Fidelis Insurance Holdings Limited (NYSE:PLGO) Stock Has Average Target Price of $27.00

Key Points

• Analysts have a consensus “Hold” rating on Fidelis Insurance, with four buys, two holds and one sell; the average 12-month price target is $27.00 versus the stock’s recent price of $24.05.
• Institutional investors own approximately 81.99% of the company, with State Street purchasing a new $20.1 million position during the second quarter.
• Fidelis reported quarterly EPS of $0.34 on $650 million in revenue and pays a quarterly dividend of $0.15, equivalent to a 2.5% annualized yield.

Shares of Fidelis Insurance Holdings Limited (NYSE:PLGO - Get Free Report) have been given a consensus recommendation of "Hold" by the seven ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $27.00.

A number of research firms have weighed in on PLGO. Barclays lowered their target price 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 lowered Fidelis Insurance from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Keefe, Bruyette & Woods decreased their price objective 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Fidelis Insurance in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Fidelis Insurance from $23.00 to $26.00 and gave the stock an "underweight" rating in a report on Monday, July 20th.

Institutional Investors Weigh In On Fidelis Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp purchased a new position in Fidelis Insurance in the second quarter worth $20,081,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Fidelis Insurance during the 2nd quarter valued at $258,000. Engineers Gate Manager LP purchased a new stake in shares of Fidelis Insurance during the 2nd quarter valued at $1,468,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Fidelis Insurance in the 2nd quarter worth $91,000. Finally, Squarepoint Ops LLC purchased a new position in Fidelis Insurance during the 2nd quarter worth $404,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Fidelis Insurance Stock Performance

NYSE PLGO opened at $24.05 on Monday. Fidelis Insurance has a one year low of $16.96 and a one year high of $26.34. 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 stock has a market cap of $2.08 billion, a P/E ratio of 5.89 and a beta of 0.27. The firm's 50-day simple moving average is $24.64.

Fidelis Insurance (NYSE:PLGO - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.34 earnings per share (EPS) for the quarter. The firm 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%. Equities analysts expect that Fidelis Insurance will post 3.21 earnings per share for the current fiscal year.

Fidelis Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Monday, September 14th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. Fidelis Insurance's payout ratio is presently 14.71%.

About Fidelis Insurance

Fidelis Insurance Holdings Limited is a specialty insurance company headquartered in Bermuda, with operations focused on underwriting complex commercial risks. The company provides insurance and reinsurance solutions for clients and business partners that require tailored coverage beyond the scope of standard insurance products.

Fidelis operates through a diversified portfolio of specialty lines, including property, casualty, marine, energy, aviation, cyber, and other commercial risks.

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