Fidelis Insurance (NYSE:PLGO) Announces Earnings Results

Fidelis Insurance (NYSE:PLGO) issued its quarterly earnings data on Wednesday. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.21, Zacks reports. Fidelis Insurance had a return on equity of 15.26% and a net margin of 15.94%.

Fidelis Insurance Price Performance

Shares of Fidelis Insurance stock traded down $0.34 during trading on Wednesday, reaching $27.99. 468,574 shares of the stock traded hands, compared to its average volume of 433,024. The firm has a market cap of $2.42 billion, a P/E ratio of 6.86 and a beta of 0.24. The firm’s fifty day moving average price is $25.13. 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 has a 52-week low of $17.87 and a 52-week high of $28.85.

Fidelis Insurance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Friday, December 11th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, December 11th. This is a positive change from Fidelis Insurance’s previous quarterly dividend of $0.15. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.1%. Fidelis Insurance’s dividend payout ratio (DPR) is 21.57%.

Analyst Ratings Changes

PLGO has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Fidelis Insurance from a “buy” rating to a “hold” rating in a research report on Sunday, October 18th. JPMorgan Chase & Co. lifted their target price on shares of Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, July 20th. Zacks Research downgraded Fidelis Insurance from a “hold” rating to a “strong sell” rating in a report on Friday, October 9th. Citizens Jmp lifted their price objective on Fidelis Insurance from $28.00 to $29.00 and gave the company a “market outperform” rating in a research report on Thursday, August 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Fidelis Insurance in a report on Wednesday, November 4th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.