Citadel Advisors LLC Makes New Investment in Fidelis Insurance Holdings Limited $PLGO

Key Points

• Citadel Advisors initiated a position in Fidelis Insurance, buying 152,491 shares valued at approximately $3.7 million, or about 0.18% of the company. Institutional investors collectively own nearly 82% of PLGO.
• Fidelis reported quarterly earnings of $0.34 per share on $650 million in revenue, with a 15.94% net margin and 15.26% return on equity. Shares recently opened at $25.35, near their 12-month high of $26.34.
• The company declared a quarterly dividend of $0.15 per share, representing a 2.4% annualized yield. Analyst sentiment is mixed, with an overall “Hold” rating and a consensus price target of $27.

Citadel Advisors LLC purchased a new stake in Fidelis Insurance Holdings Limited (NYSE:PLGO - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 152,491 shares of the company's stock, valued at approximately $3,713,000. Citadel Advisors LLC owned approximately 0.18% of Fidelis Insurance as of its most recent filing with the Securities and Exchange Commission.

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

Fidelis Insurance Stock Performance

Shares of PLGO opened at $25.35 on Tuesday. 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 has a market capitalization of $2.19 billion, a price-to-earnings ratio of 6.21 and a beta of 0.27. The company's 50 day simple moving average is $24.83. Fidelis Insurance Holdings Limited has a twelve month low of $16.96 and a twelve month high of $26.34.

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

Fidelis Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Monday, September 14th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, September 14th. Fidelis Insurance's dividend payout ratio (DPR) is 14.71%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wall Street Zen cut Fidelis Insurance from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Zacks Research lowered shares of Fidelis Insurance from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Citizens Jmp boosted their price target on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company a "market outperform" rating in a report on Thursday, August 13th. Keefe, Bruyette & Woods dropped their price target on shares of Fidelis Insurance from $29.00 to $28.00 and set an "outperform" rating on the stock in a research note on Friday, August 14th. Finally, Barclays cut their price objective 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. Four 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. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $27.00.

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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