paid a $0.15 dividend. The ex-dividend date was Tuesday, September 16th. This is a positive change from Fidelis Insurance's previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 3.3%. Fidelis Insurance's dividend payout ratio is -146.34%.

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.

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