Fidelis Insurance (NYSE:PLGO) Reaches New 12-Month High – Here’s What Happened

Fidelis Insurance Holdings Limited (NYSE:PLGO) shares hit a new 52-week high on Tuesday . The company traded as high as $26.34 and last traded at $26.2670, with a volume of 11973 shares traded. The stock had previously closed at $25.93.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PLGO shares. JPMorgan Chase & Co. increased their target price on Fidelis Insurance from $23.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, July 20th. Zacks Research cut Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday. UBS Group upped their price objective on Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Wall Street Zen upgraded Fidelis Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Barclays boosted their target price on shares of Fidelis Insurance from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.20.

Fidelis Insurance Price Performance

The stock has a 50-day moving average of $23.87. The stock has a market cap of $2.19 billion, a PE ratio of 6.79 and a beta of 0.29. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.70.

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 firm had revenue of $612.20 million during the quarter, compared to analysts’ expectations of $577.19 million. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. Analysts predict that Fidelis Insurance Holdings Limited will post 3.8 EPS 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.