Fidelis Insurance (NYSE:PLGO) Cut to Hold at Wall Street Zen

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

Other equities research analysts have also issued research reports about the company. Citizens Jmp upped their price objective 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. Keefe, Bruyette & Woods dropped their price objective on shares of Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, August 14th. UBS Group lifted their target price on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Zacks Research cut shares of Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Fidelis Insurance currently has an average rating of “Hold” and a consensus target price of $27.00.

Fidelis Insurance Stock Up 1.4%

Shares of PLGO stock opened at $25.42 on Friday. The firm has a market cap of $2.19 billion, a PE ratio of 7.01 and a beta of 0.28. The company has a 50-day moving average of $24.35. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.32. Fidelis Insurance has a 52-week low of $17.74 and a 52-week high of $26.34.

Fidelis Insurance (NYSE:PLGO) last issued its earnings results on Tuesday, June 30th. The company reported $0.34 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%. Sell-side analysts anticipate that Fidelis Insurance will post 3.18 earnings per share for the current fiscal year.

Fidelis Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Monday, September 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, September 14th. Fidelis Insurance’s payout ratio is currently 14.71%.

Hedge Funds Weigh In On Fidelis Insurance

A number of large investors have recently bought and sold shares of the business. State Street Corp purchased a new stake in shares of Fidelis Insurance in the second quarter valued at approximately $20,081,000. Citadel Advisors LLC purchased a new position in shares of Fidelis Insurance during the 2nd quarter valued at approximately $3,713,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Fidelis Insurance during the 2nd quarter valued at approximately $1,633,000. Engineers Gate Manager LP purchased a new position in shares of Fidelis Insurance during the 2nd quarter valued at approximately $1,468,000. Finally, Optimize Financial Inc. acquired a new stake in Fidelis Insurance in the 2nd quarter valued at $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 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.