Fidelis Insurance (NYSE:PLGO) Announces Earnings Results, Misses Estimates By $0.54 EPS

Fidelis Insurance (NYSE:PLGO) released its earnings results on Wednesday. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.54), Zacks reports. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. The company had revenue of $650.00 million for the quarter.

Fidelis Insurance Price Performance

Shares of Fidelis Insurance stock traded down $1.58 on Thursday, hitting $22.74. The company had a trading volume of 1,518,928 shares, compared to its average volume of 424,433. Fidelis Insurance has a twelve month low of $15.94 and a twelve month high of $26.34. The company has a 50-day simple moving average of $24.46. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 6.08 and a beta of 0.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.70.

Fidelis Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Monday, September 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, September 14th. Fidelis Insurance’s dividend payout ratio is 16.04%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Citizens Jmp boosted their price objective on shares of Fidelis Insurance from $28.00 to $29.00 and gave the stock a “market outperform” rating in a report on Thursday. Zacks Research cut shares of Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. boosted their price target on Fidelis Insurance from $23.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. UBS Group raised their price objective 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. Finally, Wall Street Zen raised Fidelis Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Four equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.20.

About Fidelis Insurance

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.