Fidelis Insurance (NYSE:PLGO) Price Target Cut to $28.00 by Analysts at Keefe, Bruyette & Woods

Fidelis Insurance (NYSE:PLGO) had its price objective decreased by Keefe, Bruyette & Woods from $29.00 to $28.00 in a report issued on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

PLGO has been the subject of several other reports. Zacks Research cut Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Wall Street Zen raised Fidelis Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. 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 note on Wednesday, July 8th. Citizens Jmp upped 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. Finally, Barclays reduced their price objective on shares of Fidelis Insurance from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Thursday. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.00.

Fidelis Insurance Stock Up 4.6%

NYSE PLGO opened at $23.80 on Friday. The firm has a 50-day simple moving average of $24.52. Fidelis Insurance has a 12-month low of $15.94 and a 12-month high of $26.34. The company has a market cap of $2.05 billion, a P/E ratio of 5.83 and a beta of 0.28. The company has a quick ratio of 0.70, a current ratio of 0.65 and a debt-to-equity ratio of 0.32.

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

Fidelis Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Monday, September 14th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.60 annualized dividend and a yield of 2.5%. Fidelis Insurance’s payout ratio is presently 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.