Barclays Cuts Fidelis Insurance (NYSE:PLGO) Price Target to $23.00

Fidelis Insurance (NYSE:PLGO) had its price target cut by Barclays from $24.00 to $23.00 in a research report released on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

PLGO has been the topic of several other reports. Weiss Ratings reissued a “buy (b)” rating on shares of Fidelis Insurance in a research report on Friday, August 7th. Zacks Research cut shares of Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods increased their target price on shares of Fidelis Insurance from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. raised their price target on Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, July 20th. Finally, UBS Group boosted their price target on Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.00.

Fidelis Insurance Trading Up 4.6%

PLGO stock opened at $23.80 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.65 and a quick ratio of 0.70. The firm has a market capitalization of $2.05 billion, a P/E ratio of 5.83 and a beta of 0.28. The company has a 50 day moving average price of $24.52. Fidelis Insurance has a twelve month low of $15.94 and a twelve month high of $26.34.

Fidelis Insurance (NYSE:PLGO) last announced its earnings results on Tuesday, June 30th. The company reported $0.34 EPS for the quarter. Fidelis Insurance had a net margin of 15.94% and a return on equity of 15.26%. The business had revenue of $650.00 million for the quarter. Research analysts predict that Fidelis Insurance will post 3.8 EPS for the current fiscal year.

Fidelis Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Monday, September 14th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, September 14th. Fidelis Insurance’s dividend payout ratio (DPR) is 14.71%.

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.