Fidelis Insurance (NYSE:PLGO) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Fidelis Insurance (NYSE:PLGO) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other equities research analysts have also issued reports on PLGO. Barclays dropped their price target on Fidelis Insurance from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods decreased their price target on shares of Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating for the company in a report on Friday. UBS Group raised their target price on shares of Fidelis Insurance from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. increased their price target on Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, July 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Fidelis Insurance in a research note on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.00.

Fidelis Insurance Stock Performance

Shares of PLGO opened at $23.80 on Friday. Fidelis Insurance has a one year low of $15.94 and a one year high of $26.34. The company has a 50-day simple moving average of $24.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.65 and a quick ratio of 0.70. The stock has a market capitalization of $2.05 billion, a P/E ratio of 5.83 and a beta of 0.28.

Fidelis Insurance (NYSE:PLGO) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.34 earnings per share (EPS) for the quarter. Fidelis Insurance had a return on equity of 15.26% and a net margin of 15.94%.The company had revenue of $650.00 million for the quarter. As a group, equities research analysts forecast that Fidelis Insurance will post 3.8 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Monday, September 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, September 14th. Fidelis Insurance’s dividend payout ratio is presently 14.71%.

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.