Fidelis Insurance Holdings Limited (NYSE:PLGO) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analyst sentiment is neutral: Seven analysts give Fidelis Insurance an average “Hold” rating, with four buys, two holds and one sell. The average 12-month price target is $27.00.
• Fidelis reported quarterly EPS of $0.34 on $650 million in revenue, with a 15.26% return on equity and 15.94% net margin. Analysts expect full-year EPS of approximately $3.21.
• The company declared a quarterly dividend of $0.15 per share, equal to a 2.4% annualized yield, while institutional investors own nearly 82% of outstanding shares.

Shares of Fidelis Insurance Holdings Limited (NYSE:PLGO - Get Free Report) have received a consensus recommendation of "Hold" from the seven analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $27.00.

PLGO has been the topic of several analyst reports. Zacks Research lowered shares of Fidelis Insurance from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Barclays lowered their price objective on shares of Fidelis Insurance from $24.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 13th. Wall Street Zen cut shares of Fidelis Insurance from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Keefe, Bruyette & Woods cut their target price on shares of Fidelis Insurance from $29.00 to $28.00 and set an "outperform" rating for the company in a research note on Friday, August 14th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Fidelis Insurance in a report on Friday, August 7th.

Fidelis Insurance Stock Up 1.0%

PLGO stock opened at $24.98 on Thursday. The company has a market capitalization of $2.16 billion, a P/E ratio of 6.12 and a beta of 0.27. Fidelis Insurance has a twelve month low of $16.96 and a twelve month high of $26.34. The company has a 50 day moving average of $24.77. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.34 EPS for the quarter. Fidelis Insurance had a return on equity of 15.26% and a net margin of 15.94%.The company had revenue of $650.00 million during the quarter. On average, equities research analysts anticipate that Fidelis Insurance will post 3.21 EPS for the current fiscal year.

Fidelis Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Monday, September 14th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, September 14th. Fidelis Insurance's dividend payout ratio (DPR) is presently 14.71%.

Institutional Investors Weigh In On Fidelis Insurance

Large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC bought a new position in Fidelis Insurance during the second quarter worth $3,713,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Fidelis Insurance in the second quarter valued at about $1,633,000. Optimize Financial Inc. acquired a new stake in shares of Fidelis Insurance during the 2nd quarter worth about $621,000. Susquehanna International Group LLP bought a new stake in shares of Fidelis Insurance during the 2nd quarter worth about $388,000. Finally, California State Teachers Retirement System bought a new stake in shares of Fidelis Insurance during the 2nd quarter worth about $359,000. Institutional investors own 81.99% of the company's stock.

About Fidelis Insurance

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.

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