Fidelis Insurance (NYSE:PLGO) Reaches New 12-Month High – Should You Buy?

Fidelis Insurance Holdings Limited (NYSE:PLGO)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.15 and last traded at $24.08, with a volume of 127970 shares changing hands. The stock had previously closed at $23.55.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PLGO shares. Zacks Research upgraded Fidelis Insurance from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings began coverage on shares of Fidelis Insurance in a research report on Wednesday, May 13th. They set a “buy (b)” rating on the stock. Barclays lifted their target price on shares of Fidelis Insurance from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Fidelis Insurance from $26.50 to $28.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.33.

Fidelis Insurance Stock Up 2.3%

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 company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 6.43 and a beta of 0.35.

Fidelis Insurance (NYSE:PLGO) last released 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. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. The firm 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 3.78 earnings per share 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.