Fidelis Insurance Holdings Limited (NYSE:FIHL) Short Interest Up 29.1% in August

Fidelis Insurance Holdings Limited (NYSE:FIHL) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 1,150,000 shares, a growth of 29.1% from the August 15th total of 890,500 shares. Based on an average trading volume of 568,600 shares, the short-interest ratio is presently 2.0 days. Approximately 2.5% of the company’s stock are sold short.

Fidelis Insurance Stock Up 1.1 %

Shares of NYSE FIHL traded up $0.19 during midday trading on Monday, hitting $17.79. The stock had a trading volume of 248,627 shares, compared to its average volume of 605,618. The company has a market cap of $2.10 billion, a P/E ratio of 4.32 and a beta of -0.10. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $17.70 and its 200-day moving average is $17.73. Fidelis Insurance has a 52 week low of $11.55 and a 52 week high of $20.53.

Fidelis Insurance (NYSE:FIHL) last issued its earnings results on Wednesday, August 14th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.15). The business had revenue of $547.10 million for the quarter, compared to analysts’ expectations of $582.19 million. Fidelis Insurance had a net margin of 20.96% and a return on equity of 15.67%. As a group, analysts predict that Fidelis Insurance will post 2.94 EPS for the current year.

Fidelis Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.10 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.40 annualized dividend and a yield of 2.25%. Fidelis Insurance’s payout ratio is 9.71%.

Hedge Funds Weigh In On Fidelis Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of FIHL. Jump Financial LLC lifted its holdings in shares of Fidelis Insurance by 94.6% during the 4th quarter. Jump Financial LLC now owns 50,014 shares of the company’s stock valued at $634,000 after buying an additional 24,319 shares during the period. Boston Partners boosted its position in Fidelis Insurance by 3.3% in the fourth quarter. Boston Partners now owns 227,795 shares of the company’s stock worth $2,886,000 after purchasing an additional 7,370 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Fidelis Insurance during the 4th quarter valued at about $242,000. Pine Brook Road Advisors L.P. purchased a new stake in shares of Fidelis Insurance during the 4th quarter valued at about $107,116,000. Finally, Prospector Partners LLC lifted its stake in shares of Fidelis Insurance by 0.4% in the 4th quarter. Prospector Partners LLC now owns 564,593 shares of the company’s stock worth $7,153,000 after purchasing an additional 2,395 shares during the period. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FIHL shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $24.00 price objective on shares of Fidelis Insurance in a report on Friday, August 16th. JPMorgan Chase & Co. increased their price target on shares of Fidelis Insurance from $18.50 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. JMP Securities reissued a “market outperform” rating and set a $24.00 price objective on shares of Fidelis Insurance in a research note on Friday, August 16th. Barclays initiated coverage on shares of Fidelis Insurance in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $21.00 target price for the company. Finally, Evercore ISI started coverage on Fidelis Insurance in a research report on Wednesday, July 17th. They issued an “inline” rating and a $19.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.13.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Limited, together with its subsidiaries, provides insurance and reinsurance products 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.