Zacks Research Downgrades Fidelis Insurance (NYSE:PLGO) to Hold

Fidelis Insurance (NYSE:PLGO) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. Weiss Ratings assumed coverage on shares of Fidelis Insurance in a research note on Wednesday, May 13th. They set a “buy (b)” rating on the stock. UBS Group boosted their price objective on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Citizens Jmp upped their target price on Fidelis Insurance from $27.00 to $28.00 and gave the company a “market outperform” rating in a research report on Friday, July 10th. Barclays raised their target price on Fidelis Insurance from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. lifted their price target on Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Fidelis Insurance presently has a consensus rating of “Hold” and an average price target of $27.20.

Fidelis Insurance Price Performance

Shares of NYSE:PLGO opened at $25.95 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 6.94 and a beta of 0.29. The company’s 50-day simple moving average is $23.83. Fidelis Insurance has a 1 year low of $14.80 and a 1 year high of $26.34.

Fidelis Insurance (NYSE:PLGO) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.19. The firm had revenue of $612.20 million for 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%. On average, analysts expect that Fidelis Insurance will post 3.8 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.