Analysts Set Fidelis Insurance Holdings Limited (NYSE:PLGO) Target Price at $24.33

Shares of Fidelis Insurance Holdings Limited (NYSE:PLGO) have received an average rating of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $24.3333.

PLGO has been the subject of several analyst reports. Barclays upped their target price on Fidelis Insurance from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th. Weiss Ratings initiated coverage on Fidelis Insurance in a research note on Wednesday, May 13th. They issued a “buy (b)” rating for the company. Keefe, Bruyette & Woods upped their target price on Fidelis Insurance from $26.50 to $28.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Wall Street Zen upgraded Fidelis Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, JPMorgan Chase & Co. upped their target price on Fidelis Insurance from $21.00 to $23.00 and gave the company an “underweight” rating in a research note on Tuesday, May 26th.

Fidelis Insurance Price Performance

NYSE PLGO opened at $24.61 on Friday. Fidelis Insurance has a fifty-two week low of $14.80 and a fifty-two week high of $24.74. The firm has a market capitalization of $2.12 billion, a PE ratio of 6.58 and a beta of 0.35. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37.

Fidelis Insurance (NYSE:PLGO) last released its earnings results on Wednesday, May 13th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.75 by $0.19. The firm had revenue of $612.20 million during the quarter, compared to analyst estimates of $577.19 million. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%. Sell-side analysts forecast that Fidelis Insurance will post 3.78 EPS for the current year.

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.