Fidelis Insurance Holdings Limited (NYSE:PLGO) Stock Has Consensus Target Price of $27.00 According to Brokerages

Fidelis Insurance Holdings Limited (NYSE:PLGO) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $27.00.

Several research analysts have commented on PLGO shares. Keefe, Bruyette & Woods cut their target price on Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, August 14th. UBS Group increased their price target on Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen lowered Fidelis Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. upped their target price on Fidelis Insurance from $23.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, July 20th. Finally, Barclays decreased their target price on shares of Fidelis Insurance from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Thursday, August 13th.

Hedge Funds Weigh In On Fidelis Insurance

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

Fidelis Insurance Stock Performance

Shares of NYSE PLGO opened at $24.27 on Monday. The company has a 50 day simple moving average of $24.50. The firm has a market cap of $2.10 billion, a PE ratio of 5.95 and a beta of 0.28. Fidelis Insurance has a 52-week low of $17.58 and a 52-week high of $26.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.65 and a current ratio of 0.65.

Fidelis Insurance (NYSE:PLGO) last issued its quarterly 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%. Analysts predict that Fidelis Insurance will post 3.21 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Monday, September 14th were 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 was Monday, September 14th. Fidelis Insurance’s dividend payout ratio is currently 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.