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

Fidelis Insurance Holdings Limited (NYSE:PLGO) has been assigned an average rating of “Hold” from the seven ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $27.00.

A number of analysts have recently commented on PLGO shares. Citizens Jmp boosted their target price on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company a “market outperform” rating in a report on Thursday, August 13th. Keefe, Bruyette & Woods decreased their price target on shares of Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, August 14th. JPMorgan Chase & Co. lifted their price target 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. Zacks Research lowered shares of Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. Finally, Barclays dropped their price objective on shares of 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.

Fidelis Insurance Stock Performance

Shares of PLGO stock opened at $25.63 on Friday. The business has a fifty day moving average price of $24.54. Fidelis Insurance has a twelve month low of $17.74 and a twelve month high of $26.41.

Fidelis Insurance (NYSE:PLGO) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.34 earnings per share (EPS) for the quarter. The firm had revenue of $650.00 million during the quarter. As a group, equities analysts anticipate 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. Stockholders of record on Monday, September 14th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, September 14th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI grew its stake in shares of Fidelis Insurance by 1.3% in the third quarter. Citizens Financial Group Inc. RI now owns 40,784 shares of the company’s stock worth $965,000 after acquiring an additional 540 shares during the last quarter. Kendall Capital Management increased its holdings in shares of Fidelis Insurance by 5.5% during the third quarter. Kendall Capital Management now owns 96,530 shares of the company’s stock valued at $2,284,000 after acquiring an additional 5,065 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Fidelis Insurance by 7.1% during the third quarter. Sterling Capital Management LLC now owns 14,315 shares of the company’s stock valued at $339,000 after acquiring an additional 954 shares in the last quarter. Quadrant Capital Group LLC bought a new position in shares of Fidelis Insurance during the third quarter valued at $329,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Fidelis Insurance in the 3rd quarter worth about $77,000. Institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Company Profile

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.