Fidelis Insurance Holdings Limited (NYSE:FIHL) Short Interest Up 32.1% in December

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

Analysts Set New Price Targets

FIHL has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $16.00 target price (down previously from $21.00) on shares of Fidelis Insurance in a report on Wednesday, January 8th. Keefe, Bruyette & Woods cut 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. 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 report on Friday, January 3rd. Finally, Barclays cut their price objective on shares of Fidelis Insurance from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.86.

Institutional Trading of Fidelis Insurance

A number of large investors have recently made changes to their positions in FIHL. Wellington Management Group LLP raised 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 purchasing an additional 1,332,896 shares during the period. Ghisallo Capital Management LLC raised its holdings 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 valued at $6,524,000 after buying an additional 364,875 shares during the period. Empowered Funds LLC bought a new stake in Fidelis Insurance in the third quarter worth $6,424,000. Foundry Partners LLC purchased a new position in Fidelis Insurance during the third quarter worth $5,065,000. Finally, Marshall Wace LLP increased its position in Fidelis Insurance by 836.3% during the second quarter. Marshall Wace LLP now owns 154,663 shares of the company’s stock valued at $2,523,000 after acquiring an additional 138,144 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Fidelis Insurance Stock Performance

NYSE FIHL opened at $16.62 on Friday. 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 1-year low of $12.20 and a 1-year high of $21.32. The business has a 50 day simple moving average of $18.62 and a two-hundred day simple moving average of $18.01. The stock has a market capitalization of $1.96 billion, a PE ratio of 4.20 and a beta of 0.53.

Fidelis Insurance Dividend Announcement

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

Fidelis Insurance Company Profile

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.