Fidelis Insurance (NYSE:PLGO) Posts Earnings Results, Beats Estimates By $0.21 EPS

Fidelis Insurance (NYSE:PLGO) released its quarterly earnings results on Wednesday. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.21, Zacks reports. The firm had revenue of $800.90 million for the quarter. Fidelis Insurance had a net margin of 12.47% and a return on equity of 13.56%.

Fidelis Insurance Stock Up 2.0%

NYSE:PLGO traded up $0.57 during midday trading on Friday, hitting $29.40. The company had a trading volume of 266,107 shares, compared to its average volume of 434,960. The firm has a market cap of $2.54 billion, a P/E ratio of 8.21 and a beta of 0.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.65 and a quick ratio of 0.65. Fidelis Insurance has a 52-week low of $17.87 and a 52-week high of $29.70. The stock has a fifty day simple moving average of $25.27.

Fidelis Insurance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Friday, December 11th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.0%. This is a boost from Fidelis Insurance’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, December 11th. Fidelis Insurance’s dividend payout ratio (DPR) is presently 14.71%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PLGO shares. Zacks Research lowered Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. Keefe, Bruyette & Woods upped their target price on Fidelis Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fidelis Insurance in a report on Wednesday, November 4th. Citizens Jmp lifted their price target on Fidelis Insurance from $28.00 to $29.00 and gave the company a “market outperform” rating in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.80.

About Fidelis Insurance

Fidelis Insurance Holdings Limited is a specialty insurer and reinsurer focused on providing coverage for complex and less commonly insured risks. Its products span areas such as property, marine, aviation, energy, and other specialty lines, serving businesses and clients in markets around the world. Founded in 2015, the company is headquartered in Bermuda and operates internationally. Fidelis Insurance Holdings is listed on the New York Stock Exchange under the symbol FIHL; PLGO does not appear to be its ticker symbol.