Fidelis Insurance Holdings Limited (NYSE:PLGO – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as $27.75 and last traded at $28.14, with a volume of 14,450 shares traded. The stock had previously closed at $26.12.
Wall Street Analysts Forecast Growth
PLGO has been the subject of a number of analyst reports. Wall Street Zen lowered Fidelis Insurance from a “buy” rating to a “hold” rating in a report on Sunday, October 18th. Zacks Research lowered Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. Barclays decreased their price objective on 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. Citizens Jmp increased their price objective on Fidelis Insurance from $28.00 to $29.00 and gave the stock a “market outperform” rating in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. raised their target price on Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, July 20th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.00.
Check Out Our Latest Stock Analysis on Fidelis Insurance
Fidelis Insurance Price Performance
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 stock has a market capitalization of $2.37 billion, a P/E ratio of 6.75 and a beta of 0.24. The stock’s 50 day moving average is $24.84.
Fidelis Insurance (NYSE:PLGO – Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.34 EPS for the quarter. The firm 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%. As a group, analysts anticipate that Fidelis Insurance Holdings Limited will post 3.18 EPS for the current year.
Fidelis Insurance Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Friday, December 11th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 11th. This is an increase from Fidelis Insurance’s previous quarterly dividend of $0.15. This represents a $0.88 annualized dividend and a dividend yield of 3.2%. Fidelis Insurance’s payout ratio is currently 14.71%.
Institutional Investors Weigh In On Fidelis Insurance
Several large investors have recently added to or reduced their stakes in PLGO. Citizens Financial Group Inc. RI grew its position 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 worth $965,000 after buying an additional 540 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Fidelis Insurance by 7.1% in the 3rd quarter. Sterling Capital Management LLC now owns 14,315 shares of the company’s stock valued at $339,000 after acquiring an additional 954 shares in the last quarter. Allworth Financial LP bought a new stake in shares of Fidelis Insurance during the 2nd quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Fidelis Insurance during the 3rd quarter valued at about $66,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Fidelis Insurance during the third quarter worth about $77,000. Institutional investors 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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