Brokerages Set Fidelis Insurance Holdings Limited (NYSE:PLGO) Price Target at $27.00

Shares of Fidelis Insurance Holdings Limited (NYSE:PLGO) have earned an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $27.00.

PLGO has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fidelis Insurance in a research report on Friday, August 7th. Zacks Research cut shares of Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Barclays decreased their price objective on shares of Fidelis Insurance from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, August 13th. Citizens Jmp raised their price objective on Fidelis Insurance from $28.00 to $29.00 and gave the stock a “market outperform” rating in a report on Thursday, August 13th. Finally, UBS Group lifted their target price on Fidelis Insurance from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th.

Fidelis Insurance Stock Up 0.2%

PLGO stock opened at $24.87 on Thursday. The stock’s 50 day simple moving average is $24.84. The stock has a market capitalization of $2.15 billion, a PE ratio of 6.10 and a beta of 0.27. Fidelis Insurance has a fifty-two week low of $16.96 and a fifty-two week high of $26.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.65 and a current ratio of 0.65.

Fidelis Insurance (NYSE:PLGO) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.34 EPS for the quarter. Fidelis Insurance had a net margin of 15.94% and a return on equity of 15.26%. The company had revenue of $650.00 million for the quarter. As a group, sell-side analysts anticipate that Fidelis Insurance will post 3.21 EPS for the current year.

Fidelis Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Monday, September 14th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, September 14th. Fidelis Insurance’s dividend payout ratio (DPR) is currently 14.71%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in shares of Fidelis Insurance in the second quarter valued at approximately $47,000. Integrated Wealth Concepts LLC acquired a new position in shares of Fidelis Insurance in the 2nd quarter valued at $91,000. The Manufacturers Life Insurance Company acquired a new position in shares of Fidelis Insurance in the 2nd quarter valued at $258,000. California State Teachers Retirement System purchased a new stake in Fidelis Insurance in the 2nd quarter valued at $359,000. Finally, Susquehanna International Group LLP acquired a new stake in Fidelis Insurance during the 2nd quarter worth $388,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

About Fidelis Insurance

Fidelis is a leading global provider of bespoke and specialty insurance and reinsurance products. We believe our differentiated underwriting positions us well to generate strong returns across (re)insurance cycles. Current Fidelis is led by Mr. Daniel Burrows who has more than 35 years of experience in the insurance industry and is supported by a highly experienced management team that manages the operations of Current Fidelis based on our founding principles. Following the Separation Transactions, Current Fidelis is positioned as a global, specialty insurance provider with exclusive right of first access to Fidelis MGU’s underwriting business during the term of the Framework Agreement.