Fidelis Insurance (NYSE:PLGO) Reaches New 1-Year High – What’s Next?

Fidelis Insurance Holdings Limited (NYSE:PLGO) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $24.95 and last traded at $24.6850, with a volume of 673153 shares. The stock had previously closed at $24.74.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLGO. JPMorgan Chase & Co. lifted their price target on Fidelis Insurance from $21.00 to $23.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 26th. Weiss Ratings initiated coverage on shares of Fidelis Insurance in a report on Wednesday, May 13th. They set a “buy (b)” rating for the company. Wall Street Zen upgraded shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Barclays upped their price target on shares of Fidelis Insurance from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, May 15th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Fidelis Insurance from $26.50 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.33.

Fidelis Insurance Stock Performance

The company has a market cap of $2.13 billion, a P/E ratio of 6.60 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.70.

Fidelis Insurance (NYSE:PLGO) last announced 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 14.44%. Research analysts expect that Fidelis Insurance Holdings Limited will post 3.78 EPS for the current 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.