Fidelis Insurance (NYSE:PLGO) Announces Quarterly Earnings Results

Fidelis Insurance (NYSE:PLGO) released its earnings results on Wednesday. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.54), Zacks reports. The business had revenue of $650.00 million for the quarter. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%.

Fidelis Insurance Price Performance

PLGO traded down $0.18 on Wednesday, hitting $24.31. The company had a trading volume of 320,886 shares, compared to its average volume of 417,873. The stock’s fifty day simple moving average is $24.39. Fidelis Insurance has a 1-year low of $15.94 and a 1-year high of $26.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $2.10 billion, a PE ratio of 6.50 and a beta of 0.28.

Fidelis Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Monday, September 14th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, September 14th. Fidelis Insurance’s dividend payout ratio (DPR) is presently 16.04%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PLGO. Keefe, Bruyette & Woods lifted their target price on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. lifted their price objective on Fidelis Insurance from $23.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, July 20th. UBS Group upped their target price on Fidelis Insurance from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Wall Street Zen upgraded Fidelis Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Barclays increased their price objective on Fidelis Insurance from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fidelis Insurance has a consensus rating of “Hold” and an average target price of $27.20.

Fidelis Insurance Company Profile

Fidelis is a leading global provider of bespoke and specialty insurance and reinsurance products. We believe our differentiated underwriting positions us well to generate strong returns across (re)insurance cycles. Current Fidelis is led by Mr. Daniel Burrows who has more than 35 years of experience in the insurance industry and is supported by a highly experienced management team that manages the operations of Current Fidelis based on our founding principles. Following the Separation Transactions, Current Fidelis is positioned as a global, specialty insurance provider with exclusive right of first access to Fidelis MGU’s underwriting business during the term of the Framework Agreement.