Fidelis Insurance (NYSE:PLGO) Issues Earnings Results, Beats Expectations By $0.21 EPS

Fidelis Insurance (NYSE:PLGO) released its earnings results on Wednesday. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.21, Zacks reports. Fidelis Insurance had a return on equity of 15.26% and a net margin of 15.94%.

Fidelis Insurance Trading Down 1.2%

Shares of NYSE:PLGO traded down $0.34 during trading on Wednesday, reaching $27.99. 468,574 shares of the company traded hands, compared to its average volume of 433,704. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 6.86 and a beta of 0.24. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.32. The firm’s fifty day simple moving average is $25.13. Fidelis Insurance has a 52-week low of $17.87 and a 52-week high of $28.85.

Fidelis Insurance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Friday, December 11th will be paid a $0.22 dividend. This is a boost from Fidelis Insurance’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.1%. Fidelis Insurance’s dividend payout ratio is presently 21.57%.

Wall Street Analyst Weigh In

PLGO has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped their price target on Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, August 14th. Zacks Research lowered Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Fidelis Insurance in a research report on Wednesday, November 4th. JPMorgan Chase & Co. upped their price target on Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, July 20th. Finally, Barclays decreased their price objective on shares of Fidelis Insurance from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, August 13th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.00.

About Fidelis Insurance

Fidelis Insurance Holdings Limited is a specialty insurer and reinsurer focused on providing coverage for complex and less commonly insured risks. Its products span areas such as property, marine, aviation, energy, and other specialty lines, serving businesses and clients in markets around the world. Founded in 2015, the company is headquartered in Bermuda and operates internationally. Fidelis Insurance Holdings is listed on the New York Stock Exchange under the symbol FIHL; PLGO does not appear to be its ticker symbol.