Fidelis Insurance Holdings Limited (NYSE:PLGO) Given Average Rating of “Hold” by Brokerages

Fidelis Insurance Holdings Limited (NYSE:PLGO) has been given an average recommendation of “Hold” by the seven brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $27.00.

PLGO has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Fidelis Insurance from $23.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, July 20th. Wall Street Zen lowered shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. UBS Group lifted their price objective on shares of Fidelis Insurance from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Zacks Research lowered shares of Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, August 14th.

Hedge Funds Weigh In On Fidelis Insurance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System bought a new stake in shares of Fidelis Insurance during the 2nd quarter valued at $359,000. Susquehanna International Group LLP bought a new position in shares of Fidelis Insurance in the second quarter worth $388,000. Optimize Financial Inc. acquired a new position in Fidelis Insurance in the second quarter valued at about $621,000. Susquehanna Fundamental Investments LLC bought a new stake in Fidelis Insurance during the second quarter worth about $1,633,000. Finally, Citadel Advisors LLC bought a new stake in Fidelis Insurance during the second quarter worth about $3,713,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Fidelis Insurance Trading Up 1.0%

Shares of NYSE PLGO opened at $24.98 on Thursday. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 6.12 and a beta of 0.27. The business’s 50 day moving average price is $24.77. 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 has a 1-year low of $16.96 and a 1-year high of $26.34.

Fidelis Insurance (NYSE:PLGO) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.34 EPS for the quarter. The firm had revenue of $650.00 million for the quarter. Fidelis Insurance had a return on equity of 15.26% and a net margin of 15.94%. Analysts forecast that Fidelis Insurance will post 3.21 EPS for the current year.

Fidelis Insurance Announces Dividend

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

Fidelis Insurance Company Profile

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.