Fidelis Insurance (NYSE:PLGO) Sets New 52-Week High – Here’s What Happened

Shares of Fidelis Insurance Holdings Limited (NYSE:PLGO) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $24.95 and last traded at $24.6850, with a volume of 673153 shares trading hands. The stock had previously closed at $24.74.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays upped their target price on Fidelis Insurance from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, May 15th. JPMorgan Chase & Co. boosted their price target on Fidelis Insurance from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 26th. 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 Fidelis Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Keefe, Bruyette & Woods boosted 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 equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Fidelis Insurance presently has a consensus rating of “Moderate Buy” and an average price target of $24.33.

Fidelis Insurance Trading Up 2.6%

The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 6.68 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 EPS for the quarter, beating the consensus estimate of $0.75 by $0.19. The firm had revenue of $612.20 million during the quarter, compared to analyst estimates of $577.19 million. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. As a group, research analysts forecast that Fidelis Insurance Holdings Limited will post 3.78 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.