Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 552,400 shares, a decline of 38.0% from the February 28th total of 890,700 shares. Approximately 1.1% of the company's shares are short sold. Based on an average daily volume of 638,300 shares, the days-to-cover ratio is currently 0.9 days.
Analyst Upgrades and Downgrades
FIHL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reduced their target price on Fidelis Insurance from $25.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Barclays cut their price objective on Fidelis Insurance from $20.00 to $18.00 and set an "equal weight" rating on the stock in a report on Thursday, February 20th. UBS Group increased their target price on Fidelis Insurance from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $16.00 price target (down previously from $21.00) on shares of Fidelis Insurance in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Fidelis Insurance from $21.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $20.57.
Check Out Our Latest Analysis on FIHL
Fidelis Insurance Stock Up 1.6 %
Shares of Fidelis Insurance stock traded up $0.26 during trading hours on Wednesday, reaching $16.73. 579,712 shares of the company's stock were exchanged, compared to its average volume of 576,833. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $15.83 and a two-hundred day moving average of $17.38. The stock has a market cap of $1.87 billion, a P/E ratio of 4.22 and a beta of 0.61. Fidelis Insurance has a fifty-two week low of $14.17 and a fifty-two week high of $21.32.
Fidelis Insurance (NYSE:FIHL - Get Free Report) 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 the consensus estimate of $661.52 million. On average, sell-side analysts forecast that Fidelis Insurance will post 3.12 EPS for the current fiscal year.
Fidelis Insurance Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Wednesday, March 12th. Fidelis Insurance's dividend payout ratio (DPR) is currently 42.55%.
Institutional Trading of Fidelis Insurance
A number of large investors have recently added to or reduced their stakes in FIHL. Zimmer Partners LP bought a new stake in shares of Fidelis Insurance in the 4th quarter valued at about $31,991,000. Citadel Advisors LLC raised its stake in Fidelis Insurance by 2,922.7% in the fourth quarter. Citadel Advisors LLC now owns 1,569,863 shares of the company's stock valued at $28,462,000 after buying an additional 1,517,927 shares during the period. LSV Asset Management acquired a new stake in shares of Fidelis Insurance in the fourth quarter valued at approximately $24,435,000. Wellington Management Group LLP boosted its stake in shares of Fidelis Insurance by 76.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,078,157 shares of the company's stock worth $55,592,000 after acquiring an additional 1,332,896 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Fidelis Insurance by 181.2% during the 4th quarter. Millennium Management LLC now owns 825,772 shares of the company's stock worth $14,971,000 after acquiring an additional 532,110 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.
About Fidelis Insurance
(
Get Free Report)
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.
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