Fidelis Insurance (NYSE:PLGO) Announces Quarterly Earnings Results

Fidelis Insurance (NYSE:PLGO) released its earnings results on Wednesday. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.21, Zacks reports. The company had revenue of $800.90 million during the quarter. Fidelis Insurance had a return on equity of 15.26% and a net margin of 15.94%.

Fidelis Insurance Stock Performance

Shares of NYSE PLGO opened at $27.99 on Thursday. Fidelis Insurance has a 1 year low of $17.87 and a 1 year high of $28.85. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 7.91 and a beta of 0.24. 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’s 50-day simple moving average is $25.20.

Fidelis Insurance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Friday, December 11th will be paid a dividend of $0.22 per share. This is a boost from Fidelis Insurance’s previous quarterly dividend of $0.15. This represents a $0.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, December 11th. Fidelis Insurance’s payout ratio is 14.71%.

Analyst Ratings Changes

PLGO has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Fidelis Insurance in a report on Wednesday, November 4th. Keefe, Bruyette & Woods dropped their price objective on Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, August 14th. Wall Street Zen downgraded Fidelis Insurance from a “buy” rating to a “hold” rating in a research report on Sunday, October 18th. Barclays lowered their target price on Fidelis Insurance from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Thursday, August 13th. Finally, Zacks Research lowered Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research report on Friday, October 9th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.00.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Limited is a specialty insurer and reinsurer focused on providing coverage for complex and less commonly insured risks. Its products span areas such as property, marine, aviation, energy, and other specialty lines, serving businesses and clients in markets around the world. Founded in 2015, the company is headquartered in Bermuda and operates internationally. Fidelis Insurance Holdings is listed on the New York Stock Exchange under the symbol FIHL; PLGO does not appear to be its ticker symbol.