Fidelis Insurance (NYSE:PLGO) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Fidelis Insurance (NYSE:PLGO) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other research analysts have also recently weighed in on PLGO. Zacks Research cut shares of Fidelis Insurance from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Weiss Ratings began coverage on shares of Fidelis Insurance in a report on Wednesday. They issued a “buy (b)” rating on the stock. Keefe, Bruyette & Woods upped their price target on shares of Fidelis Insurance from $26.50 to $28.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Barclays upped their target price on shares of Fidelis Insurance from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Fidelis Insurance has an average rating of “Hold” and an average price target of $25.00.

Fidelis Insurance Stock Down 1.3%

Fidelis Insurance stock opened at $23.15 on Friday. The firm has a market capitalization of $2.00 billion, a PE ratio of 6.19 and a beta of 0.36. Fidelis Insurance has a fifty-two week low of $14.80 and a fifty-two week high of $23.61. 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 released its quarterly earnings results on Wednesday, May 13th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.19. The firm had revenue of $612.20 million for 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 14.25%. On average, sell-side analysts expect that Fidelis Insurance will post 3.19 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.