Fidelis Insurance Holdings Limited (NYSE:PLGO) Stock Has Average Price Target of $27.00 According to Analysts

Fidelis Insurance Holdings Limited (NYSE:PLGO) has received a consensus rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $27.00.

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their target price on Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, August 14th. Citizens Jmp increased their price target on Fidelis Insurance from $28.00 to $29.00 and gave the company a “market outperform” rating in a research note on Thursday, August 13th. UBS Group raised their price target on Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wall Street Zen downgraded Fidelis Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fidelis Insurance in a report on Friday, August 7th.

Hedge Funds Weigh In On Fidelis Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in PLGO. Allworth Financial LP bought a new position in shares of Fidelis Insurance during the 2nd quarter valued at approximately $47,000. Integrated Wealth Concepts LLC bought a new stake in Fidelis Insurance in the second quarter worth $91,000. The Manufacturers Life Insurance Company purchased a new position in Fidelis Insurance during the second quarter worth $258,000. Susquehanna International Group LLP purchased a new position in Fidelis Insurance during the second quarter worth $388,000. Finally, Squarepoint Ops LLC bought a new position in Fidelis Insurance during the second quarter valued at $404,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Fidelis Insurance Stock Performance

PLGO stock opened at $23.71 on Monday. 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 stock has a fifty day moving average of $24.54. Fidelis Insurance has a one year low of $16.96 and a one year high of $26.34. The stock has a market capitalization of $2.05 billion, a P/E ratio of 5.81 and a beta of 0.27.

Fidelis Insurance (NYSE:PLGO) last posted its 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 company had revenue of $650.00 million during the quarter. On average, research analysts predict that Fidelis Insurance will post 3.21 EPS for the current fiscal year.

Fidelis Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Monday, September 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.5%. Fidelis Insurance’s dividend payout ratio is presently 14.71%.

About Fidelis Insurance

Fidelis Insurance Holdings Limited is a specialty insurance company headquartered in Bermuda, with operations focused on underwriting complex commercial risks. The company provides insurance and reinsurance solutions for clients and business partners that require tailored coverage beyond the scope of standard insurance products.

Fidelis operates through a diversified portfolio of specialty lines, including property, casualty, marine, energy, aviation, cyber, and other commercial risks.