Fidelis Insurance (NYSE:PLGO) Price Target Raised to $29.00

Fidelis Insurance (NYSE:PLGO) had its target price increased by Citizens Jmp from $28.00 to $29.00 in a report released on Thursday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods lifted their price objective on Fidelis Insurance from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Wall Street Zen upgraded shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. UBS Group raised their target price on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Zacks Research downgraded shares of Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Fidelis Insurance in a research report on Friday, August 7th. Four investment 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 an average 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 current ratio of 0.65, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average is $24.52. Fidelis Insurance has a 52 week low of $15.94 and a 52 week high of $26.34. The stock has a market capitalization of $2.05 billion, a P/E ratio of 5.83 and a beta of 0.28.

Fidelis Insurance (NYSE:PLGO) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.34 earnings per share (EPS) 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%. On average, equities research analysts expect that Fidelis Insurance will post 3.8 earnings per share for the current year.

Fidelis Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Monday, September 14th will be paid a $0.15 dividend. 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%.

Fidelis Insurance Company Profile

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.