Fidelis Insurance Holdings Limited (NYSE:PLGO) Announces Dividend Increase - $0.22 Per Share

Key Points

• Fidelis Insurance raised its quarterly dividend 46.7%, from $0.15 to $0.22 per share. The annualized payout is $0.88, representing a 3.4% yield.
• Shareholders of record on December 11 will receive the dividend on December 23; the ex-dividend date is December 11.
• Analysts have a consensus Hold rating and an average price target of $27.00; four analysts rate the stock Buy, one Hold, and two Sell.

Fidelis Insurance Holdings Limited (NYSE:PLGO - Get Free Report) declared a quarterly dividend on Tuesday, November 3rd. Stockholders of record on Friday, December 11th will be given a dividend of $0.22 per share on Wednesday, December 23rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, December 11th. This is a 46.7% increase from Fidelis Insurance's previous quarterly dividend of $0.15.

Fidelis Insurance Price Performance

NYSE PLGO opened at $26.08 on Wednesday. The firm has a market cap of $2.25 billion, a P/E ratio of 6.39 and a beta of 0.24. Fidelis Insurance has a 12 month low of $17.74 and a 12 month high of $26.58. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.65 and a current ratio of 0.65. The company's 50-day moving average is $24.78.

Fidelis Insurance (NYSE:PLGO - Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported $0.34 earnings per share (EPS) for the quarter. Fidelis Insurance had a net margin of 15.94% and a return on equity of 15.26%. The business had revenue of $650.00 million for the quarter. As a group, equities research analysts anticipate that Fidelis Insurance will post 3.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group lifted their price target on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Citizens Jmp upped their price objective on Fidelis Insurance from $28.00 to $29.00 and gave the stock a "market outperform" rating in a report on Thursday, August 13th. Barclays cut their target price on Fidelis Insurance from $24.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 13th. Zacks Research lowered Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research report on Friday, October 9th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Fidelis Insurance in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $27.00.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Limited is a specialty insurance company that provides customized insurance and reinsurance solutions for complex and large-scale risks. The company operates through a portfolio of underwriting businesses designed to serve clients and brokers whose coverage needs may not be fully addressed by the standard insurance market.

Its offerings include specialty property and casualty insurance, commercial insurance, marine and aviation coverage, energy-related insurance, cyber insurance, political risk protection and other tailored products.

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