Fidelis Insurance Holdings Limited (NYSE:PLGO) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analyst consensus is “Hold”: Among seven analysts, four rate Fidelis Insurance a buy, two recommend holding, and one rates it a sell. The average 12-month price target is $27.20, above the reported $25.09 share price.
• Fidelis exceeded quarterly expectations: The company reported earnings of $0.94 per share versus the $0.75 consensus estimate and revenue of $612.2 million, topping expectations of $577.19 million.
• The company declared a quarterly dividend of $0.15 per share, equivalent to $0.60 annually and a 2.4% yield, with a payout ratio of 16.04%.

Shares of Fidelis Insurance Holdings Limited (NYSE:PLGO - Get Free Report) have earned an average rating of "Hold" from the seven research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $27.20.

A number of research firms recently commented on PLGO. Zacks Research cut Fidelis Insurance from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Barclays boosted their price target on Fidelis Insurance from $22.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. increased their price objective on shares of Fidelis Insurance from $23.00 to $26.00 and gave the stock an "underweight" rating in a research note on Monday, July 20th. Weiss Ratings began coverage on shares of Fidelis Insurance in a report on Wednesday, May 13th. They issued a "buy (b)" rating on the stock. Finally, UBS Group boosted their target price on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th.

Fidelis Insurance Trading Down 1.8%

Shares of PLGO stock opened at $25.09 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. Fidelis Insurance has a 12-month low of $15.94 and a 12-month high of $26.34. The stock has a market capitalization of $2.17 billion, a PE ratio of 6.71 and a beta of 0.28. The stock has a 50 day moving average of $24.28.

Fidelis Insurance (NYSE:PLGO - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.19. The firm had revenue of $612.20 million for the quarter, compared to analysts' expectations of $577.19 million. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%. As a group, equities analysts predict that Fidelis Insurance will post 3.8 earnings per share for the current 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 dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.4%. Fidelis Insurance's payout ratio is presently 16.04%.

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.

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