Fidelis Insurance Holdings Limited (NYSE:FIHL) Sees Large Decrease in Short Interest

Fidelis Insurance Holdings Limited (NYSE:FIHL) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 552,400 shares, a decrease of 38.0% from the February 28th total of 890,700 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average trading volume of 638,300 shares, the short-interest ratio is currently 0.9 days.

Analyst Ratings Changes

A number of research firms have recently issued reports on FIHL. Keefe, Bruyette & Woods lowered their price objective on Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Barclays reduced their price objective on shares of Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. lowered their target price on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. UBS Group increased their target price on Fidelis Insurance from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $16.00 price target (down from $21.00) on shares of Fidelis Insurance in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Fidelis Insurance currently has a consensus rating of “Hold” and an average target price of $20.57.

Fidelis Insurance Trading Up 0.2 %

NYSE FIHL traded up $0.04 during trading hours on Monday, hitting $16.24. The company’s stock had a trading volume of 618,468 shares, compared to its average volume of 576,499. Fidelis Insurance has a twelve month low of $14.17 and a twelve month high of $21.32. The firm has a market capitalization of $1.81 billion, a P/E ratio of 4.10 and a beta of 0.61. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average of $15.83 and a 200 day moving average of $17.41.

Fidelis Insurance (NYSE:FIHL) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates 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. Equities research analysts forecast that Fidelis Insurance will post 3.12 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 12th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Wednesday, March 12th. Fidelis Insurance’s payout ratio is 42.55%.

Institutional Investors Weigh In On Fidelis Insurance

Large investors have recently bought and sold shares of the company. Intech Investment Management LLC acquired a new position in shares of Fidelis Insurance in the 3rd quarter valued at $269,000. Charles Schwab Investment Management Inc. grew its stake in Fidelis Insurance by 7.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 124,828 shares of the company’s stock valued at $2,254,000 after acquiring an additional 8,992 shares during the period. The Manufacturers Life Insurance Company grew its stake in Fidelis Insurance by 4.4% in the third quarter. The Manufacturers Life Insurance Company now owns 18,097 shares of the company’s stock valued at $327,000 after acquiring an additional 770 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Fidelis Insurance in the third quarter worth about $2,068,000. Finally, Martingale Asset Management L P raised its position in shares of Fidelis Insurance by 6.7% during the third quarter. Martingale Asset Management L P now owns 127,593 shares of the company’s stock worth $2,304,000 after purchasing an additional 7,997 shares during the period. Institutional investors 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.