Fidelis Insurance (NYSE:PLGO) Reaches New 1-Year High – Here’s Why

Fidelis Insurance Holdings Limited (NYSE:PLGO)’s stock price 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.

Analysts Set New Price Targets

A number of research analysts recently commented on PLGO shares. Citizens Jmp raised their price objective on shares of Fidelis Insurance from $27.00 to $28.00 and gave the company a “market outperform” rating in a research note on Friday, July 10th. Zacks Research upgraded Fidelis Insurance from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, May 28th. Barclays increased their price target on Fidelis Insurance from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price target on Fidelis Insurance from $23.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, July 20th. Finally, Weiss Ratings started coverage on Fidelis Insurance in a research note on Wednesday, May 13th. They issued a “buy (b)” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.20.

Fidelis Insurance Stock Performance

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 stock’s fifty day moving average price is $23.78. The firm has a market capitalization of $2.25 billion, a P/E ratio of 6.96 and a beta of 0.29.

Fidelis Insurance (NYSE:PLGO) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.19. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. The company had revenue of $612.20 million for the quarter, compared to analysts’ expectations of $577.19 million. On average, equities analysts anticipate 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.