Fidelis Insurance (NYSE:PLGO) Sets New 12-Month High - Time to Buy?

Key Points

• Fidelis Insurance reached a new 52-week high, trading as high as $26.56 and closing near $26.33. The company has a $2.28 billion market capitalization and a low P/E ratio of 6.46.
• Analyst sentiment is mixed: four analysts rate the stock a Buy, one rates it Hold and two rate it Sell. The consensus rating is Hold, with a $27.00 average price target.
• Fidelis reported quarterly EPS of $0.34 on $650 million in revenue and pays a quarterly dividend of $0.15 per share, equating to a 2.3% yield. Institutional investors and hedge funds own nearly 82% of the company.

Fidelis Insurance Holdings Limited (NYSE:PLGO - Get Free Report) reached a new 52-week high during trading on Friday. The stock traded as high as $26.56 and last traded at $26.3290, with a volume of 2,608 shares traded. The stock had previously closed at $26.12.

Analyst Upgrades and Downgrades

PLGO has been the topic of several recent research reports. JPMorgan Chase & Co. increased 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. Keefe, Bruyette & Woods dropped their price objective on Fidelis Insurance from $29.00 to $28.00 and set an "outperform" rating for the company in a research report on Friday, August 14th. Wall Street Zen cut Fidelis Insurance from a "buy" rating to a "hold" rating in a research note on Sunday, October 18th. Barclays dropped their target price on Fidelis Insurance from $24.00 to $23.00 and set an "equal weight" rating on the stock in a report on Thursday, August 13th. Finally, Zacks Research cut Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research report on Friday, October 9th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $27.00.

Fidelis Insurance Trading Up 1.0%

The company has a market capitalization of $2.28 billion, a P/E ratio of 6.46 and a beta of 0.28. 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 50-day moving average price of $24.63.

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

Fidelis Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Monday, September 14th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, September 14th. Fidelis Insurance's dividend payout ratio is currently 14.71%.

Hedge Funds Weigh In On Fidelis Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of PLGO. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Fidelis Insurance during the 3rd quarter worth about $66,000. Citizens Financial Group Inc. RI grew its holdings in Fidelis Insurance by 1.3% during the third quarter. Citizens Financial Group Inc. RI now owns 40,784 shares of the company's stock valued at $965,000 after purchasing an additional 540 shares during the last quarter. Kendall Capital Management boosted its holdings in Fidelis Insurance by 5.5% in the 3rd quarter. Kendall Capital Management now owns 96,530 shares of the company's stock valued at $2,284,000 after purchasing an additional 5,065 shares during the period. Sterling Capital Management LLC raised its stake in Fidelis Insurance by 7.1% during the third quarter. Sterling Capital Management LLC now owns 14,315 shares of the company's stock worth $339,000 after acquiring an additional 954 shares in the last quarter. Finally, Quadrant Capital Group LLC acquired a new stake in shares of Fidelis Insurance in the 3rd quarter valued at $329,000. Institutional investors and hedge funds own 81.99% of the company's stock.

About Fidelis Insurance

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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