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

Fidelis Insurance Holdings Limited (NYSE:PLGO) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $25.60 and last traded at $25.3410, with a volume of 332 shares trading hands. The stock had previously closed at $25.56.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PLGO. JPMorgan Chase & Co. lifted their price objective on shares of Fidelis Insurance from $21.00 to $23.00 and gave the company an “underweight” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods raised their target price on Fidelis Insurance from $26.50 to $28.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Barclays boosted their price target on Fidelis Insurance from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, May 15th. Wall Street Zen upgraded Fidelis Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Zacks Research raised Fidelis Insurance from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.33.

Fidelis Insurance Stock Performance

The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $2.19 billion, a P/E ratio of 6.78 and a beta of 0.29.

Fidelis Insurance (NYSE:PLGO) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.19. The company had revenue of $612.20 million for the quarter, compared to analyst estimates of $577.19 million. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%. On average, equities analysts expect that Fidelis Insurance Holdings Limited will post 3.78 EPS 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.