Fidelis Insurance (NYSE:PLGO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Fidelis Insurance (NYSE:PLGO) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other analysts have also issued research reports about the stock. Citizens Jmp lifted their price objective on shares of Fidelis Insurance from $28.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 13th. UBS Group increased their target price on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Zacks Research downgraded shares of Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods decreased their price target on shares of Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, August 14th. Finally, JPMorgan Chase & Co. raised their price target 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. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.00.

Fidelis Insurance Stock Performance

Shares of NYSE:PLGO opened at $24.68 on Friday. The business has a 50-day moving average of $24.35. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.13 billion, a P/E ratio of 6.05 and a beta of 0.28. Fidelis Insurance has a fifty-two week low of $17.58 and a fifty-two week high of $26.34.

Fidelis Insurance (NYSE:PLGO) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.34 earnings per share for the quarter. The company had revenue of $650.00 million during the quarter. Fidelis Insurance had a net margin of 15.94% and a return on equity of 15.26%. As a group, research analysts predict that Fidelis Insurance will post 3.18 earnings per share for the current year.

Fidelis Insurance Dividend Announcement

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

Institutional Trading of Fidelis Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp purchased a new stake in Fidelis Insurance in the 2nd quarter worth approximately $20,081,000. The Manufacturers Life Insurance Company purchased a new position in shares of Fidelis Insurance during the 2nd quarter valued at $258,000. Engineers Gate Manager LP purchased a new position in shares of Fidelis Insurance during the 2nd quarter valued at $1,468,000. Integrated Wealth Concepts LLC bought a new position in shares of Fidelis Insurance in the second quarter worth $91,000. Finally, Squarepoint Ops LLC bought a new position in shares of Fidelis Insurance in the second quarter worth $404,000. Institutional investors own 81.99% of the company’s stock.

About Fidelis Insurance

Fidelis Insurance Holdings Limited is a specialty insurance and reinsurance company headquartered in Bermuda. The company provides customized coverage for complex and hard-to-place risks, serving commercial clients, brokers and other insurance partners through a combination of underwriting and reinsurance operations.

Its product offerings include property, casualty, marine, energy, aviation, cyber, political violence and financial lines insurance, along with other specialty commercial coverages.