Fidelis Insurance Holdings Limited (NYSE:PLGO) Stock Rated “Hold” by Sell-Side Analysts

Shares of Fidelis Insurance Holdings Limited (NYSE:PLGO) have received a consensus recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $27.00.

Several research analysts have recently weighed in on PLGO shares. Zacks Research lowered shares of Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. Barclays reduced their price target on Fidelis Insurance from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Thursday, August 13th. Wall Street Zen downgraded Fidelis Insurance from a “buy” rating to a “hold” rating in a research report on Sunday, October 18th. JPMorgan Chase & Co. upped their price objective on Fidelis Insurance from $23.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Finally, Keefe, Bruyette & Woods cut their price objective on Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, August 14th.

Institutional Investors Weigh In On Fidelis Insurance

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

Fidelis Insurance Stock Up 2.4%

NYSE:PLGO opened at $26.24 on Friday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 6.43 and a beta of 0.28. Fidelis Insurance has a twelve month low of $17.74 and a twelve month high of $26.34. The business’s 50 day moving average is $24.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.65 and a quick ratio of 0.65.

Fidelis Insurance (NYSE:PLGO) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.34 earnings per share (EPS) for the quarter. The company 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%. As a group, analysts anticipate that Fidelis Insurance will post 3.18 earnings per share for the current year.

Fidelis Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Monday, September 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, September 14th. Fidelis Insurance’s payout ratio is currently 14.71%.

About Fidelis Insurance

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.