Fidelis Insurance Holdings Limited (NYSE:FIHL) Short Interest Down 29.9% in February

Fidelis Insurance Holdings Limited (NYSE:FIHL) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 890,700 shares, a drop of 29.9% from the February 13th total of 1,270,000 shares. Based on an average trading volume of 616,800 shares, the short-interest ratio is presently 1.4 days. Currently, 1.6% of the shares of the stock are sold short.

Fidelis Insurance Price Performance

Shares of FIHL stock traded up $0.58 during trading hours on Friday, hitting $15.11. 703,694 shares of the company’s stock were exchanged, compared to its average volume of 681,712. The stock’s 50-day moving average is $15.99 and its 200-day moving average is $17.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.68 and a quick ratio of 0.68. Fidelis Insurance has a 52 week low of $14.17 and a 52 week high of $21.32. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 3.82 and a beta of 0.61.

Fidelis Insurance (NYSE:FIHL) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of $0.93 by ($1.98). Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. The company had revenue of $685.90 million during the quarter, compared to analyst estimates of $661.52 million. As a group, research analysts forecast that Fidelis Insurance will post 3.12 EPS for the current year.

Fidelis Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.65%. The ex-dividend date is Wednesday, March 12th. Fidelis Insurance’s dividend payout ratio is 42.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Fidelis Insurance during the fourth quarter valued at $26,000. Venturi Wealth Management LLC lifted its position in Fidelis Insurance by 1,862.9% during the 4th quarter. Venturi Wealth Management LLC now owns 6,144 shares of the company’s stock valued at $111,000 after purchasing an additional 5,831 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Fidelis Insurance in the 3rd quarter valued at about $195,000. Fox Run Management L.L.C. bought a new position in shares of Fidelis Insurance in the 4th quarter valued at about $235,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Fidelis Insurance during the 4th quarter worth approximately $247,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays lowered their target price on shares of Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 20th. Keefe, Bruyette & Woods dropped their target price on Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. The Goldman Sachs Group restated a “sell” rating and set a $16.00 target price (down previously from $21.00) on shares of Fidelis Insurance in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, UBS Group boosted their target price on shares of Fidelis Insurance from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, March 7th. 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 data from MarketBeat.com, Fidelis Insurance currently has an average rating of “Hold” and a consensus price target 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.