Fidelis Insurance Holdings Limited (NYSE:PLGO) Receives $27.20 Average Price Target from Brokerages

Fidelis Insurance Holdings Limited (NYSE:PLGO) has been given an average rating of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $27.00.

A number of equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fidelis Insurance in a research report on Friday, August 7th. Barclays reduced their price objective on shares of Fidelis Insurance from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday. Zacks Research lowered shares of Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Wall Street Zen downgraded shares of Fidelis Insurance from a “buy” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, July 20th.

Fidelis Insurance Stock Performance

PLGO opened at $23.80 on Friday. The company has a market cap of $2.05 billion, a P/E ratio of 5.83 and a beta of 0.28. The business’s 50-day moving average is $24.52. Fidelis Insurance has a 52-week low of $15.94 and a 52-week high of $26.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.70 and a current ratio of 0.65.

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

Fidelis Insurance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Monday, September 14th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, September 14th. Fidelis Insurance’s payout ratio is currently 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.