Fidelis Insurance (NYSE:PLGO) Reaches New 12-Month High Following Analyst Upgrade

Fidelis Insurance Holdings Limited (NYSE:PLGO)’s stock price hit a new 52-week high during mid-day trading on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $26.50 to $28.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Fidelis Insurance traded as high as $23.61 and last traded at $23.33, with a volume of 1047850 shares. The stock had previously closed at $20.24.

Other analysts have also issued research reports about the stock. Zacks Research lowered shares of Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Barclays increased their price target on shares of Fidelis Insurance from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Weiss Ratings initiated coverage on shares of Fidelis Insurance in a report on Wednesday. They set a “buy (b)” rating on the stock. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Fidelis Insurance currently has a consensus rating of “Hold” and an average price target of $25.00.

Fidelis Insurance Trading Up 0.6%

The firm has a market capitalization of $2.04 billion, a PE ratio of 6.30 and a beta of 0.36. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35.

Fidelis Insurance (NYSE:PLGO) last posted its earnings results on Wednesday, May 13th. The company reported $0.94 earnings per share 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 the consensus estimate of $577.19 million. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.25%. Research analysts forecast that Fidelis Insurance Holdings Limited will post 3.19 earnings per share for the current fiscal year.

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.