Fidelis Insurance (NYSE:PLGO) Stock Bumped Down to Hold by Wall Street Zen

Wall Street Zen lowered shares of Fidelis Insurance (NYSE:PLGO) from a buy rating to a hold rating in a research note released on Sunday morning,Wall Street Zen reports.

PLGO has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their target price on Fidelis Insurance from $23.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods dropped their price target on Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, August 14th. Citizens Jmp increased their price target on Fidelis Insurance from $28.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 13th. UBS Group raised their price target on Fidelis Insurance from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Barclays reduced their price objective on Fidelis Insurance from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Thursday, August 13th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.00.

Fidelis Insurance Stock Performance

NYSE PLGO opened at $25.31 on Friday. Fidelis Insurance has a one year low of $17.58 and a one year high of $26.34. The firm has a 50-day simple moving average of $24.32. 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 firm has a market cap of $2.18 billion, a price-to-earnings ratio of 6.20 and a beta of 0.28.

Fidelis Insurance (NYSE:PLGO) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.34 earnings per share for the quarter. The business 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%. Equities analysts forecast that Fidelis Insurance will post 3.18 earnings per share for the current year.

Fidelis Insurance Announces Dividend

The company also recently declared 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. The ex-dividend date was Monday, September 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.4%. Fidelis Insurance’s dividend payout ratio is currently 14.71%.

Institutional Trading of Fidelis Insurance

Large investors have recently modified their holdings of the company. State Street Corp acquired a new position in Fidelis Insurance during the 2nd quarter valued at about $20,081,000. Citadel Advisors LLC bought a new position in Fidelis Insurance in the 2nd quarter worth about $3,713,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Fidelis Insurance in the second quarter valued at approximately $1,633,000. Engineers Gate Manager LP acquired a new stake in shares of Fidelis Insurance in the second quarter valued at approximately $1,468,000. Finally, Optimize Financial Inc. acquired a new stake in shares of Fidelis Insurance in the second quarter valued at approximately $621,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Limited is a specialty insurance and reinsurance company headquartered in Bermuda. The company provides customized coverage for complex and hard-to-place risks, serving commercial clients, brokers and other insurance partners through a combination of underwriting and reinsurance operations.

Its product offerings include property, casualty, marine, energy, aviation, cyber, political violence and financial lines insurance, along with other specialty commercial coverages.