Fidelis Insurance Holdings Limited (NYSE:PLGO) Stock Now Rated “Hold” by Wall Street Analysts

Fidelis Insurance Holdings Limited (NYSE:PLGO) has been given a consensus rating of “Hold” by the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target 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 analyst reports. Wall Street Zen cut Fidelis Insurance from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Barclays reduced their target price on shares of Fidelis Insurance from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 13th. UBS Group increased their price target on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. raised their price target on shares of Fidelis Insurance from $23.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, July 20th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, August 14th.

Hedge Funds Weigh In On Fidelis Insurance

Several hedge funds have recently added to or reduced their stakes in PLGO. State Street Corp acquired a new position in shares of Fidelis Insurance in the 2nd quarter valued at $20,081,000. Citadel Advisors LLC acquired a new stake in shares of Fidelis Insurance during the second quarter worth $3,713,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Fidelis Insurance during the second quarter worth $1,633,000. Engineers Gate Manager LP bought a new stake in Fidelis Insurance in the second quarter valued at about $1,468,000. Finally, Optimize Financial Inc. bought a new stake in Fidelis Insurance in the second quarter valued at about $621,000. Institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Price Performance

Fidelis Insurance stock opened at $24.27 on Monday. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 5.95 and a beta of 0.28. The business’s fifty day moving average is $24.50. Fidelis Insurance has a 52-week low of $17.58 and a 52-week high of $26.34. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.32.

Fidelis Insurance (NYSE:PLGO) last issued its earnings results on Tuesday, June 30th. The company reported $0.34 EPS for the quarter. The company had revenue of $650.00 million for the quarter. Fidelis Insurance had a net margin of 15.94% and a return on equity of 15.26%. On average, equities research analysts predict that Fidelis Insurance will post 3.21 EPS for the current fiscal year.

Fidelis Insurance Dividend Announcement

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

About Fidelis Insurance

Fidelis Insurance Holdings Limited is a specialty insurance and reinsurance company headquartered in Bermuda. The company provides customized coverage for complex and hard-to-place risks, serving commercial clients, brokers and other insurance partners through a combination of underwriting and reinsurance operations.

Its product offerings include property, casualty, marine, energy, aviation, cyber, political violence and financial lines insurance, along with other specialty commercial coverages.