Fidelis Insurance (NYSE:PLGO) Rating Lowered to Hold at Zacks Research

Fidelis Insurance (NYSE:PLGO) was downgraded by research 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 analysts have also recently weighed in on the company. Barclays increased their price objective on Fidelis Insurance from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. upped their price target on Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, July 20th. Weiss Ratings started coverage on Fidelis Insurance in a report on Wednesday, May 13th. They set a “buy (b)” rating for the company. Keefe, Bruyette & Woods lifted their price objective on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Four 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. According to MarketBeat, Fidelis Insurance has a consensus rating of “Hold” and a consensus price target of $27.20.

Fidelis Insurance Price Performance

Shares of PLGO opened at $25.95 on Monday. The company has a fifty day moving average of $23.83. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. Fidelis Insurance has a 1-year low of $14.80 and a 1-year high of $26.34. The stock has a market capitalization of $2.24 billion, a PE ratio of 6.94 and a beta of 0.29.

Fidelis Insurance (NYSE:PLGO) last announced its earnings results on Wednesday, May 13th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.19. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. The business had revenue of $612.20 million during the quarter, compared to analysts’ expectations of $577.19 million. As a group, equities analysts expect that Fidelis Insurance 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.