Fidelis Insurance Holdings Limited (PLGO) – What Are Brokerages Thinking About This Stock?

Shares of Fidelis Insurance Holdings Limited (NYSE:PLGO) have earned a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $27.00.

A number of research analysts have commented on PLGO shares. UBS Group increased their price objective on Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. boosted their target price on Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, July 20th. Barclays cut their price target on Fidelis Insurance from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fidelis Insurance in a report on Friday, August 7th. Finally, Zacks Research lowered Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research report on Friday, October 9th.

Fidelis Insurance Trading Up 2.0%

Shares of PLGO stock opened at $26.14 on Friday. Fidelis Insurance has a 1 year low of $17.74 and a 1 year high of $26.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.65 and a quick ratio of 0.65. The business’s 50 day moving average is $24.63. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 6.41 and a beta of 0.28.

Fidelis Insurance (NYSE:PLGO) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.34 earnings per share for the quarter. Fidelis Insurance had a net margin of 15.94% and a return on equity of 15.26%. The business had revenue of $650.00 million during the quarter. On average, equities research analysts forecast that Fidelis Insurance will post 3.18 earnings per share for the current fiscal year.

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Monday, September 14th were given a dividend of $0.15 per share. The ex-dividend date was Monday, September 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.3%. Fidelis Insurance’s dividend payout ratio is presently 14.71%.

Institutional Investors Weigh In On Fidelis Insurance

Several institutional investors have recently modified their holdings of the business. State Street Corp acquired a new position in Fidelis Insurance in the second quarter valued at approximately $20,081,000. Citadel Advisors LLC bought a new position in Fidelis Insurance in the second quarter valued at approximately $3,713,000. Kendall Capital Management grew its holdings in Fidelis Insurance by 5.5% during the 3rd quarter. Kendall Capital Management now owns 96,530 shares of the company’s stock worth $2,284,000 after acquiring an additional 5,065 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Fidelis Insurance during the 2nd quarter worth $1,633,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Fidelis Insurance during the 2nd quarter valued at $1,468,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

About Fidelis Insurance

Fidelis Insurance Holdings Limited is a specialty insurance company that provides customized insurance and reinsurance solutions for complex and large-scale risks. The company operates through a portfolio of underwriting businesses designed to serve clients and brokers whose coverage needs may not be fully addressed by the standard insurance market.

Its offerings include specialty property and casualty insurance, commercial insurance, marine and aviation coverage, energy-related insurance, cyber insurance, political risk protection and other tailored products.