60,308 Shares in Fidelis Insurance Holdings Limited $PLGO Bought by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP acquired 60,308 Fidelis Insurance shares worth approximately $1.47 million, while institutional investors collectively own 81.99% of PLGO.
• Analyst sentiment is mixed: four analysts rate the stock a Buy, two recommend Hold, and one rates it Sell. The consensus rating is Hold, with a target price of $27 versus a recent price of $24.07.
• Fidelis reported quarterly earnings of $0.34 per share on $650 million in revenue and declared a quarterly dividend of $0.15, equating to a 2.5% annualized yield.

Engineers Gate Manager LP bought a new stake in Fidelis Insurance Holdings Limited (NYSE:PLGO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 60,308 shares of the company's stock, valued at approximately $1,468,000. Engineers Gate Manager LP owned 0.07% of Fidelis Insurance at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PLGO. Citadel Advisors LLC acquired a new stake in Fidelis Insurance during the 2nd quarter worth approximately $3,713,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Fidelis Insurance in the second quarter valued at approximately $1,633,000. Optimize Financial Inc. acquired a new position in shares of Fidelis Insurance in the second quarter valued at approximately $621,000. Squarepoint Ops LLC bought a new stake in shares of Fidelis Insurance during the second quarter worth $404,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Fidelis Insurance during the second quarter worth $388,000. Institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLGO. Zacks Research cut 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 target 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. Weiss Ratings reissued a "buy (b)" rating on shares of Fidelis Insurance in a research report on Friday, August 7th. Keefe, Bruyette & Woods reduced their price objective 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, Citizens Jmp raised their price objective on Fidelis Insurance from $28.00 to $29.00 and gave the company a "market outperform" rating in a report on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $27.00.

Fidelis Insurance Trading Down 0.5%

Shares of NYSE PLGO opened at $24.07 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $2.08 billion, a P/E ratio of 5.90 and a beta of 0.27. Fidelis Insurance Holdings Limited has a 12 month low of $16.96 and a 12 month high of $26.34. The business's 50 day simple moving average is $24.81.

Fidelis Insurance (NYSE:PLGO - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.34 earnings per share for the quarter. Fidelis Insurance had a return on equity of 15.26% and a net margin of 15.94%.The business had revenue of $650.00 million for the quarter. Analysts predict that Fidelis Insurance Holdings Limited will post 3.21 EPS for the current fiscal year.

Fidelis Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Monday, September 14th will be paid a $0.15 dividend. The ex-dividend date is Monday, September 14th. This represents a $0.60 annualized dividend and a yield of 2.5%. Fidelis Insurance's payout ratio is 14.71%.

Fidelis Insurance Company Profile

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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