Fidelis Insurance (NYSE:PLGO) Stock Price Expected to Rise, Barclays Analyst Says

Fidelis Insurance (NYSE:PLGO) had its price target hoisted by investment analysts at Barclays from $22.00 to $24.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential downside of 2.44% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods increased their price target on Fidelis Insurance from $26.50 to $28.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Wall Street Zen raised shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings initiated coverage on shares of Fidelis Insurance in a research note on Wednesday, May 13th. They issued a “buy (b)” rating for the company. Zacks Research upgraded shares of Fidelis Insurance from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Fidelis Insurance from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Fidelis Insurance presently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Fidelis Insurance Stock Down 0.1%

Shares of NYSE:PLGO traded down $0.03 during midday trading on Tuesday, reaching $24.60. The company’s stock had a trading volume of 107,498 shares, compared to its average volume of 437,977. Fidelis Insurance has a fifty-two week low of $14.80 and a fifty-two week high of $25.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 6.58 and a beta of 0.29.

Fidelis Insurance (NYSE:PLGO) last released its earnings results on Wednesday, May 13th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.75 by $0.19. The business had revenue of $612.20 million during the quarter, compared to analysts’ expectations of $577.19 million. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%. Equities research analysts predict that Fidelis Insurance will post 3.78 earnings per share 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.