Optimize Financial Inc. Buys New Position in Fidelis Insurance Holdings Limited $PLGO

Optimize Financial Inc. bought a new stake in shares of Fidelis Insurance Holdings Limited (NYSE:PLGO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 25,495 shares of the company’s stock, valued at approximately $621,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. California State Teachers Retirement System bought a new position in shares of Fidelis Insurance in the 2nd quarter worth $359,000. Susquehanna International Group LLP bought a new stake in shares of Fidelis Insurance during the 2nd quarter worth $388,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Fidelis Insurance in the second quarter worth $1,633,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Fidelis Insurance Stock Up 0.1%

Fidelis Insurance stock opened at $25.35 on Monday. The stock has a fifty day simple moving average of $24.82. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.65 and a quick ratio of 0.65. Fidelis Insurance Holdings Limited has a twelve month low of $16.96 and a twelve month high of $26.34. The company has a market capitalization of $2.19 billion, a P/E ratio of 6.21 and a beta of 0.27.

Fidelis Insurance (NYSE:PLGO) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.34 earnings per share (EPS) for the quarter. The firm had revenue of $650.00 million for the quarter. Fidelis Insurance had a return on equity of 15.26% and a net margin of 15.94%. As a group, equities analysts expect that Fidelis Insurance Holdings Limited will post 3.21 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The business also recently declared 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 yield of 2.4%. The ex-dividend date is Monday, September 14th. Fidelis Insurance’s dividend payout ratio (DPR) is presently 14.71%.

Analysts Set New Price Targets

A number of research analysts recently commented on PLGO shares. Weiss Ratings reissued a “buy (b)” rating on shares of Fidelis Insurance in a research note on Friday, August 7th. Zacks Research lowered Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods cut their price objective on Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, August 14th. Barclays reduced their price objective on Fidelis Insurance from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. raised their price objective on Fidelis Insurance from $23.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, July 20th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.00.

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.