Fidelis Insurance Holdings Limited (NYSE:FIHL) Sees Significant Increase in Short Interest

Fidelis Insurance Holdings Limited (NYSE:FIHL) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,590,000 shares, an increase of 32.1% from the December 15th total of 1,960,000 shares. Currently, 5.9% of the company’s shares are sold short. Based on an average daily trading volume, of 490,500 shares, the days-to-cover ratio is currently 5.3 days.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FIHL shares. Keefe, Bruyette & Woods decreased their target price on Fidelis Insurance from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. The Goldman Sachs Group reissued a “sell” rating and issued a $16.00 price objective (down from $21.00) on shares of Fidelis Insurance in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced 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 report on Friday, January 3rd. Finally, Barclays decreased their price target on shares of Fidelis Insurance from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. One investment 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 MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.86.

Institutional Investors Weigh In On Fidelis Insurance

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in Fidelis Insurance by 76.4% during the third quarter. Wellington Management Group LLP now owns 3,078,157 shares of the company’s stock valued at $55,592,000 after acquiring an additional 1,332,896 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Fidelis Insurance by 12.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 655,565 shares of the company’s stock valued at $11,839,000 after purchasing an additional 74,445 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Fidelis Insurance by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 627,616 shares of the company’s stock valued at $11,335,000 after purchasing an additional 44,416 shares during the last quarter. Prospector Partners LLC boosted its position in shares of Fidelis Insurance by 0.6% in the 2nd quarter. Prospector Partners LLC now owns 577,628 shares of the company’s stock worth $9,421,000 after purchasing an additional 3,710 shares in the last quarter. Finally, Ghisallo Capital Management LLC grew its stake in Fidelis Insurance by 1,038.8% during the 2nd quarter. Ghisallo Capital Management LLC now owns 400,000 shares of the company’s stock worth $6,524,000 after buying an additional 364,875 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Fidelis Insurance Price Performance

NYSE FIHL opened at $16.62 on Friday. The company has a market cap of $1.96 billion, a PE ratio of 4.20 and a beta of 0.53. Fidelis Insurance has a 52-week low of $12.20 and a 52-week high of $21.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.68 and a current ratio of 0.68. The firm’s 50 day moving average price is $18.62 and its 200-day moving average price is $18.01.

Fidelis Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, November 29th. Fidelis Insurance’s payout ratio is 10.10%.

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.