Fidelis Insurance (NYSE:PLGO) Releases Earnings Results

Fidelis Insurance (NYSE:PLGO) issued its quarterly earnings data on Wednesday. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.54), Zacks reports. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%.The company had revenue of $650.00 million for the quarter.

Fidelis Insurance Stock Performance

Shares of NYSE:PLGO traded down $0.18 during trading on Wednesday, hitting $24.31. The company’s stock had a trading volume of 320,886 shares, compared to its average volume of 417,873. The stock has a market capitalization of $2.10 billion, a P/E ratio of 6.50 and a beta of 0.28. Fidelis Insurance has a fifty-two week low of $15.94 and a fifty-two week high of $26.34. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $24.39.

Fidelis Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Monday, September 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, September 14th. Fidelis Insurance’s payout ratio is presently 16.04%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PLGO. UBS Group increased their target price on Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Weiss Ratings restated a “buy (b)” rating on shares of Fidelis Insurance in a report on Friday. Zacks Research downgraded shares of Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Citizens Jmp lifted their price objective on shares of Fidelis Insurance from $27.00 to $28.00 and gave the company a “market outperform” rating in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.20.

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.